Roughly 1,600 Nordic investors backed equity deals this year so far, creating a competitive landscape where strategic positioning is crucial.
To differentiate themselves, top firms like EQT Ventures are aggressively pursuing deals in high-growth areas like fintech and AI that position them to capture outsized returns. Meanwhile, Open Ocean Capital recently closed a €100M fund focused on data and AI startups.
Using CB Insights data, we analyzed which investors are building the strongest foundations for portfolio success. Below, see our picks for the top 50 venture investors in Nordic countries, key takeaways on the list, and a note on methodology.
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Key takeaways
- EQT Ventures leads our ranking with 67 startup deals since 2023 (as of 6/30/2025). Of those, over one-third (or 24 deals) went to AI companies — including humanoid startup 1X and customer service AI agent developer Parloa.
- IDC Ventures leads in terms of the quality of its recent investments. Its investments since 2023 have a higher average Mosaic score (753 out of 1,000) than any other investor on the list. Top performers in its portfolio include digital wallet developer Curve (866; $1.4B in total funding and backing from the likes of Samsung NEXT) and meal delivery startup CookUnity (816; $500M in ARR).
- EQT Ventures and Almi Invest show the best exit track record, backing 19 startups each since 2018 that went on to exit. The biggest exits across these funds include food delivery app Wolt (EQT Ventures-backed, acquired by DoorDash) and biotech company Cartana (Almi-backed, acquired by 10X Genomics).
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Methodology
We used CB Insights data to review the dealmaking activity of hundreds of Nordic investors that fund private-market startups in exchange for equity, and rank them based on the strength and performance of their portfolios.
Our scoring model factors in deal volume between Q1’23 and Q2’25; unicorns in investors’ portfolios that were backed prior to a $1B valuation; and the share of portfolio companies invested in since 2018 that have gone on to exit. We exclude government vehicles, startup accelerators, incubators.
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