The most active investors in Swedish tech startups in 2024 to date

Below you find a ranking of the institutional investors that made the largest number of equity investments in Swedish tech startups and scaleups so far this year, from January 1 until and including May 30.

The ranking includes both publicly announced rounds since January 2024, as well as selected unannounced rounds raised in 2024. Investments in certain industries are excluded – see method details, caveats and other limitations at the end of the page.

Please note: The data is based on my thorough monitoring of announced and selected unannounced rounds (which I add daily to an exclusive Google Sheet), and may differ from what can be found on the major startup databases, for various reasons. If you represent a firm listed below and believe your number should be updated, please let me know: martin@swedishtechnews.com (Swedish or English is fine).

➡️ Scroll down for pre-seed and "seed and later" rankings.
This ranking is inspired by this LinkedIn post from Joseph Michael.

Most active investors in Swedish tech startups in 2024 to date (across all stages)

Almi Invest (including Almi Invest GreenTech): 10 investments
Industrifonden: 7
Norrsken VC & Norrsken Launcher: 7
Chalmers Ventures: 7
Antler: 5
Y Combinator: 5
byFounders: 3
Partnerinvest Norr: 3
Navigare Ventures: 3
Propel Capital: 3
Gorilla Capital: 3
AMAVI Capital: 2
Aspire Ventures: 2
Backing Minds: 2
Balderton Capital: 2
Black Ice Capital: 2
Bonnier Capital (formerly Bonnier Ventures): 2
Curiosity: 2
Esmaeilzadeh Holding: 2
EIC Accelerator: 2
EIT InnoEnergy: 2
EQT Ventures: 2
Emblem: 2
Fort Knox: 2
Giant Ventures: 2
I Love Lund: 2
Holmströmgruppen: 2
Hummingbird: 2
IMAS Foundation: 2
Incore Invest: 2
Jovitech Invest: 2
J12 Ventures: 2
KTH Holding: 2
Longrun Capital: 2
Lowercarbon Capital: 2
LU Holding: 2
Luminar Ventures: 2
Mudcake: 2
Northern CapSek Ventures: 2
Philian: 2
Pitchdrive: 2
RadCap: 2
Sagitta Ventures: 2
Sandberg Development: 2
Scale Up Life Science Invest: 2
Schibsted: 2
Sciety: 2
Spintop Ventures: 2
Sutjagin Capital: 2
Unconventional Ventures: 2
Upfin: 2
Verdane: 2
Voima Ventures: 2
Wellstreet: 2
Yanno Capital: 2
Yuncture: 2

Pre-seed only

Almi Invest: 5
Antler: 4
Propel Capital: 3
Y Combinator: 3
Aspire Ventures: 2
byFounders: 2
Chalmers Venturs: 2
Esmaeilzadeh Holding: 2
Emblem: 2
Gorilla Capital: 3
Holmströmgruppen: 2
KTH Holding: 2
Pitchdrive: 2
Sutjagin Capital: 2
Upfin: 2
Yuncture: 2

Seed and later

Industrifonden: 7
Norrsken: 6
Almi Invest: 5
Chalmers Ventures: 5
AMAVI Capital 2:
Backing Minds: 2
Balderton Capital: 2
Black Ice Capital: 2
Bonnier Capital (formerly Bonnier Ventures): 2
EIC Accelerator: 2
EQT Ventures: 2
Fort Knox: 2
I Love Lund: 2
IMAS Foundatio: 2
Incore Invest: 2
J12 Ventures: 2
Longrun Capital: 2
Lowercarbon Capital: 2
Navigare Ventures: 2
Northern CapSek Ventures: 2
Partnerinvest Norr: 2
Philian: 2
Sagitta Ventures: 2
Scale Up Life Science Invest: 2
Schibsted: 2
Sciety: 2

Method, caveats and limitations to the data

• Includes investments in unlisted Swedish tech startups & scaleups announced in 2024 (even if the actual raise may have happened in 2023).
• Also includes selected investments in unlisted Swedish tech startups raised in 2024 that have not been announced (sourced either from the Swedish Companies Registration Office through Eivora, or through other channels)
• Investments in companies from certain industries (such as certain areas of lifescience, gambling, and beauty) are not included, as I generally don't cover them on Swedish Tech News.
• Investments in companies based in multiple countries are included, as long as a co-founder and significant operations are Sweden-based.
• Investment firms at the earliest stages, particularly those tied to incubators or universities, don't always communicate their investments right away, or at all. The information is not typically registered with the Swedish Companies Registration Office right away, either. Thus, particularly for those firms, the number of investments above may not be representative.
• If you represent a firm listed above and believe your number should be updated, please let me know: martin@swedishtechnews.com (Swedish or English is fine).