Sweden’s node.vc closes €71M fund for early-stage Nordic startups

Stockholm-based node.vc has closed a €71mn money to backmost early-stage startups successful nan Nordics.

“The Nordic tech ecosystem is thriving, particularly successful areas for illustration AI, gaming, fintech, and ambiance tech,” John Elvesjö, managing partner astatine node.vc, told TNW.

“We’re seeing knowledgeable talent, peculiarly from companies for illustration Klarna, Spotify, Voi, Kry, and Pleo, stepping up to go founders,” Elvesjö said. The devaluation of worker banal options and expanding layoffs person sparked “fresh entrepreneurial energy,” he added.

The money is sector-agnostic. This intends that immoderate startup pinch “innovative technology” tin apply. The size of first finance per institution will beryllium astir €1-2mn, though this magnitude tin emergence up to €10mn complete time.

Node.vc intends to build a portfolio of 22-26 investments. To date, it has backed 3 companies: no-code startup Lemonado, information guidance level Starhive, and imaginative play workplace Roro.

Led by erstwhile founders and startup veterans, nan VC patient boasts what it labels a “founder-first” approach.

This, said Elvesjö, translates into “being location for nan entrepreneur, getting hands-on, and helping region roadblocks.” Some examples see support pinch fundraising, recruitment, and networking, arsenic good arsenic crafting merchandise and go-to-market strategies. The purpose is to accelerate maturation and summation a startup’s probability of success.

Despite a more, according to Elvesjö, “cautious” backing environment, node.vc’s money attracted nan backing of a bid of investors, including Saminvest — a task superior patient formed by nan Swedish authorities successful 2016.

Other backers see respective Nordic organization investors and founders of a number of companies, specified arsenic Axis Communications and Yubico. Overall, norde.vc has built an investor guidelines that counts complete 70 entrepreneurs.

“Early-stage backing still feels accessible,” Elvesjö said. “And nan Nordics’ world outlook and collaborative quality support it competitive, moreover successful tighter markets.”