Top 10 Venture Capital Firms in Norway

Daud AhsanJuly 22, 2026

Norway has become a tech hub for startups, and its strong growth over the last few years testifies to the hard work done by venture capital firms and angel investors. Each year, hundreds of startups get funded by Norwegian VC firms, but one question confuses a lot of startup leaders.

Among all these names, who are the most active and top-ranking venture capital firms in Norway?

The most active venture capital firms in Norway include Katapult Accelerator, Investinor, Skyfall Ventures, Statkraft Ventures, Alliance Ventures, Hadean Ventures, Idékapital, SNÖ Ventures, RunwayFBU, and Arkwright X, most of them based in and around Oslo. To help you choose, we have prepared the following list of the top 10 venture capital firms in Norway, with what each one funds and how it invests.

Top 10 Venture Capital Firms in Norway

Following is a list of some of the top venture capital firms in Norway, arranged according to their activity and involvement in the Norwegian startup ecosystem.

Katapult Accelerator

Katapult Accelerator is the investment arm of Katapult, based in Oslo, Norway. The firm is dedicated to investing in highly scalable impact tech startups, with a particular focus on climate, ocean, and agri-tech startups. Alongside the fund, Katapult also runs accelerator programs and works to grow the startup community in Norway.

The firm looks for startups that help deliver the UN Sustainable Development Goals. Its accelerators offer funding and the chance for impact startups to scale internationally.

The investment range of Katapult Accelerator is between $150,000 and $500,000.

Website: Katapult
Founded: 2017
Preferred Industries: Climate Tech & Green Tech, Energy & Nuclear, Manufacturing
Notable Investments: 12 Tides, ACUAOcean, Adamo Foods, and AquaRech LTD

Investinor

With around NOK 8 billion in total assets, Investinor is a well-recognized investment company that funds Norway-based startups. It is owned by the Norwegian state and is one of the most active institutional investors in the country's venture market.

Investinor focuses on companies that contribute to Norwegian wealth creation. It invests in companies in the seed, venture, and expansion phases, looking for major market potential and a competent team behind a progressive technology or business model. The companies should be able to demonstrate a realistic path to further funding and a credible exit strategy.

The investment range of Investinor is around $4-$6M.

Website: Investinor
Founded: 2008
Preferred Industries: Manufacturing, Hardware, and Business Intelligence
Notable Investments: Calluna Pharma and Novelda

Skyfall Ventures

Skyfall Ventures is a well-known VC firm that invests in tech startups gaining attention for their products and services.

Skyfall Ventures selects startups based on their growth potential, often through pitch competitions. Startup leaders can apply for investment from the website, and once selected, they can present their pitch decks in person.

The investment range of Skyfall Ventures is around $5M.

Website: skyfall
Founded: 2016
Preferred Industries: Developer Tools, Fintech, Crypto & web3
Notable Investments: Januar, Databutton, and Enode

Statkraft Ventures

Statkraft Ventures is the corporate venture capital arm of Statkraft, with offices in Düsseldorf, Germany, and Oslo, Norway. The firm is dedicated to investing in outstanding entrepreneurs in the energy and climate tech sectors. It partners with exceptional founders in early- and growth-stage startups across Europe and North America.

Statkraft Ventures backs companies operating in energy, climate tech, and related segments across the early and growth stages in Europe and North America. It prefers to invest between EUR 3 million and EUR 20 million.

Website: Statkraft Ventures
Founded: 2015
Preferred Industries: Energy & Nuclear, Climate Tech & Green Tech, Business Intelligence
Notable Investments: Aira, Wakeo, Metron

Alliance Ventures

Alliance Ventures is a Nordic venture capital firm based in Oslo, Norway. The firm is run by experienced venture capitalists, operators, and founders who have helped create billion-dollar companies.

The team focuses on investing in exceptional early-stage tech companies and purpose-driven founders with global ambitions. It sees investing in a founder as a mutual partnership and knows that building great, valuable companies takes time. Alliance Ventures also lists some requirements on its website, looking for startups that are:

Patentable
Have differentiated technology with strong IP
Have clearly identified addressable markets, scalable business models, attractive valuations, and strong management teams.

The investment range of Alliance Ventures is around $3M.

Website: Alliance Venture Capital
Founded: 2001
Preferred Industries: Fintech, Payments, Climate Tech & Green Tech
Notable Investments: Unleash, MemfoACT, Boost AI, and IndyKite

Hadean Ventures

Hadean Ventures is a European life science fund manager with a particular focus on the Nordic region. The firm invests broadly across the life science sectors, especially in pharmaceuticals and digital health. Hadean Ventures has offices in Oslo and Stockholm.

Hadean Ventures focuses on investing in early-stage life science startups across Europe, prioritizing companies with high growth potential and few competitors. Its investors are experienced life science specialists.

The investment range of Hadean Ventures lies between $50,000 and $300,000.

Website: Hadean Ventures
Founded: 2014
Preferred Industries: Pharmaceuticals, biotechnology, medical technology, diagnostics, and digital health innovations
Notable Investments: Gesynta Pharma, Step Pharma, and Oncoinvent

Idékapital

Idékapital is a Norwegian venture capital firm that invests in high-growth software and tech companies across the Nordics and Europe. It provides growth equity, strategic advice, and scale-up support for entrepreneurs building global market leaders in their niche.

Idékapital manages several investment funds and backs ambitious Norwegian software and tech companies. Its investors prefer businesses with a business-to-business model, software or software-enabled products, a proven and scalable business model, global potential, and dedicated, expert teams.

The investment range of Idékapital is around $1M.

Website: Idékapital
Founded: 2017
Preferred Industries: Mobile, Data and Analytics, and Business Intelligence
Notable Investments: Decisions, No Isolation, and Favrit

SNÖ Ventures

SNÖ Ventures is a venture capital firm based in Oslo, Norway. The firm invests in visionary entrepreneurs leading early-stage, transformative Nordic tech companies and supports them at every step of their global growth journey.

SNÖ Ventures values startups with strong problem-solving skills, big ambitions, and experienced leaders and teams. The firm favors Nordic tech startups with the potential to disrupt or capture large markets.

The investment range of SNÖ Ventures lies between $150,000 and $1M.

Website: SNÖ Ventures
Founded: 2015
Preferred Industries: Gaming, Business Intelligence, Mobility & Transportation
Notable Investments: Otovo, PortalOne, Confrere, and Kitemaker, plus early backing of Kahoot and Unacast

RunwayFBU

RunwayFBU is an early-stage venture capital firm based in Fornebu, Norway. The firm was founded by Kjell Inge Røkke, one of the most successful entrepreneurs in the Nordics, and Tor Bækkelund, former co-founder of StartupLab.

RunwayFBU invests in software-driven technology companies built by ambitious entrepreneurs. It supports founders in building global companies and solving important challenges using data and technology.

RunwayFBU also guides its portfolio companies and runs mentorship programs. The investment range of RunwayFBU is around $2-$3M.

Website: RunwayFBU
Founded: 2021
Preferred Industries: Climate Tech & Green Tech, Legal Tech, Communications
Notable Investments: Wsense, OTee, and Complai

Arkwright X

Arkwright X invests in ambitious, early-stage B2B tech startups in the Nordics. It focuses on the (pre-) seed stage but is also open to investing in later rounds.

The firm values teams with problem-solving skills, energy, grit, integrity, and bold ambitions. The investment range of Arkwright X lies between $100,000 and $3M.

Website: Arkwright X
Founded: 2017
Preferred Industries: Business Intelligence, Open Source, Fintech
Notable Investments: Two, Unleash, and Unloc

Wrap-Up

In short, Norway has a deep bench of VC firms and angel investors. To get to know these investors and understand their interests, you can research venture capital firms by focus and stage, and start reaching out to them to pitch your startup.

Frequently Asked Questions

What sectors do venture capital firms in Norway focus on?

Norwegian VC firms cluster around a few themes. Energy and climate tech are strong (Statkraft Ventures, Katapult), alongside life science and health (Hadean Ventures), B2B and industrial software (RunwayFBU, Arkwright X, Idékapital), fintech (Skyfall Ventures, Alliance Ventures), and gaming and consumer tech (SNÖ Ventures).

Where are most of Norway's top VC firms based?

Most are in and around Oslo, including Fornebu, where RunwayFBU is based. Investinor is headquartered in Trondheim. The AngelMatch database currently lists 300+ investors in Oslo alone, making it the clear center of Norway's venture activity.

How much do Norwegian VC firms typically invest?

Ticket sizes vary by stage and firm. Early-stage and impact tickets often start around $150,000 (Katapult invests roughly $150,000 to $500,000), while later rounds run into the millions (RunwayFBU invests around $2 million to $3 million). Confirm current ranges on each firm's own site before you pitch.

How do you get funding from a venture capital firm in Norway?

A warm introduction is best, though several firms accept applications through their websites. Arrive with a strong team, clear traction, and a defined market. State investors like Investinor rarely lead, so a private lead helps. It also pays to make your startup investable first.