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Investinor

Europe, Sor-Trondelag, Norway, Trondheim

Description

Investinor is a prominent Norwegian state-owned evergreen venture capital firm based in Trondheim, Norway. Established with the mandate to strengthen Norwegian industry and foster innovation, the firm plays a crucial role in the country's venture ecosystem. Unlike traditional fixed-life funds, Investinor's evergreen structure allows for a long-term investment horizon, enabling them to support companies through various growth stages without the typical fund-cycle pressures. This patient capital approach is particularly beneficial for deep technology and industrial companies that often require extended development periods.

The firm primarily focuses on promising Norwegian companies with significant international growth potential. While sector-agnostic to some extent, Investinor has a strong track record in areas such as industrial technology, cleantech, aquaculture, digital transformation, and life sciences. They are active owners, providing strategic guidance and leveraging their extensive network to help portfolio companies scale. Investinor frequently co-invests with other financial and industrial partners, often acting as a cornerstone investor in larger funding rounds.

With approximately $500 million in assets under management, Investinor is a significant capital provider in the Nordic region. As of their 2022 annual report, their portfolio comprised 37 active companies, showcasing their commitment to a diverse range of innovative businesses. Their investment strategy is geared towards creating sustainable value and employment within Norway, while also positioning Norwegian companies for global success.

Investor Profile

Investinor has backed more than 116 startups, with 2 new investments in the last 12 months alone. The firm has led 61 rounds, about 53% of its total and boasts 18 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series Unknown, Seed, Series A rounds (top funding stages).
  • Majority of deals are located in Norway, United States, United Kingdom.
  • Strong thematic focus on Software, Information Technology, Biotechnology.
  • Led 1 rounds in the past year.
  • Typical check size: $1M – $5M.

Stage Focus

  • Series Unknown (50%)
  • Seed (19%)
  • Series A (17%)
  • Series B (8%)
  • Series C (3%)
  • Series D (1%)
  • Undisclosed (1%)
  • Post Ipo Equity (1%)

Country Focus

  • Norway (90%)
  • United States (7%)
  • United Kingdom (2%)
  • Sweden (1%)
  • Switzerland (1%)

Industry Focus

  • Software
  • Information Technology
  • Biotechnology
  • Manufacturing
  • Oil And Gas
  • Saas
  • Sensor
  • Health Care
  • Pharmaceutical
  • Internet Of Things
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Investinor frequently co-invest with?

Skagerak Maturo
Europe, Vest-Agder, Norway, Kristiansand
Co-Investments: 3
SNÖ Ventures
Europe, Oslo, Norway, Oslo
Co-Investments: 6
MP
Europe, Oslo, Norway, Oslo
Co-Investments: 5
Skagerak Capital
Europe, Vest-Agder, Norway, Kristiansand
Co-Investments: 3
SINTEF Venture AS
Europe, Sor-Trondelag, Norway, Trondheim
Co-Investments: 6
Viking Venture
Europe, Sor-Trondelag, Norway, Trondheim
Co-Investments: 6
Industrifonden
Europe, Stockholms Lan, Sweden, Stockholm
Co-Investments: 3
AX
Europe, Oslo, Norway, Oslo
Co-Investments: 4
Alliance VC
Europe, Oslo, Norway, Oslo
Co-Investments: 10
ProVenture
Europe, Sor-Trondelag, Norway, Trondheim
Co-Investments: 9

Which angels does Investinor often collaborate with?

Shared Deals: 1
MB
North America, New York, United States, New York
Shared Deals: 1
BW
North America, New York, United States, New York
Shared Deals: 1
Shared Deals: 1
HD
Europe, Oslo, Norway, Oslo
Shared Deals: 1
JG
North America, New York, United States, New York
Shared Deals: 1

What are some of recent deals done by Investinor?

Two

Oslo, Oslo, Norway

Two is a fintech startup that is building something akin to buy now, pay later for B2B purchases.

B2BE-CommerceFinancial ServicesFinTechPayments
Series AJul 11, 2025
Amount Raised: $15,171,124
Kongsberg Ferrotech

Kongsberg, Buskerud, Norway

Kongsberg Ferrotech provides robotic services underwater with integrated inspection, repair, and maintenance solutions.

ManufacturingRenewable EnergyRobotics
SeedJul 9, 2025
Amount Raised: $14,059,243
Actithera

Oslo, Oslo, Norway

Actithera is a molecular radiotherapeutic company that develops radioligand therapies.

BiotechnologyHealth CareLife ScienceMedicalTherapeutics
Series AJul 9, 2025
Amount Raised: $75,500,000
Tribune Therapeutics

Stockholm, Stockholms Lan, Sweden

Tribune Therapeutics specializes in building promising pipeline of novel medicines to treat patients with a wide range of fibrotic diseases.

BiotechnologyPharmaceuticalTherapeutics
Series AMar 26, 2025
Amount Raised: $24,838,523
EXACT THERAPEUTICS AS

Oslo, Oslo, Norway

EXACT Therapeutics is a clinical stage biotech firm developing a technology platform for therapeutic enhancement Acoustic Cluster Therapy.

BiotechnologyTherapeutics
Post Ipo EquityDec 3, 2024
Amount Raised: $13,108,718
Heimdall Power

Oslo, Oslo, Norway

Heimdall Power provides software and sensors designed for monitoring overhead power lines.

Electrical DistributionPower GridRenewable EnergySensorSoftware
Series BJul 16, 2024
Amount Raised: $24,943,034
Sensibel

Oslo, Oslo, Norway

Sensibel commercializes ultra-high-sensitivity MEMS microphones based on an optical MEMS technology.

Information TechnologyManufacturingSensor
Series UnknownFeb 21, 2024
Amount Raised: $7,574,241
Calluna Pharma

Oslo, Oslo, Norway

Calluna Pharma is developing first-in-class therapies designed to defeat chronic inflammation and fibrosis at the source.

BiotechnologyPharmaceutical
Series AJan 23, 2024
Amount Raised: $81,431,633
Ignite

Oslo, Oslo, Norway

Give you a complete picture of your suppliers and spend to help you reduce costs, emissions, and risks.

Information TechnologySaaSSoftware
Series ANov 10, 2023
Amount Raised: $4,813,874
Intelecy

Oslo, Oslo, Norway

Intelecy is a fast-growing Norwegian technology company.

IndustrialInformation TechnologyMachine Learning
Series UnknownJun 22, 2023
Amount Raised: $3,500,000