Swedish VC firm Node.vc closes €71M fund to support Nordic entrepreneurs

Stockholm-based Node.vc, a Nordic early-stage venture capital firm, has closed a €71M fund. The firm aims to strengthen its ecosystem for entrepreneurs, focusing on supporting early-stage startups across the region.

Key investors include Saminvest, a Stockholm-based venture capital firm established by the Swedish government, and several leading Nordic institutional investors such as Nordea Liv & Pension. 

Node.vc has also attracted over 70 entrepreneurs to its investor base, further enhancing its support network for early-stage startups. The fund also has backing from founders of companies such as Axis Communications, Yubico, Polarium, Cint, Evolution, PriceRunner, and Polar Structure.

Magnus Skåninger, CEO of Saminvest, says, “Node.vc has the team and vision to deploy capital across the ecosystem in such a way that drives a new wave of entrepreneur-backed success. They are well-positioned to execute on the best investment opportunities across the tech landscape.”

A founder-first approach

Node.vc aims to establish itself as a central node in the Nordic startup ecosystem, enhancing its investor community’s capacity to identify, evaluate, and support portfolio companies. 

To date, the firm has invested in three Swedish startups: Lemonado, a no-code platform for software and app development; Roro, a creative play studio; and Starhive, a unified data management platform for enterprises. 

By emphasising collaboration, Node.vc connects successful entrepreneurs with early-stage founders to boost growth and success rates. The firm is committed to supporting companies driving change across various sectors, including virtual work, AI, and interactive entertainment.

John Elvesjö, Node.vc’s Managing Partner, says, “The Node.vc team started as founders and operators ourselves, we know what it takes to build and scale successful companies. That’s why we always put founders first; Node.vc is creating an ecosystem where entrepreneurs back entrepreneurs. Our approach is simple – when we invest in a company, we bring much more than capital.”

“Having been in the founders’ shoes ourselves, we know the challenges first-hand and deeply respect the journey. Our aim is to partner with founders, giving them the full weight of our experience, networks, and insights.”

“With the incredible group of investors we’ve brought together, we’re certain we have built the largest entrepreneur-backed early-stage VC in the Nordics, all within one fund structure.”

Brief about Saminvest

Saminvest is a state-owned venture capital investment firm in Sweden that invests indirectly alongside private capital to support innovative and fast-growing companies. 

It claims to promote the establishment of new venture capital funds and business angel programmes to enhance the Swedish venture capital market and stimulate private capital in underserved industries.

Saminvest manages approximately SEK 6B (nearly €528.37M) and places a strong emphasis on sustainability and gender equality in its investments. The firm targets sectors that range from life science to tech and focuses on different investment phases from pre-seed to growth.