Node.vc raises $77.3M to support a new fund supported by 70 Nordic entrepreneurs
Node.vc has raised $77.3 million, or EUR71 million, for a new fund that is backed by 70 Nordic entrepreneurs.
This founder-first VC fund, (which is spelled node.vc by the company), is based in Stockholm and it has a “sector-agnostic” focus. At least one of the fund’s early investments was in a gaming company. The firm is led by veterans of leading startups and scaleups (including eye tracking scaleup Tobii and Tobii Dynavox and video game pioneers Paradox Interactive).
The idea is to double down on building an ecosystem for entrepreneurs. The fund has raised $77.3 million to date. I hope this means there is a sign of life in the venture capital investment climate, as recently investors have been gunshy.
Cornerstone investors in the new fund include Stockholm-based Saminvest (a venture capital company formed by the Swedish government in 2016, committed to establishing new and sustainable ventures), as well as several leading Nordic institutional investors, underscoring broad confidence in node.vc’ approach to venture capital. node.vc has built an investor base that includes more than 70 entrepreneurs.
Notable backers of the new fund include founders of Axis Communications, Yubico, Polarium, Cint, Evolution, PriceRunner, and Polar Structure. The Stockholm-headquartered VC firm’s investment philosophy is built on the power of becoming a node for the Nordic startup ecosystem, ensuring that the firm’s investor community is equipped to help identify, evaluate, and support portfolio companies.
A founder-first approach
Node.vc’s investment strategy revolves around building a founder-first ecosystem, where the firm leverages its extensive entrepreneurial network to identify, support, and scale innovative tech companies. Sector-agnostic, the firm believes that disruptive innovations can come from any industry.
To date, the firm has already made three investments in Sweden: Lemonado, a no-code platform for building software and apps; Roro, a creative play studio; and Starhive, a next-generation unified data management platform for enterprises.
The firm’s thesis is based on the power of collaboration, connecting successful entrepreneurs with early-stage founders to accelerate growth and increase the probability of success. Node.vc is at the forefront of growth and disruption as the global landscape for work, innovation and entrepreneurship continues to evolve. The company is committed to identifying, and backing, companies that are leading change in various industries. Whether it’s reshaping the virtual work landscape, driving the future AI, or unlocking the new frontiers of interactive entertainment and enterprise tech, the firm said. Node.vc creates an ecosystem that encourages entrepreneurs to support entrepreneurs. Our approach is simple – when we invest in a company, we bring much more than capital.”
Elvesjo added, “Having been in the founders’ shoes ourselves, we know the challenges first-hand and deeply respect the journey. We want to be a partner for founders and give them all of our knowledge, experience, and insight. 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.”
Cornerstone investor Saminvest CEO Magnus Skaninger said in a statement, “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.”
GB Daily
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