Industrifonden

About Industrifonden

Industrifonden is Sweden's national evergreen venture capital fund with more than SEK 5 billion (~€450-500 million) of assets under management as of December 2024, headquartered in Stockholm. The firm was founded in 1979 by the Swedish government as an independent foundation (Stiftelsen Industrifonden), operating as an evergreen fund structure with no fixed lifecycle and no exit-pressure. Industrifonden has backed 1,000 plus companies since 1979 with 72 historical exits and a current portfolio of approximately 60 active companies.

Investment thesis

Industrifonden deploys capital through a single evergreen fund, targeting Nordic early-stage venture capital from seed to Series A and B with first tickets of SEK 10-50 million plus follow-on capacity. The long-horizon backing of science-led innovation is unconstrained by typical 10-year fund-cycle pressure. Sector focus spans deep tech (advanced materials, AI, energy, Industry 4.0, synthetic biology, advanced computing), life science (biotech, medtech, healthtech) and transformative tech (industrial digitalisation, disruptive B2B). Geographic deployment is anchored in Sweden core with broader Nordic region coverage (Denmark, Finland, Norway).

Recent activity

Recent realised exits include healthtech and neuroimaging (2024) plus 13 new investments and continued portfolio realisations across deep tech throughout 2024-2025. Recent acquisitions include diagnostics and dental tech (2025), semiconductor and lithography (2025), bioprocessing (2024), computing efficiency (2024) and alt-protein (2024-2025). The platform continues active deployment across the Swedish science-led innovation ecosystem.

Frequently asked questions

What investment strategy does Industrifonden focus on?

Industrifonden focuses on VC strategies in the private equity space.

How many portfolio companies does Industrifonden have?

Industrifonden has 30 active portfolio companies and 14 completed exits and 1 fund tracked on GP Intel.

Where is Industrifonden headquartered?

Industrifonden is headquartered in Stockholm, Sweden.

What is Industrifonden's assets under management?

Industrifonden manages approximately €500M in assets under management.

When was Industrifonden founded?

Industrifonden was founded in 1979.

What sectors does Industrifonden invest in?

Industrifonden invests across Healthcare, Industrials, TMT, Energy.

What are Industrifonden's recent exits?

Recent realized exits by Industrifonden include: Limina (2026) to Arcesium; Trialbee (2026) to Varsity Healthcare Partners; Crosser (2025) to AVEVA (Schneider Electric); DPOrganizer (2024) to DataGuard; Inriver (2022) to Thomas H. Lee Partners; Arcam (2017) to General Electric; Movimento (2017) to Delphi Automotive; Soundtrap (2017) to Spotify.