What investment strategy does Luminar Ventures focus on?

Luminar Ventures focuses on VC strategies in the private equity space.

How many portfolio companies does Luminar Ventures have?

Luminar Ventures has 36 active portfolio companies and 1 completed exit and 2 funds tracked on GP Intel.

Where is Luminar Ventures headquartered?

Luminar Ventures is headquartered in Stockholm, Sweden.

What is Luminar Ventures's assets under management?

Luminar Ventures manages approximately €125M in assets under management.

When was Luminar Ventures founded?

Luminar Ventures was founded in 2017.

What sectors does Luminar Ventures invest in?

Luminar Ventures invests across Software, TMT, Healthcare, Financials, Consumer, Energy.

What are Luminar Ventures's recent exits?

Recent realized exits by Luminar Ventures include: Muninn (2024) to Logpoint.

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Luminar Ventures

Stockholm, Sweden·Founded 2017·

Venture Capital

·luminarventures.com

Luminar Ventures is a Stockholm-based venture capital firm founded in 2017 that makes pre-seed and seed-stage minority investments in Nordic technology startups across software, fintech, digital health and the green transition, writing tickets of roughly EUR 0.5-2.5m and managing about EUR 125m across two funds.

AUM

€125M

Funds

vintages 2017–2022

Portfolio

Exits

Luminar Ventures is a Stockholm venture capital firm with €125M AUM, 36 active companies and 1 exit.

SectorsSoftware TMT Healthcare Financials Consumer Energy

Sector breakdown

37 companies

AI/ML

5 · 14%

HealthTech

5 · 14%

ClimateTech

4 · 11%

Fintech

3 · 8%

Consumer

3 · 8%

InsurTech

3 · 8%

DevTools

2 · 5%

Logistics

1 · 3%

Geography breakdown

3 geographies

Sweden

33 · 89%

Norway

3 · 8%

Denmark

1 · 3%

Key facts

HQStockholm, Sweden

Founded2017

Employees6+

Websiteluminarventures.com

Recent exits

Luminar Ventures sold Muninn to Logpoint in 2024 after 2 years.

Coverage notes

2 funds tracked, 37 portfolio companies (36 active · 1 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Luminar Ventures has raised, with its portfolio companies. Hand-checked from public filings.

2 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Luminar Ventures II

VC2022€65M22 assets

2022 · 4yr

€65M

–

Unrealized

22 held

Company	Entry
Aviant Logistics · Norway	2022
Berget AI Cloud Infrastructure · Sweden	2026
Deckmatch Data & Analytics · Norway	2024
Fika Jobs HR Tech · Sweden	2026
FirstQ Deep Tech · Sweden	2025
Hypertype AI/ML · Sweden	2022
Intuicell AI/ML · Sweden	2025
IPercept Industrials · Sweden	2025
Ivy DevTools · Sweden	2025
Lightbringer LegalTech · Sweden	2024
Motorica AI/ML · Sweden	2025
OpenPayments Fintech · Sweden	2019
Opper AI/ML · Sweden	2025
Pet Buddy Group Consumer · Sweden	2019
Photoncycle ClimateTech · Norway	2024
ReCarber ClimateTech · Sweden	2025
RockyRoad Gaming · Sweden	2023
Starmony Consumer · Sweden	2020
Turbotic AI/ML · Sweden	2021
Varden HealthTech · Sweden	2020
Vibrant Fintech · Sweden	2022
xNomad PropTech · Sweden	2022

Luminar Ventures IHarvesting

VC201714 assets1 exits

2017 · 9yr

–

Unrealized

14 held

Company	Entry
Albacross SaaS · Sweden	2018
Carla Mobility · Sweden	2021
CodeScene DevTools · Sweden	2021
Corsmed HealthTech · Sweden	2024
Greenely ClimateTech · Sweden	2019
Health Integrator HealthTech · Sweden	2020
Heja Consumer · Sweden	2018
Insurello InsurTech · Sweden	2018
Insurely InsurTech · Sweden	2021
Mindler HealthTech · Sweden	2018
Mynt Fintech · Sweden	2020
Normative ClimateTech · Sweden	2019
Omocom InsurTech · Sweden	2020
Yazen HealthTech · Sweden	2023

Realized

1 exit

Company	Entry	Exit	Type	Buyer	MOIC
Muninn Cybersecurity · Denmark	2022	2024	Trade Sale	Logpoint	–

About Luminar Ventures

Luminar Ventures is one of the most active seed-stage venture capital funds in the Nordics with approximately €125 million of assets under management across two funds as of December 2024 (Fund II final close €65 million in 2023), headquartered in Stockholm. The firm was founded in 2017 by Magnus Bergman and Jacob Key (first fund 2018 vintage) and operates as a partner-owned VC with LPs including the European Investment Fund and Saminvest (Swedish state).

Investment thesis

Luminar Ventures deploys capital through approximately two funds, targeting pre-seed and seed stage investments with tickets of €0.5-2.5 million (sweet spot €1-2 million) and hands-on operational support to product-market fit and international expansion. Sector focus spans generalist Nordic tech with emphasis on AI, fintech, sustainability and climate and SaaS. Geographic deployment is anchored in the Nordics. The platform is run by former founders and angels, positioned as one of the most active seed-stage VC funds in the region.

Recent activity

Recent realised exits include cybersecurity and enterprise tech (2024), with 4 exits historically. Recent acquisitions include seed and follow-on into a portfolio company that raised €6.8 million (Redpine), with approximately 45 active portfolio companies and 90% of Fund I advancing to seed rounds. The platform continues active deployment across the Nordic seed-stage mandate.

Frequently asked questions

What investment strategy does Luminar Ventures focus on?: Luminar Ventures focuses on VC strategies in the private equity space.
How many portfolio companies does Luminar Ventures have?: Luminar Ventures has 36 active portfolio companies and 1 completed exit and 2 funds tracked on GP Intel.
Where is Luminar Ventures headquartered?: Luminar Ventures is headquartered in Stockholm, Sweden.
What is Luminar Ventures's assets under management?: Luminar Ventures manages approximately €125M in assets under management.
When was Luminar Ventures founded?: Luminar Ventures was founded in 2017.
What sectors does Luminar Ventures invest in?: Luminar Ventures invests across Software, TMT, Healthcare, Financials, Consumer, Energy.
What are Luminar Ventures's recent exits?: Recent realized exits by Luminar Ventures include: Muninn (2024) to Logpoint.