Luminar Ventures

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. Detailed buyer names and multiple data available on Pro at €29/month.