Nordic Capital
Nordic Capital is a leading Nordic/European private equity (buyout) firm founded in 1989, focused on Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech; it has invested EUR 29.5bn in over 155 companies since inception across 13 funds.
Key facts
Recent exits
Coverage notes
7 funds tracked, 154 portfolio companies (61 active · 93 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
154 companiesFunds & portfolio
Every fund Nordic Capital has raised, with its portfolio companies. Hand-checked from public filings.
Nordic Capital Fund XIBuyout2023 · 3yr€9.0B15 active
Unrealized
15 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Mobility |  Sweden | 2023 | |
| Data & Analytics |  UK | 2025 | |
| SaaS | Sweden | 2024 | |
| MedTech |  Germany | 2023 | |
| MedTech |  Denmark | 2025 | |
| IT Services | Sweden | 2023 | |
| Fintech | UK | 2025 | |
| Construction | Sweden | 2023 | |
| HealthTech |  US | 2023 | |
| HealthTech | Denmark | 2024 | |
| Fintech | Sweden | 2023 | |
| InsurTech | Denmark | 2024 | |
| Business Services | Denmark | 2023 | |
| HealthTech |  Norway | 2024 | |
| ClimateTech | Sweden | 2024 |
Sweden· Entry 2023UK· Entry 2025Sweden· Entry 2024Germany· Entry 2023Denmark· Entry 2025Sweden· Entry 2023UK· Entry 2025Sweden· Entry 2023US· Entry 2023Denmark· Entry 2024Sweden· Entry 2023Denmark· Entry 2024Denmark· Entry 2023Norway· Entry 2024Sweden· Entry 2024Nordic Capital Fund XBuyoutHarvesting2020 · 6yr€6.1B20 active
Unrealized
20 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Pharma | UK | 2021 | |
| Financials | UK | 2022 | |
| Fintech | Germany | 2022 | |
| AI/ML | Norway | 2021 | |
| Healthcare | UK | 2022 | |
| Data & Analytics | US | 2020 | |
| SaaS | UK | 2021 | |
| MedTech | US | 2022 | |
| Healthcare |  Netherlands | 2021 | |
| HealthTech | US | 2021 | |
| Pharma | Denmark | 2021 | |
| InsurTech | US | 2022 | |
| Logistics | Germany | 2021 | |
| SaaS | Germany | 2020 | |
| HealthTech | UK | 2020 | |
| Fintech | Sweden | 2021 | |
| SaaS | Denmark | 2022 | |
| Business Services | Sweden | 2021 | |
| HealthTech | US | 2021 | |
| Fintech | Canada | 2022 |
UK· Entry 2021UK· Entry 2022Germany· Entry 2022Norway· Entry 2021UK· Entry 2022US· Entry 2020UK· Entry 2021US· Entry 2022Netherlands· Entry 2021US· Entry 2021Denmark· Entry 2021US· Entry 2022Germany· Entry 2021Germany· Entry 2020UK· Entry 2020Sweden· Entry 2021Denmark· Entry 2022Sweden· Entry 2021US· Entry 2021Nordic Capital Fund IXBuyoutHarvesting2018 · 8yr15 active · 7 realized
Unrealized
15 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| SaaS | US | 2019 | |
| SaaS | US | 2019 | |
| SaaS |  Switzerland | 2019 | |
| Cybersecurity | Denmark | 2019 | |
| Healthcare | Germany | 2018 | |
| Healthcare | Netherlands | 2018 | |
| Construction |  Finland | 2019 | |
| Healthcare | Germany | 2018 | |
| MedTech | US | 2019 | |
| TMT | Germany | 2018 | |
| Fintech | Norway | 2019 | |
| MedTech | US | 2019 | |
| Fintech | Sweden | 2018 | |
| Healthcare | Sweden | 2018 | |
| Healthcare | Germany | 2018 |
US· Entry 2019US· Entry 2019Switzerland· Entry 2019Denmark· Entry 2019Germany· Entry 2018Netherlands· Entry 2018Finland· Entry 2019Germany· Entry 2018US· Entry 2019Germany· Entry 2018Norway· Entry 2019US· Entry 2019Sweden· Entry 2018Sweden· Entry 2018Germany· Entry 2018Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Business Services | Sweden | 2018 | 2021 | IPO | – | – | |
| Industrials | Sweden | 2019 | 2023 | Secondary | – | ||
| Consumer | Sweden | 2018 | 2025 | Trade Sale | – | ||
| Data & Analytics | Sweden | 2018 | 2023 | Trade Sale | – | ||
| Data & Analytics | Sweden | 2018 | 2023 | Trade Sale | – | ||
| Fintech | Sweden | 2019 | 2021 | Trade Sale | – | ||
| InsurTech | US | 2018 | 2021 | IPO | – | – |
Nordic Capital Fund VIIIBuyoutHarvesting2013 · 13yr9 active · 22 realized
Unrealized
9 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Healthcare | Germany | 2017 | |
| Healthcare | Germany | 2014 | |
| Financials | Sweden | 2014 | |
| Business Services | Norway | 2014 | |
| Financials | Sweden | 2014 | |
| Financials | Sweden | 2014 | |
| Hospitality | Denmark | 2017 | |
| Business Services | Sweden | 2017 | |
| Software | Norway | 2015 |
Germany· Entry 2017Germany· Entry 2014Sweden· Entry 2014Norway· Entry 2014Sweden· Entry 2014Sweden· Entry 2014Denmark· Entry 2017Sweden· Entry 2017Norway· Entry 2015Realized
22 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Pharma | Switzerland | 2013 | 2017 | Trade Sale | – | ||
| Healthcare | Sweden | 2014 | 2018 | Trade Sale | – | ||
| Fintech | Sweden | 2014 | 2017 | Trade Sale | – | ||
| Construction | Denmark | 2015 | 2023 | Trade Sale | – | ||
| Mobility | Netherlands | 2014 | 2015 | Secondary | – | ||
| Industrials | US | 2015 | 2016 | Secondary | – | ||
| Data & Analytics | Sweden | 2016 | 2021 | IPO | – | – | |
| HealthTech | US | 2016 | 2026 | Trade Sale | – | ||
| E-commerce | Sweden | 2013 | 2019 | Trade Sale | – | ||
| HealthTech | US | 2016 | 2019 | Secondary | – | ||
| Consumer | Sweden | 2014 | 2020 | Trade Sale | – | ||
| Financials | Norway | 2014 | 2017 | Trade Sale | – | ||
| Financials | Sweden | 2017 | 2025 | IPO | – | – | |
| Fintech | Sweden | 2017 | 2020 | IPO | – | – | |
| Healthcare | Germany | 2017 | 2022 | Secondary | – | ||
| Business Services | Sweden | 2014 | 2020 | Secondary | – | ||
| Energy | Norway | 2015 | 2026 | Trade Sale | – | ||
| MedTech | Germany | 2015 | 2021 | Trade Sale | – | ||
| Logistics | Denmark | 2013 | 2018 | Trade Sale | – | ||
| Consumer | Denmark | 2015 | 2024 | Trade Sale | – | ||
| Healthcare | Germany | 2017 | 2022 | Secondary | – | ||
| Software | Norway | 2015 | 2021 | Continuation Vehicle | – |
Nordic Capital Fund VIIBuyoutRealized2008 · 18yr2 active · 17 realized
Unrealized
2 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Construction | Denmark | 2012 | |
| TMT | Finland | 2008 |
Denmark· Entry 2012Finland· Entry 2008Realized
17 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Construction | Sweden | 2012 | 2016 | IPO | – | – | |
| Business Services | Sweden | – | 2006 | Secondary | – | ||
| MedTech | Sweden | 2011 | 2016 | Secondary | – | ||
| MedTech | UK | 2011 | 2023 | Trade Sale | – | ||
| Consumer | UK | 2011 | 2020 | – | – | – | |
| MedTech | UK | 2008 | 2016 | IPO | – | – | |
| Industrials |  Italy | 2008 | 2016 | Secondary | – | ||
| Software | Denmark | 2008 | 2013 | Trade Sale | – | ||
| Consumer | Norway | 2012 | 2015 | IPO | – | – | |
| MedTech | Sweden | 2010 | 2017 | IPO | – | – | |
| Fintech | Sweden | 2012 | 2021 | Trade Sale | – | ||
| Energy | Norway | 2009 | 2021 | – | – | – | |
| Agriculture | Sweden | 2010 | 2017 | IPO | – | – | |
| Fintech | Sweden | 2012 | 2016 | IPO | – | – | |
| Construction | Norway | 2008 | 2018 | Secondary | – | ||
| Industrials | Germany | 2010 | 2012 | – | – | – | |
| Consumer | Finland | 2012 | 2016 | IPO | – | – |
UK· Entry 2011Norway· Entry 2009Germany· Entry 2010Nordic Capital Fund VIBuyoutRealized2006 · 20yr0 active · 7 realized
Realized
7 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Telecom | US | 2006 | 2007 | Trade Sale | – | ||
| Healthcare | Sweden | 2006 | 2015 | IPO | – | – | |
| Logistics | Sweden | 2006 | 2010 | Trade Sale | – | ||
| Industrials | Sweden | 2007 | 2014 | Trade Sale | – | ||
| MedTech | Sweden | 2006 | 2013 | Trade Sale | – | ||
| Consumer | Sweden | 2007 | 2014 | IPO | – | – | |
| Healthcare | Switzerland | 2007 | 2017 | Trade Sale | – |
Nordic Capital (early funds)BuyoutRealized1991 · 35yr0 active · 40 realized
Realized
40 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| HR Tech | Sweden | 2004 | 2013 | Trade Sale | – | ||
| Industrials | Sweden | 1999 | 2006 | IPO | – | – | |
| Biotech | Sweden | 2001 | 2006 | IPO | – | – | |
| Logistics | Sweden | 1994 | 1995 | IPO | – | – | |
| Industrials | Sweden | 2005 | 2014 | IPO | – | – | |
| TMT | Sweden | 2003 | 2005 | Trade Sale | – | ||
| Consumer | Sweden | 1993 | 1994 | Trade Sale | – | ||
| Consumer | Sweden | 2005 | 2013 | IPO | – | – | |
| Biotech | Norway | 2001 | 2005 | Trade Sale | – | ||
| Mobility | Sweden | 1994 | 2004 | MBO | – | ||
| Industrials | Sweden | 1998 | 2000 | Trade Sale | – | ||
| Business Services | Denmark | 2004 | 2011 | Trade Sale | – | ||
| Mobility | Sweden | 2005 | 2011 | IPO | – | ||
| Pharma | US | 2005 | 2012 | Trade Sale | – | ||
| Hospitality | Sweden | 1995 | 1998 | Trade Sale | – | ||
| Industrials | Sweden | 1994 | 2003 | Trade Sale | – | ||
| IT Services | Sweden | 2001 | 2006 | Trade Sale | – | ||
| Consumer | Sweden | 1997 | 2003 | Trade Sale | – | ||
| SaaS | Sweden | 1990 | 1996 | IPO | – | – | |
| Consumer | Sweden | 2004 | 2006 | IPO | – | – | |
| FoodTech | Sweden | 1994 | 2005 | Trade Sale | – | ||
| Consumer | Denmark | 2005 | 2014 | MBO | – | ||
| Education | Sweden | 1990 | 1993 | Trade Sale | – | ||
| Industrials | Finland | 2005 | 2014 | Trade Sale | – | ||
| Construction | Finland | 2001 | 2007 | Trade Sale | – | ||
| MedTech | Sweden | 1997 | 2007 | Trade Sale | – | ||
| Industrials | Norway | 1999 | 2007 | Secondary | – | ||
| Construction | Sweden | 2000 | 2005 | Secondary | – | ||
| Pharma | Switzerland | 2002 | 2011 | Trade Sale | – | ||
| Pharma | Switzerland | 2002 | 2011 | Trade Sale | – | ||
| Mobility | Sweden | 2005 | 2009 | – | – | – | |
| Fintech | Sweden | 2004 | 2011 | Trade Sale | – | ||
| Fintech | Sweden | 2004 | 2011 | Trade Sale | – | ||
| Industrials | Sweden | 1999 | 2005 | Trade Sale | – | ||
| Consumer | Norway | 2002 | 2006 | Trade Sale | – | ||
| Business Services | Sweden | 1993 | 1996 | Trade Sale | – | – | |
| MedTech | Denmark | 2000 | 2008 | Trade Sale | – | ||
| Construction | Finland | 1999 | 2000 | Trade Sale | – | ||
| MedTech | Denmark | 2005 | 2008 | Trade Sale | – | ||
| Logistics | Sweden | 1999 | 2004 | Trade Sale | – |
Sweden· Entry 2005Saved GPs appear in your watchlist, one click from your workspace.
About Nordic Capital
Nordic Capital is a Nordic private equity firm with €34 billion of assets under management across 13 active funds as of December 2024, headquartered in Stockholm with offices across the Nordics, Frankfurt, London, New York and Asia. The firm was founded in 1989 as an independent partner-owned platform built around operational value creation, and has expanded from a Nordic-focused mid-market specialist into a global mid-market and upper-mid-market buyout franchise. Nordic Capital Evolution II closed at its €2 billion hard cap in December 2024.
Investment thesis
Nordic Capital deploys capital through 13 active funds spanning Nordic Capital flagship buyout (Fund XI investing at €9 billion, Fund X, Fund IX) and Evolution mid-market platform (€3.2 billion committed across Evolution I and II), with strategic focus on healthcare, technology and payments, financial services and services and industrial tech. Geographic deployment combines Nordic core with selective expansion into DACH, UK, North America and Asia from 11 offices across three continents. The firm's operational excellence engine drives approximately 80% of value creation through portfolio earnings growth rather than financial engineering, with five PEI Operational Excellence Awards and top UNPRI ESG scores reflecting the differentiated approach.
Recent activity
Recent realised exits include Clario (healthcare, 2025, announced as the largest global healthcare PE exit of the year), NOBA (financial services IPO, 2024), Sunrise Medical (healthcare and medical devices, 2024) and an additional healthcare realisation in 2024. Recent acquisitions include Evosep (life sciences and proteomics, 2025), Arcadia (healthcare data analytics, 2025) and IntegriChain (healthcare and pharma tech, 2024). Nordic Capital continues to deploy capital across its Fund XI vintage while expanding the Evolution mid-market platform. Detailed buyer names and multiple data available on Pro at €29/month.
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