Nordic Secondary Fund
Nordic Secondary Fund (N2F), managed by N2F Management ApS in Copenhagen and founded in 2018, is a specialist secondaries investor that acquires minority equity stakes directly in venture and growth-stage operating companies across the Nordic and Baltic region. It buys shares from existing shareholders after a company has completed its Series A, typically at a discount to the last external funding round, targeting a 2x to 5x return within about five years, and runs two funds, Nordic Secondary Fund I and Nordic Secondary Fund II.
Key facts
Coverage notes
2 funds tracked, 29 portfolio companies (27 active · 2 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
29 companiesFunds & portfolio
Every fund Nordic Secondary Fund has raised, with its portfolio companies. Hand-checked from public filings.
Nordic Secondary Fund IISecondaries2022 · 4yr8 active
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Hospitality | 2022 | ||
| Mobility | 2022 | ||
| PropTech | 2024 | ||
| E-commerce | 2024 | ||
| Cybersecurity | 2025 | ||
| AgTech | 2024 | ||
| E-commerce | 2024 | ||
| Aerospace & Defence | 2024 |
Nordic Secondary Fund ISecondariesHarvesting2018 · 8yr19 active · 2 realized
Unrealized
19 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| MedTech | 2021 | ||
| Gaming | 2021 | ||
| Logistics | Estonia | 2023 | |
| AgTech | Estonia | 2020 | |
| AdTech | 2021 | ||
| Industrials | Iceland | 2023 | |
| Telecom | 2022 | ||
| Fintech | Estonia | 2021 | |
| E-commerce | 2021 | ||
| InsurTech | 2022 | ||
| HealthTech | Lithuania | 2022 | |
| Fintech | Latvia | 2021 | |
| MedTech | 2021 | ||
| Industrials | 2020 | ||
| MedTech | 2022 | ||
| Software | Latvia | 2021 | |
| Fintech | 2021 | ||
| Data & Analytics | 2021 | ||
| Deep Tech | 2020 |
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