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Nordic Secondary Fund

Nordic Secondary Fund

Copenhagen, Denmark·Founded 2018··n2f.vc

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.

AUM
Funds
2
vintages 2018–2022
Portfolio
27
Exits
2

Key facts

HQCopenhagen, Denmark
Founded2018
Employees5+
Websiten2f.vc

Recent exits

Fiizy
Fintech2025 · 4yr hold
Bokio
Fintech2022 · 1yr hold

Coverage notes

2 funds tracked, 29 portfolio companies (27 active · 2 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

29 companies
Fintech
5 · 17%
E-commerce
3 · 10%
MedTech
3 · 10%
AgTech
2 · 7%
Industrials
2 · 7%
Hospitality
1 · 3%
Mobility
1 · 3%
PropTech
1 · 3%

Funds & portfolio

Every fund Nordic Secondary Fund has raised, with its portfolio companies. Hand-checked from public filings.

2 funds
Nordic Secondary Fund IISecondaries
2022 · 4yr8 active

Unrealized

8 held
Bob W.Active
HospitalityFinland· Entry 2022
GoMoreActive
MobilityDenmark· Entry 2022
MinutActive
PropTechSweden· Entry 2024
NostoActive
E-commerceFinland· Entry 2024
PistachioActive
CybersecurityNorway· Entry 2025
AgTechNorway· Entry 2024
SwappieActive
E-commerceFinland· Entry 2024
WingcopterActive
Aerospace & DefenceGermany· Entry 2024
Nordic Secondary Fund ISecondariesHarvesting
2018 · 8yr19 active · 2 realized

Unrealized

19 held
CathVisionActive
MedTechDenmark· Entry 2021
GamingSweden· Entry 2021
CleveronActive
LogisticsEstonia· Entry 2023
Click & Grow
Click & GrowActive
AgTechEstonia· Entry 2020
CobiroActive
AdTechDenmark· Entry 2021
DTEActive
IndustrialsIceland· Entry 2023
FastspeedActive
TelecomDenmark· Entry 2022
FunderbeamActive
FintechEstonia· Entry 2021
GoodieboxActive
E-commerceDenmark· Entry 2021
Hedvig
HedvigActive
InsurTechSweden· Entry 2022
Kilo HealthActive
HealthTechLithuania· Entry 2022
MintosActive
FintechLatvia· Entry 2021
NorlaseActive
MedTechDenmark· Entry 2021
OnRobot
OnRobotActive
IndustrialsDenmark· Entry 2020
PixierayActive
MedTechFinland· Entry 2022
SonarworksActive
SoftwareLatvia· Entry 2021
TransferGo
TransferGoActive
FintechUK· Entry 2021
Unacast
UnacastActive
Data & AnalyticsUS· Entry 2021
VarjoActive
Deep TechFinland· Entry 2020

Realized

2 exits
BokioExited 2022
FintechSweden· Entry 2021
Trade Saleto
FiizyExited 2025
FintechEstonia· Entry 2021
Trade Saleto
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Last updated August 2026 · Sourced from public filings · Report an issue