Spintop Ventures
Spintop Ventures is a Nordic early-stage venture capital firm based in Stockholm, Sweden, founded in 2009, investing minority equity in software and deep-tech B2B startups across the Nordics. It has raised four funds (Spintop I in 2010 through Spintop IV in 2022) and manages close to SEK 2 billion, roughly EUR 188 million, according to the European Investment Fund. Notable outcomes include trade sales of Small Giant Games (Zynga), Modcam (Cisco), Agency9 (Bentley Systems) and Apprl (Klarna), plus public listings of Oneflow, MariaDB and Donkey Republic.
Spintop Ventures is a Stockholm venture capital firm with €188M AUM, 14 active companies and 10 exits.
- ·6 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 10 realized deals: 5 years.
- ·Fund cadence: ~4Y between vintages · last raise 2022.
Sector breakdown
24 companiesGeography breakdown
4 geographiesKey facts
Recent exits
Spintop Ventures sold Crosser to AVEVA (Schneider Electric) in 2025 after 8 years.
Spintop Ventures sold Alexis to Simployer in 2024 after 2 years.
Spintop Ventures took MariaDB Corporation public in 2022 after 9 years.
Spintop Ventures took Oneflow public in 2022 after 4 years.
Coverage notes
4 funds tracked, 24 portfolio companies (14 active · 10 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Spintop Ventures has raised, with its portfolio companies. Hand-checked from public filings.
Spintop Ventures IVVC20223 assetsVC2022 · 4yr–3–
Unrealized
3 held| Company | Entry |
|---|---|
| 3LC AI/ML · Norway | 2026 |
| WeWillWrite EdTech · Norway | 2025 |
| Zymego HealthTech · Sweden | 2023 |
Spintop Ventures IIIHarvestingVC20197 assets3 exitsVC2019 · 7yr–73
Unrealized
7 heldSpintop Ventures IIHarvestingVC20134 assets6 exitsVC2013 · 13yr–46
Unrealized
4 heldRealized
6 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Donkey Republic Mobility · Denmark | 2019 | 2021 | IPO | – | – |
| MariaDB Corporation Software · Finland | 2013 | 2022 | IPO | – | – |
| Modcam AI/ML · Sweden | 2015 | 2020 | Trade Sale | Cisco | – |
| Oneflow SaaS · Sweden | 2018 | 2022 | IPO | – | – |
| Small Giant Games Gaming · Finland | 2014 | 2019 | Trade Sale | Zynga | – |
| Teklatech Deep Tech · Denmark | 2015 | 2018 | Trade Sale | Synopsys | – |
Spintop Ventures IRealizedVC20100 assets1 exitsVC2010 · 16yr–01
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Agency9 Software · Sweden | 2012 | 2018 | Trade Sale | Bentley Systems | – |
About Spintop Ventures
Spintop Ventures is a Nordic B2B-software specialist venture capital firm with approximately €180 million of assets under management across funds as of December 2024 (Fund IV approximately €90 million, EIF-backed, Fund V launching), headquartered in Stockholm with an Oslo office opened February 2026. The firm was founded in 2009 and operates as a partner-owned independent VC backed by the European Investment Fund as an LP.
Investment thesis
Spintop Ventures deploys capital through approximately four to five funds (Funds I-IV, Fund V in market), targeting early-stage (seed and Series A) technology venture capital with €0.5-2.5 million entry tickets and above-average follow-on capacity, backing proven tech entrepreneurs. Sector focus spans B2B SaaS, software, fintech, deep tech, IoT and telecom, gaming and sustainable-transformation tech. Geographic deployment is the Nordics (Sweden, Norway, Finland, Denmark). The platform combines a proven-entrepreneurs sourcing network with deeper-than-average follow-on reserves.
Recent activity
Recent realised exits include industrial software and edge analytics (2025). Recent acquisitions include enterprise AI and data software (February 2026). The platform continues active deployment across the Nordic B2B-software mandate.
Frequently asked questions
- What investment strategy does Spintop Ventures focus on?
- Spintop Ventures focuses on VC strategies in the private equity space.
- How many portfolio companies does Spintop Ventures have?
- Spintop Ventures has 14 active portfolio companies and 10 completed exits and 4 funds tracked on GP Intel.
- Where is Spintop Ventures headquartered?
- Spintop Ventures is headquartered in Stockholm, Sweden.
- What is Spintop Ventures's assets under management?
- Spintop Ventures manages approximately €188M in assets under management.
- When was Spintop Ventures founded?
- Spintop Ventures was founded in 2009.
- What sectors does Spintop Ventures invest in?
- Spintop Ventures invests across Software, TMT, Healthcare.
- What are Spintop Ventures's recent exits?
- Recent realized exits by Spintop Ventures include: Crosser (2025) to AVEVA (Schneider Electric); Alexis (2024) to Simployer; Apprl (2021) to Klarna; Modcam (2020) to Cisco; Small Giant Games (2019) to Zynga; Teklatech (2018) to Synopsys; Agency9 (2018) to Bentley Systems.
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