Spring Nordic

About Spring Nordic

Fonden Spring Nordic (Spring Nordic Foundation) is a Danish foundation headquartered at Rabalderstræde 7 in Roskilde, Denmark. The foundation was established in 2019 as a successor entity when the state-approved innovation environment Capnova was wound down following the January 2019 government decision to phase out the four state-run innovation environments. The foundation merged with CAT Fonden in 2021 to consolidate Sjælland-region early-stage activity. The institutional heritage traces back roughly 30 years through CAT (Forskerparken CAT) in Roskilde, which preceded Capnova. Assets under management are not publicly disclosed as a consolidated figure, with the vehicle structured as a foundation deploying balance-sheet capital plus externally-managed Impagt Invest Sjælland A/S. The structure is a Danish foundation (Fonden) operating both balance-sheet capital and external fund vehicles. There is at least one external fund (Impagt Invest Sjælland A/S) alongside foundation own-funds.

Investment thesis

Spring Nordic pursues an early-stage equity investment strategy into post-proof-of-concept Nordic technology companies, typically after companies have crossed the first DKK 1 to 2 million revenue threshold. The firm explicitly positions in the capital gap between early soft funding from grants and accelerators and later institutional venture rounds, syndicating routinely with co-investors when round size warrants. Sector focus is B2B deep-tech with declared preferences in cleantech, hardware, software, green energy and resilience-tech (covering defense and dual-use). The firm frames its mandate around sustainable solutions and enabling technologies transforming industrial value chains. Geographic scope is Denmark-primary anchored in the Sjælland and Roskilde region, with selective Nordic and international co-investment exposure. The foundation mandate ties capital deployment partly to Zealand regional economic development. Ticket size is DKK 3 to 10 million per round, with capacity stretching to DKK 15 million (approximately €400,000 to €2 million) where co-investment is available. The capital base is foundation own capital plus the external Impagt Invest Sjælland fund. Value creation is capital plus network plus business development.

Recent activity

Disclosed portfolio holdings include AquaGreen in cleantech and bio-waste conversion, Cobot Lift in hardware and robotics, Norlase in hardware and photonics, and Plastpack Defence in defense and hardware. Recent realisations include Addifab in advanced manufacturing and 3D printing (2023 trade sale). The platform continues to deploy capital across Danish post-proof-of-concept B2B deep-tech opportunities, with particular focus on cleantech, hardware, green energy and resilience-tech. The foundation structure ties capital deployment partly to Zealand regional economic development objectives.

Frequently asked questions

What investment strategy does Spring Nordic focus on?

Spring Nordic focuses on VC strategies in the private equity space.

How many portfolio companies does Spring Nordic have?

Spring Nordic has 13 active portfolio companies and 1 completed exit and 2 funds tracked on GP Intel.

Where is Spring Nordic headquartered?

Spring Nordic is headquartered in Roskilde, Denmark.

When was Spring Nordic founded?

Spring Nordic was founded in 2010.

What sectors does Spring Nordic invest in?

Spring Nordic invests across Industrials, Energy, Software, Healthcare.

What are Spring Nordic's recent exits?

Recent realized exits by Spring Nordic include: AddiFab (2023) to Nexa3D.