Industrifonden is an evergreen venture capital fund backing early-stage Nordic breakthroughs in deep tech, life science, and transformative technologies. They target scalable, science-backed innovations that address significant unmet medical and societal needs.
About Industrifonden
Industrifonden is a Stockholm-based evergreen venture fund, originally established as a Swedish state-backed investor and now operating independently with permanent capital, investing across deep tech, life sciences, and software with a strong Nordic focus. The fund writes initial checks of roughly $2M to $10M and follows on aggressively into winners, with the ability to deploy substantial capital across multiple rounds given its evergreen structure. Healthcare exposure is meaningful and concentrated in life sciences, medtech, diagnostics, and selectively digital health, with a long history of investing in Swedish biotech and devices. AI focus is welcome where it sits inside a defensible product, particularly in drug discovery, medical imaging, and clinical decision support. Founders best suited are Nordic-headquartered or Nordic-connected Series A through C CEOs in life sciences, medtech, or AI-enabled healthcare who would benefit from a deep-pocketed local lead with global syndication relationships. Founders who do not fit include US-only consumer health, services businesses without a deep-tech angle, and very early pre-product teams without strong scientific credentials. Geographic preference is Sweden, the Nordic region, and selectively other parts of Europe. The entry path is warm introduction through a Stockholm-area operator, a portfolio CEO, or a co-investor at funds like Northzone or EQT Ventures. LinkedIn outreach to a partner with a focused Nordic angle is a reasonable secondary option. Expect a thorough scientific diligence process and a long-term, patient board partner.
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