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Industrifonden

Venture Capital · Founded 1979 · Stockholms kommun, Sweden

#19 Investor Ranking 2026 Top 1% in Nordics

Nordic evergreen venture capital firm focusing on technology and life science.

Website ↗LinkedIn ↗X / Twitter ↗
133 Portfolio companies+32% in 5 years
4 Unicorns
218 Investments
Jun 2026 Last investment
01 · Knowledge graph
News Pixelgen closes $15.5M Series B to scale cell architecture platform Aug 20, 2026 News Evam raises SEK 38M Series A from Industrifonden and FSG to scale public safety platform May 28, 2026
02 · Exits

Industrifonden’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Industrifonden’s transaction record.

Oatly
$13B IPO · 2021
Now $943MFood
Mycronic
IPO · 2001
Entered Series ANow $7.4BSemiconductors
Qlik
$750M IPO · 2010
Entered Series ANow $3.0BEnterprise Software
BONESUPPORT
$135M IPO · 2017
Entered Series B+Now $1.7BHealth
Calliditas
$147M IPO · 2018
Entered Series ANow $1.0BHealth
03 · Portfolio analysis

Where Industrifonden’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 133 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. Sweden137
  2. USA6
  3. Denmark5
  4. Finland3
  5. Norway2
  6. UK2
  7. Iceland1
  8. Netherlands1
  9. Switzerland1
  10. Türkiye1
By sectorCount
  1. Health46
  2. Enterprise Software28
  3. Energy23
  4. Marketing15
  5. Semiconductors12
  6. Food10
  7. Telecom10
  8. Security8
  9. Transportation8
  10. Media7
  11. Fintech6
  12. Engineering and Manufacturing Equipment4
By stage enteredCount
  1. Series A80
  2. Seed34
  3. Series B+17
By growth stageCount
  1. Early Growth97
  2. Breakout Stage49
  3. Late Growth8
  4. Mature5
04 · Portfolio market map

Inside Industrifonden’s portfolio.

The 60 highest-funded portfolio companies, of 133 tracked.

Oatly
Food
$943M
Minervax
Health
$238M
Funnel
Marketing
$251M
BONESUPPORT
Health · Unicorn
$1.7B
Nanoradio
Semiconductors
$50M
MBlox
Telecom
$117M
OxThera
Health
$141M
poLight
Semiconductors
$284M
Meniga
Fintech
$66M
Gesynta Pharma
Health
$184M
Soundtrack Your Brand
Music
$110M
FishBrain
Food
$119M
inRiver
Marketing
$128M
Sol Voltaics
Energy
$85M
Nextory
Media
$48M
AnaCardio
Health
$99M
eSite Power Systems ( Formerly Flexenclosure )
Media
$96M
Qapital
Fintech
$88M
Apica
Enterprise Software
$64M
Tribune Therapeutics
Health
$119M
Gyros Protein Technologies
Health
$42M
Echandia
Energy
$157M
Asgard Therapeutics
Health
$132M
AlixLabs
Semiconductors
$66M
Widespace
Marketing
$7.7M
Lexly
Legal
$85M
EnginZyme
Health
$92M
Elypta
Health
$84M
Mantex
Food
$1.8M
Nuevolution
Health
$167M
Netadmin Systems
Telecom
$80M
Starcounter
Enterprise Software
$17M
TrusTrace
Fashion
$96M
Teitur Trophics
Health
$123M
Calliditas
Health · Unicorn
$1.0B
Accedo
Media
$40M
NuvoAir AB
Health
$60M
Index Pharmaceuticals
Health
$66M
Barnebys
Home Living
$11M
Fyndiq
Fashion
$16M
Amra
Health
$36M
Novatron Fusion Group
Energy
$44M
TrialBee
Health
$48M
GRID
Enterprise Software
$48M
Melt&Marble
Food
$32M
Athera Biotechnologies
Health
$27M
ShardSecure
Security
$54M
Pixelgen
Health
$29M
Arevo
Food
$32M
ZeroPoint Technologies
Semiconductors
$22M
Telness Technologies
Telecom
$47M
Triventus
Energy
$56M
Hopsworks
Enterprise Software
$26M
Qlik
Enterprise Software · Unicorn
$3.0B
Realforce
Real Estate
$31M
HVR Cardio International
Health
$47M
Smartfish AS
Health
$46M
Open Payments
Fintech
$13M
Yangi
Energy
$44M
Footway
Fashion
$43M
05 · Portfolio founders

Where Industrifonden’s portfolio founders come from.

154 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. Sweden135
  2. United States6
  3. Finland5
  4. Iceland4
  5. Denmark2
  6. Åland Islands1
  7. Canada1
UniversityCount
  1. KTH Royal Institute of Technology25
  2. Stockholm University15
  3. Lund University10
  4. Uppsala University9
  5. Chalmers University of Technology8
  6. Karolinska Institute5
  7. Linköping University5
  8. Stockholm School of Economics5
  9. Luleå University of Technology4
  10. University of Gothenburg4
Previous companyCount
  1. Ericsson6
  2. KTH Royal Institute of Technology6
  3. Uppsala University5
  4. RISE Research Institutes of Sweden4
  5. Svenska Handelsbanken4
  6. ABB3
  7. Cisco3
  8. Cognitive Security3
  9. DynaMotive3
  10. inRiver3
06 · Similar investors

Similar investors.

Peers the API surfaces as most similar by portfolio shape, with Dealroom investor rank and portfolio scale.

Bpifrance
Sovereign Wealth Fund · Maisons-Alfort
#94 rank 1,363 companies $165B portfolio
NEA
Venture Capital · Menlo Park
#36 rank 1,186 companies $2.5T portfolio
Kleiner Perkins
Private Equity · Menlo Park
#51 rank 778 companies $9.0T portfolio
HTGF
Venture Capital · Bonn
#681 rank 578 companies $28B portfolio
MassChallenge
Accelerator · Boston
#10,963 rank 1,065 companies $20B portfolio
Techstars
Accelerator · New York City
#855 rank 2,278 companies $249B portfolio
Y Combinator
Accelerator · San Francisco
#62 rank 7,127 companies $1.9T portfolio
Khosla Ventures
Venture Capital · Menlo Park
#53 rank 856 companies $1.9T portfolio