Node.vc has raised $77.3 million, or €71 million, for a brand new fund that’s backed by 70 Nordic entrepreneurs.
This founder-first VC fund, (which is spelled node.vc by the corporate), is predicated in Stockholm and it has a “sector-agnostic” focus. Nonetheless, at the least one in every of its early investments is in a recreation firm. The agency is led by veterans of main startups and scaleups (together with eye monitoring scaleup Tobii and Tobii Dynavox and online game pioneers Paradox Interactive).
The thought is to double down on constructing an ecosystem for entrepreneurs. The $77.3 million determine is the quantity the fund has closed up to now. I hope this implies there’s a signal of life within the enterprise capital funding local weather, as just lately buyers have been gunshy.
Cornerstone buyers within the new fund embrace Stockholm-based Saminvest (a enterprise capital firm fashioned by the Swedish authorities in 2016, dedicated to establishing new and sustainable ventures), in addition to a number of main Nordic institutional buyers, underscoring broad confidence in node.vc’ method to enterprise capital. node.vc has constructed an investor base that features greater than 70 entrepreneurs.
Notable backers of the brand new fund embrace founders of Axis Communications, Yubico, Polarium, Cint, Evolution, PriceRunner, and Polar Construction. The Stockholm-headquartered VC agency’s funding philosophy is constructed on the facility of turning into a node for the Nordic startup ecosystem, making certain that the agency’s investor neighborhood is provided to assist determine, consider, and help portfolio firms.
A founder-first method
Node.vc’s funding technique revolves round constructing a founder-first ecosystem, the place the agency leverages its in depth entrepreneurial community to determine, help, and scale progressive tech firms. The agency’s sector-agnostic method is guided by the idea that disruptive innovation can emerge from any business.
Up to now, the agency has already made three investments in Sweden: Lemonado, a no-code platform for constructing software program and apps; Roro, a artistic play studio; and Starhive, a next-generation unified information administration platform for enterprises.
The agency’s thesis is predicated on the facility of collaboration, connecting profitable entrepreneurs with early-stage founders to speed up progress and improve the chance of success. As the worldwide panorama of labor, innovation, and entrepreneurship evolves quickly, Node.vc stands on the intersection of disruption and progress. The agency is dedicated to figuring out and backing firms main change throughout varied industries, whether or not it’s reshaping digital work, driving the way forward for AI, or unlocking new frontiers in interactive leisure and enterprise expertise, the corporate mentioned.
Node.vc managing associate John Elvesjö mentioned in an announcement, “The Node.vc workforce began as founders and operators ourselves, we all know what it takes to construct and scale profitable firms. That’s why we at all times put founders first; Node.vc is creating an ecosystem the place entrepreneurs again entrepreneurs. Our method is easy – once we spend money on an organization, we carry rather more than capital.”
Elvesjö added, “Having been within the founders’ sneakers ourselves, we all know the challenges first-hand and deeply respect the journey. Our intention is to associate with founders, giving them the complete weight of our expertise, networks, and insights. With the unimaginable group of buyers we’ve introduced collectively, we’re sure we have now constructed the biggest entrepreneur-backed early-stage VC within the Nordics, all inside one fund construction.”
Cornerstone investor Saminvest CEO Magnus Skåninger mentioned in an announcement, “Node.vc has the workforce and imaginative and prescient to deploy capital throughout the ecosystem in such a manner that drives a brand new wave of entrepreneur- backed success. They’re well-positioned to execute on the very best funding alternatives throughout the tech panorama.”
