Tim He

Nordic Founders: Embracing Bold Innovation The Nordic startup landscape is shifting, with founders taking bigger risks that are yielding significant rewards. Their collaborative culture fuels innovation, while a focus on deep tech positions them for a robust future. At ElevenX Capital, we recognize that investing in these bold entrepreneurs not only aligns with our values but also enhances our portfolio with revolutionary potential. How can Limited Partners adapt their strategies to tap into this thriving ecosystem? #investing #innovation #venturecapital #entrepreneurship

3

1 kommentar

Stockholm is on 🔥🔥🔥 these days!!! Some investments feel obvious. When your wife’s a doctor, and you see a tool like Tandem Health, you just think: finally. We are very excited to partner with Lukas, Oscar & Oliver in their €50m Series A round alongside Kinnevik and Northzone ✌🏻 Tandem isn’t just building an AI medical assistant. They’re tearing out the clunky pipes of Europe’s clinical workflows and laying down a new OS. Their AI medical assistant is already in use by 1,000+ healthcare orgs and is just getting started. From easing documentation pain to rethinking the clinical OS for Europe. We first met Lukas, Oscar & Oliver a year ago. Total clarity paired with a deep borderline obsessive understanding of what’s broken in healthcare and how to fix it. Since then, we’ve stayed close and frankly just kept being blown away by their speed and execution and hoped we’d get another shot ;) We're excited to join forces and support the journey ahead! Read more here: https://lnkd.in/eRFAiDeB cc Venkat Kondragunta Visionaries Club Northzone Amino Collective

256

8 kommentarer

We published our power deployment-implied CoWoS analysis in the last issue of our AI tracker (see note). Many investors were curious about what the currently announced power deployment plans imply for CoWoS demand. We thus considered the mega- and hyper-power deployment plans that we are seeing now; where usage of chips is not specified, we use NVIDIA GPU and ASICs as references. We calculated the racks needed for each project based on power consumption, and summed up the chips volume housed in these racks. Our analysis yielded an implied CoWoS number of 1.24mn for total consumption, which implies 681k units of CoWoS demand annually vs. TSMC and non-TSMC CoWoS average annual capacity of nearly 1,100k. This is in line with our understanding that CoWoS is not the key bottleneck, while front-end capacity and other materials, such as T-glass, are potential products in shortage.

1

🚀 Women-led companies are proving the data wrong. In the US, female-founded companies represented 24.3% of total VC exit activity last year. In Europe, the share was 21.5% — but with ONLY 2% of the invested capital. (According PitchBook) Back in 2021, we saw a record 23 women-led exits in Europe as exits soared across industries. These milestones matter — because role models are crucial in nurturing the next generation of entrepreneurs. Companies like Bumble Inc., RevolutionRace, and @Yubico with founders Pernilla Nyrensten, Stina Ehrensvard and @whitney wolfe herd are opening doors for others to follow. One of the most common prejudices is that women don’t have scalable businesses, “think big enough” or can’t deliver the same level of returns. 📉 But the numbers tell another story. 📈 It’s time we not only celebrate these achievements but also ensure that more capital flows to female-founded ventures. Thank you Dagens PS and Emma Fällman for the conversation on my way to the race Feminvest and Feminvest Ventures hosted last week: https://lnkd.in/dsHS9wF3 Apply to the fund: https://lnkd.in/dGZ9ju_X Join our growing community: https://lnkd.in/gcrvfXFU

115

28 kommentarer

It's live! 🚀 Invesdor Group has officially launched its first pre-IPO investment opportunities - we're proud to be the first company ever in the Nordics and one of the first in Europe to bring this asset class to retail investors. Until now, investing in late-stage private companies like Anthropic, ŌURA, IQM Quantum Computers, Octopus Energy and others has been reserved for institutional and professional investors. That changes today. The first two pre-IPO investment opportunities Anthropic and ŌURA are now live on Invesdor Group. Link to the investment opportunities in the comments. Here is how it works: - An intermediate entity issues a bond that acts as a financial asset tracking the target company valuation. - The bonds are tokenised and held on a blockchain. - Investors subscribe to these bonds and gain exposure to the underlying asset. - The intermediate entity acquires shares in the target company directly or indirectly via private secondary markets. - Upon exit, the bond matures and the intermediate entity distributes the proceeds to investors. This is a first-of-its-kind opportunity for retail investors to get exposure to some of the world's most exciting companies - before they go public. 🚀 Alongside this new asset class, our focus on corporate bonds, renewable energy, real estate financing and equity financing for growth companies remains as strong as ever. Invesdor Group Invesdor DACH Invesdor Benelux Interested in pre-IPO investments, corporate bonds, renewable energy, real estate, or startup and scaleup investing? Don't hesitate to reach out to me or one of my colleagues. Ronja, Aino, Lukas, Roderick, Jan-Eric, Thomas, Marco, Steyn, Stefan, Christopher, Alyssa, Christopher, Ellen, Nancy, Anna, Andreas Knopf LL.M., Iva, Loïs, Tess, Katharina, Franziska &Sebastian

65

4 kommentarer

Straight from one of the world’s most influential leaders in pension fund management and sustainable investing. There’s no denying that sustainable investing, especially in clean energy, is more than just a trend. If we’re to play the long-term game, to secure both our financial wealth and the well-being of humankind, we must invest in a future where clean energy powers not just our world but also our robust & resilient portfolios. 🎧 Tune in to this episode to learn more: https://lnkd.in/er4MMMt4 #SustainableInvesting #CleanEnergy #FutureOfFinance #GreenInvesting

Great to see DFF Ventures - which we founded 6 years ago as a more entrepreneurial ex-operator VC - is making its next step by announcing Fund III for a EUR 50Mln first close. It has been a ride, and exciting as each of our invested 40 companies find its own path, and the tremendous acceleration that comes with finding their unique product market fit like Vintage Cash Cow, Metycle, Getmobile, Northladder. DFF Ventures will be therefore doubling down on many more early stage (pre-)seed companies building out the back bone of traditional industries. Leveraging Vertical AI, B2B Marketplaces and Re-commerce models will drive that exciting change and value in those industries.

109

7 kommentarer

The Norsk venturekapitalforening NVCA numbers for 2025 show early-stage/VC deal-count up (⬆) and invested capital down (⬇) → avg. deal size down (⬇). Falling avg. deal size is opposite to the international trend, yet consistent with Kjetil’s numbers, and counter-intuitive in an inflationary market 🤔 Reasonable conclusion: There are more quality/fundable startups in Norway, but the market is capital-constrained. Thoughts anyone? Anders, Gisle, Jon Kåre? Assuming it's correct, it's suboptimal for founders/the ecosystem 🫩, yet an opportunity for investors with dry powder 😳 See source in comments.

40

8 kommentarer

Super excited to launch the Executive Venture Program, together with Daniel & Eirik 🚀 Through running 14+ Venture Summits in the past 10 months for C-levels in venture backed scaleups, I´ve seen up close the real thirst from operators to learn from each other, get together and discuss common challenges.  Getting so close to the top operators in Norway and having invested in many of them, it´s clear that there is a knowledge-gap, a lack of scaling competency, when your ambitions are going global. Our goal with the Executive Venture Progam, is to fill this knowledge-gap with the “know how” from people who have "been there done that". We are surrounding the top talent with experts who would like to "pay it forward" and give the guidance they did not get themselves. This is why we together with the likes of Katherine Barrios, Pal T. Naess, Birte Steen, Patrick Skjennum, Roger Weibell (and more to be announced soon) have now launched an Executive Venture program. A 12-week facilitated program with structured learning from others who have been through the same journey. If you are in a C-level role in venture, want someone to discuss your challenges with, learn and get inspired, I encourage you to check out the program or reach out 💡

133

13 kommentarer

We are expanding and we’re doing it the way we always have: by partnering with the best people in the market. We are entering into a strategic partnership with a leading fixed income team, led by Mimmi Wehtje. As equal partners, Mimmi and her team will operate within the Dahlgren Capital Group through the newly formed company Velldor Capital – bringing deep expertise in fixed income management and credit analysis to both our own asset management and to external institutional clients. “Our Group has a growing need for a strong fixed income solution. By now teaming up with the market’s sharpest experts on the fixed income side, we are significantly strengthening our value proposition,” says Peter Dahlgren, Founder & CEO, Dahlgren Capital. This strengthens our position at a time when institutional investors are seeking both return and risk control. Peter emphasizes that we are now building an organization that can handle everything from complex fixed income credits to global investments – a natural continuation of our growth journey. Read more via the link in the comments. #VelldorCapital #AssetManagement #FixedIncome #ValueCreation #DahlgrenCapital

237

4 kommentarer

Attention all sustainability and procurement practitioners: Unibloom | B Corp™ has just launched their Unibloom Switch AI solution, that makes it super easy to find low-carbon and cost-effective ingredients and material options alternatives from better suppliers. Check it out in the video below, and TRY IT FOR FREE TODAY! Anna Sandgren - 8+ Ventures - Norrsken VC - SAP

14

1 kommentar

What a month for our portfolio companies at Korelya Capital 🚀 🚲 ⚡ Upway closed a $60m Series C round at c.$400m valuation. Next milestone: 1 million refurbished bikes by 2030. ✈️ 🗼 GetYourGuide surpassed €1 billion LTM revenue, booking 10M experience last quarter (+30% YoY) and remaining profitable. 🏎️ ⚡FINN was recognized by Sifted as the #1 fastest-growing startup in Europe in 2025. Thrilled to see our portfolio scaling and proud of the teams behind these milestones 💪. - Fleur Pellerin Antoine Dresch Paul Degueuse Pierre Joo Grégoire Pontoizeau Jamie Na Stanislas Schobinger Korelya Capital Full posts: - Upway: https://lnkd.in/eMqTRwPS - GetYourGuide: https://lnkd.in/eNVqMz5J - FINN: https://lnkd.in/e7XDJTQx

39

Returning from DLD Conference, I’m reminded that Europe’s foundation for building centacorns (companies with scale and lasting impact on an economic level) is stronger than many realize. Our challenge now is to match these strengths with even greater ambition. Here’s what gives me confidence: 1. Exceptionally strong and competitive talent pool: Europe now graduates more STEM students than the US, and it continues to attract top AI and engineering talent from abroad. This is not theoretical; it’s visible in the teams building new companies across the continent. 2. Public investment and policy momentum are accelerating: Unprecedented European programs in defense, infrastructure, and technology are creating the conditions for deep innovation. There’s also a real push for larger growth funds and a more unified capital market – important steps that will help our companies scale at home. 3. Europe’s market size and valuations create real opportunities: With a market of over 500 million people, European companies have a real path to significant growth. Valuations here are still attractive, giving investors an opportunity to support ambitious founders and potentially benefit from strong returns as these businesses expand. The ingredients are here: talent, market, and growing pools of capital. We now need to make sure founders have the support to stay and grow in Europe. Let's boost and ride our winners! Thank you to Ann-Kristin Achleitner for the thoughtful exchange, and to Steffi Czerny and the DLD team for making these conversations possible. You can find the full keynote here: https://lnkd.in/dctjFKB3

103

5 kommentarer

The Largest Preventive Health Platform Already Exists Most companies are trying to build the future of preventive health. But they’re looking in the wrong place. The largest preventive health platform already exists. Employers. Think about it: Millions of people already receive healthcare through their employer. 1.             benefits are structured 2.             vendors are integrated 3.             data is collected 4.             costs are tracked By definition employers already operate one of the largest health platforms in the world. So why aren’t outcomes improving? Because most employer health platforms aren’t actually systems. They’re: 1.             collections of point solutions 2.             disconnected vendors 3.             optional programs What’s missing isn’t more tools. It’s a system that actually runs. The next phase of employer health won’t be defined by: 1.             better apps 2.             more data 3.             or expanded benefits It will be defined by platforms that operate as continuous systems. That’s the shift: Access → Execution Programs → Systems Insight → Outcomes The platform already exists. It just hasn’t been activated yet. Full breakdown below 👇 https://lnkd.in/ecPDszSF

2

2 kommentarer

Recently, the press reported on a potential M&A involving one of our Balnord portfolio companies. They were close, M&A is real, and the portfolio company is very real. But for now, we’re not selling. We’re buying 🛰️ 🇱🇺 Exciting news from Infinite Orbits 🚀 🇫🇷 They’ve announced the acquisition of LMO Space, a Luxembourg-based specialist in autonomous space systems. LMO’s expertise in Space Situational Awareness and rendezvous operations strengthens IO’s Endurance life-extension programme and adds a critical layer to their in-orbit protection stack. This marks Infinite Orbits’ first acquisition across the Balnord portfolio. With €150M in signed contracts and a clear ambition to protect Europe’s €200B+ orbital infrastructure, IO is building a European champion in space security. Congratulations to Adel Haddoud and the IO team, and welcome to Michel Poucet and the LMO team. #spacetech #dualuse #venturecapital #europeanspace

75

3 kommentarer

We have all seen lots of research on how AI will affect the future of work at the individual level. Some of it pure speculation, some of it increasingly already proven at e.g. Verdane ("all employees are now managers, with an army of highly sophisticated and intelligent - but incredibly naive, sycophantic and occasionally delusional - agents at their disposal"). I have so far seen little high quality work on how AI will affect the shape of future organisational structure and design, in both public and private sector. Without having a clear hypothesis there, it is to my mind impossible to predict how AI will ultimately impact societies and economies long term. Below is an interesting attempt by Sequoia to answer the question. Well worth a read (and I am saying that not only because I am a historian)! Interesting perspectives, lots to both agree and to disagree with. Though I think they are too reductionist in their analysis of the role of middle management as an information distribution and coordination layer only, I share their view that AI will significantly reduce the need for middle management roles. Pretty much all employees will be managers (orchestrating AI agents), but many more employees will also have to be individual contributors than what is the case today. https://lnkd.in/e7VAUjEi What d'ya reckon?

80

5 kommentarer

Monterro raises €1.725bn across two oversubscribed funds 01.10.2025 - Investoren Plattform News: Private Equity Nordic-based B2b software investor Monterro has held the first and final closing of two funds raising a combined €1.725bn in capital commitments – €1.375bn for its fifth flagship fund and a further €350m for its second lower mid-market fund (G2) at €350m. To a report by private equity wire. 29.09.2025 und mehr als 13.600 weitere Artikel finden Sie unter: https://lnkd.in/e7C_eC-8

2

1 kommentar

While the VC scene is at Slush in Helsinki, PE is gathering in Stockholm at the biggest Nordic event. While there are no 🔥 and mega lights on stages, there is super interesting discussions around Value Creation and where the industry is heading. I had the privilege to moderate an opening panel about “Private Equity in 2025 and Beyond”. Some takeaways: 💡GP level consolidation is continuing and key is to balance scale with entrepreneurship, which is essential to GP success. 💡In sector wise, SW and business services are going to be hot while consumer brands need to deliver better risk/return. 💡Leverage and arbitrage don’t make the multiples anymore, AI is bringing new dimension to the value creation and disrupting how and where the value is being created, with potentially diminished revenue. Thanks for the insightful panel Ali Al Alaf Marco Natoli Tommaso Crackett Patric Carlsson #Saaripartners #privateequity #PEinsights #PEnordics

98

2 kommentarer

The Nordics may be beating us at our own game?! They may have cracked the governance code.” Good governance isn’t about more rules. It’s about better alignment. The Nordics have found a formula that works: align shareholders, seasoned operators, and management — and value follows. Their small-cap markets thrive because governance is anchored, not outsourced. Major shareholders are expected to stay engaged — often through a lead shareholder on the board — someone who has built businesses, understands risk, and owns the outcomes. Without that anchor, Nordic investors apply a discount. With it, companies trade at a premium — because risk is managed by experience, not regulated by process. In the UK, we’re heading the other way. The FCA wants more “independence” on AIM boards, more process, more distance. But independence is not the same as good governance. Alignment, ownership, and experience are. The Nordic model proves that the best governance is not about removing risk — it’s about anchoring it in those who understand it best. Maybe that’s the governance reform the UK really needs. #UKMarkets #SmallCaps #Governance #Nordics #CapitalMarkets #FCA #AIM #EconomicGrowth Financial Conduct Authority Martyn Hopper

22

4 kommentarer