Venture segment
The number of venture deals in the Nordic region in H1 decreased by 10% compared with the five-year average for the period. The drop is explained by a low deal volume in Q1, while it increased considerably in Q2. Venture funds invested €373 million in Nordic companies in the first half of the year.
Venture funds performed one hundred nineteen deals into Nordic companies in H1, which is low compared with both the same period in 2019 (down 13%) and the average for the last five years (down 10%).
The activity in Q2 was in line with the corresponding quarter in the last five years. The number of investments in the ICT sector doubled compared to the first quarter, from 24 to 45 investments. Correspondingly, the number of deals in the consumer sector increased from two in the Q1 to five in the Q2.
Health and life sciences attracted many venture investments in H1, a total of 23 deals, up 35% from the five-year average for the period. The increase is a natural consequence of higher interest in health tech during the COVID-19 pandemic.
In H1, Swedish companies attracted most deals (41%), followed by Finland (33%), Denmark (17%) and Norway (9%).
Venture funds invested €373 mill in Nordic companies in the period. The invested amount is significantly lower than the level in 2019 (€651 million), which was a record year, but almost the same level as the average for the last five years (€360 million).
When we look at the distribution of invested amount, it was Finland that attracted the highest amount (33%), followed by Sweden (29%), Denmark (25%) and Norway (15%).
Notable transactions include:
- TESI’s investment in Swappie, a Finnish company that refurbishes used phones
- EQT’s investment in Anyfin, a Swedish fintech company that specialises in helping consumers refinance loans
- Riverwood’s investment in ForgeRock, a company founded in Norway in 2010, which delivers a digital identity platform
- Hadean Ventures’ investment in Oncoinvent, a Norwegian biotech company that focuses on treatment options for cancer patients