Fundraising Fox
FSG
Venture capitalLund · Pre-Seed–Seed · 9 people tracked
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Investment thesis
FSG concentrates on early-stage startups at the intersection of life science and technology, with particular emphasis on diagnostics and pharmaceutical innovation. The firm leverages its team's background in serial entrepreneurship and business development to help portfolio companies grow. FSG aims to support ventures whose groundbreaking solutions can create positive outcomes for people and society.
Source: firm website, verified Aug 3, 2026.
Team · 9 people
from the firm's website & curated & public directories
What they invest in
from 15 of 31 portfolio companiesBiotech ×9Medical Devices ×9Healthtech ×8Deep Tech ×4Digital Health ×4AI & Machine Learning ×3SaaS ×3New Materials ×2
HQs:Sweden×10Finland×1United States×1
Investments · 31 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12 dated
Airsonett develops Temperature Laminar Airflow (TLA) medical devices for non-pharmacologic treatment of allergic asthma and eczema.
Deep TechHardwareHealthtechMedical DevicesNot stated on page, SE
Co-investorsIndustrifondenSEB Venture Capital
Aplagon is a clinical-stage biopharmaceutical company developing first-in-class therapeutics targeting thromboinflammatory and cardiovascular diseases.
BiotechHealthtechMedical DevicesHelsinki, FI
Sakari Lassila(Founder)in
Co-investorsInnovestor VenturesInvesdorInnovestor
Drug development company specializing in automated, standardized production of At-211 radiopharmaceuticals for targeted alpha therapy.
Milton Lönnroth(Founder)in
Co-investorsChalmers Ventures AB
Din Psykolog is a Swedish online mental health service offering video sessions with licensed psychologists without a waiting list, along with free digital CBT (iKBT) treatment programs.
Digital HealthHealthtechMental Health
David Tystberger(Founder)in
Co-investorsGorilla Capital
Evam provides a next-generation SaaS platform for public safety and emergency response, offering both proprietary applications and quality-approved third-party apps tailored for first responders.
GovTechMobility & TransportationSaaS
Alex Hedberg(Founder)in
Co-investorsIndustrifonden
A venture capital firm investing €1–6M in Seed to Series A companies at the intersection of life science and technology, covering digital health, medtech, and life science tools.
BiotechDigital HealthMedical Devices
Iconovo develops advanced inhaler platforms and dry powder formulations optimized together to deliver medicines through inhalation across multiple therapeutic areas.
BiotechDeep TechHealthtechMedical DevicesSweden, SE
Orest Lastow(Founder)in
Intui develops AI software designed to replicate biological learning and reasoning, enabling systems to understand environments and learn through natural instinct rather than synthetic datasets.
AI & Machine LearningDeep TechRoboticsStockholm, SE
Co-investorsLeksell Social VenturesLU InnovationLuminar VenturesMist VenturesNavigare VenturesSNÖ Ventures
Melius Pharma is a drug development company that operates with part-time experts and external providers to conduct strategic and operational pharmaceutical development.
BiotechHealthtech
Mark Kornfeld(CEO)inChristoph Nowak(CMO)Ove Pedersen(Head of CMC)Hugo Petit(CFO)
Nordhealth is a healthcare SaaS company that acquires, develops, and manages practice management software for veterinarians and therapists.
Digital HealthHealthtechMedical DevicesSaaSStockholm, SE
CyteType is a cell type annotation tool for single-cell RNA-seq data that provides evidence trails for annotations, Cell Ontology standardization, and disease context handling.
AI & Machine LearningBiotechData & InfrastructureDeep TechSaaS
Oncorena is a Swedish pharmaceutical company developing a breakthrough treatment for metastatic renal cancer based on the drug candidate ONC175 (orellanine).
BiotechHealthtechMedical DevicesStockholm, SE
Börje Haraldsson(Research lead)inJenny NyströminUlf NilssonLisa BuvallinPål FalckinSusanna Dahlgren(Chief Operating Officer)in
Co-investorsHealthCapGU Ventures AB
OssDsign develops orthopedic and spine medical devices, drawing on expertise across clinical affairs, sales, and manufacturing from leading companies like Medtronic and Boston Scientific.
BiotechMedical DevicesNew MaterialsStockholm, SE
Mark(CEO)Anders(CFO)Melanie(VP Clinical and Medical Affairs)Eric Patermo(VP Strategic Initiatives)inTom(CTO)Steve(VP Marketing)
Nanotechnology company creating a bioactive implant surface that facilitates integration into bone.
Co-investorsChalmers Ventures ABAlmi Invest
SAGA Diagnostics develops molecular residual disease testing for cancer detection, combining genomic expertise to identify cancer at early treatable stages.
AI & Machine LearningBiotechDigital HealthHealthtechMedical DevicesResearch Triangle Park, US
Roopom Banerjee(Executive Chairman)in
Co-investorsHadean VenturesLU InnovationSciety
Saveggy makes a plant-based edible coating from rapeseed oil and gluten-free oat oil that extends the shelf life of fresh produce and reduces food waste and plastic use.
Circular EconomyFoodTechNew Materials
Co-investorsLRF Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
BeamonicsBrickBrightbidCheckin ComESGFida BiosystemsFidabioMoroxite FNygenPartner Def SolutionsTendiumTrackpawYazen
Portfolio news
latest coverage across their companies
Iconovo · tradingview.com · Aug 20, 2026
Frequently asked questions
- How many investments has FSG made?
- FSG has 31 tracked investments, including 2 dated in the last 24 months.
- What stage does FSG invest at?
- FSG invests at the Pre-Seed, Seed stages.
- What is FSG's typical check size?
- FSG typically writes checks of $1.1M – $6.5M.
- What sectors does FSG focus on?
- FSG focuses on Biotech, Consumer, Deep Tech, Digital Health, Healthtech, Impact & Social Good, Medical Devices.
- Where is FSG located?
- FSG is headquartered in Lund, SE.
- Who does FSG co-invest with?
- FSG most often shares deals with Chalmers Ventures AB, Industrifonden, LU Innovation, among 15 tracked co-investors.
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