Fundraising Fox
FSN Capital Partners AS
Private equityOslo · Growth–Late Stage · 12 people tracked
Also known as FSN
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Investment thesis
FSN Capital is a leading Northern European private equity firm that has invested since 1999. Its funds take control positions in growth-oriented companies across Northern Europe, focusing on the industrials, services, and technology sectors. The firm emphasizes building sustainable and resilient businesses designed to endure over the long term, generating returns for investors while contributing to the welfare of society. FSN promotes responsible investing, climate and biodiversity considerations, and a values-driven culture summarized as being decent people making a decent return in a decent way.
Source: firm website, verified Sep 29, 2026.
Team · 12 people
from the firm's website & curated
What they invest in
from 8 of 33 portfolio companiesAI & Machine Learning ×3Construction Tech ×2Consumer ×2Enterprise Software ×2Retail Tech ×2SaaS ×2Advanced Manufacturing ×1Cleantech ×1
HQs:Sweden×2Denmark×1
Investments · 33 tracked
founders shown can be your intro pathActive Brands is a house of sports and outdoor apparel and equipment brands, operating a portfolio of consumer labels across athletic and outdoor categories.
ConsumerRetail TechSports Tech
Fellowmind is a Microsoft partner that helps organizations adopt modern technology and undertake digital business transformation, with a focus on SME and corporate customers across EMEA.
AI & Machine LearningCloud ComputingEnterprise Software
Gram Equipment specializes in ice cream production equipment and solutions, serving frozen food manufacturers globally.
Advanced ManufacturingAI & Machine LearningFoodTechHardwareIoTVojens, DK
Hans Gram
Co-investorsProcuritas
Green Landscaping Group operates and develops companies focused on outdoor environments and infrastructure, providing landscaping and grounds maintenance services with an emphasis on sustainability and safety.
Construction TechImpact & Social Good
Instalco provides technical installation services for buildings and industry across the Nordics, covering electrical, plumbing/heating (VS), ventilation, industrial systems, and technical consulting from planning and design through installation, operation and service.
CleantechConstruction TechEnergy
Netcompany is an international IT services and consulting company that builds and delivers customisable, deployable, AI-ready software platforms for business and public-sector clients.
Enterprise SoftwareGovTechSaaS
Sneakersnstuff is an online retailer selling sneakers and streetwear apparel from brands including adidas, Nike, New Balance, Vans, and Butter Goods.
ConsumerE-commerceRetail TechStockholm, SE
Vizrt builds AI-powered live production, vision mixing, newsroom, and real-time graphics tools for broadcasters, sports, enterprise, and creator teams.
AI & Machine LearningMedia & EntertainmentSaaS
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
ActicAdragos PharmaAgitoAlignment SystemsAura LightCTEKFIBOFitness WorldHusCompagnietInstallatørgruppenJAMOKongsbergLagkagehusetNordloNorlandiaNormanPMRoplanSkamolTactelTeres Medical GroupTroaxVIA Travel GroupVindoraVITA
Fund performance · per public LP disclosures · 2
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| FSN Capital Compass ILPs: Orange County Employees Retirement System | 2022 | — | — | 0.60x | — |
| FSN Capital VI, L.P.LPs: Orange County Employees Retirement System, Santa Barbara County Employees' Retirement System, Sjätte AP-fonden (AP6) | 2021 | — | 4.9% | 1.20x | 0.01x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has FSN Capital Partners AS made?
- FSN Capital Partners AS has 33 tracked investments.
- What stage does FSN Capital Partners AS invest at?
- FSN Capital Partners AS invests at the Growth, Late Stage stages.
- What sectors does FSN Capital Partners AS focus on?
- FSN Capital Partners AS focuses on Enterprise Software, SaaS, Sector Agnostic.
- Where is FSN Capital Partners AS located?
- FSN Capital Partners AS is headquartered in Oslo, NO.
- Does FSN Capital Partners AS lead rounds?
- Yes, FSN Capital Partners AS leads investment rounds.
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