Nordic Capital
Private equityFrankfurt am Main · Growth–Late Stage · 7 people tracked
Investment thesis
Nordic Capital pursues control-oriented private equity investments in selected sectors where it has proven expertise: Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. It operates separate funds for different deal sizes but with a common sector focus — a main strategy targeting companies valued above EUR 300 million and a mid-market strategy for companies valued EUR 50-500 million. As majority owner, it partners with management teams to drive growth acceleration, structural transformation, operational improvement, buy-and-build, strategic repositioning, and international expansion. The firm emphasizes deep sector knowledge, understanding of structural trends, avoiding reliance on the wider economy, and embedding sustainability across its approach.
Source: firm website, verified Aug 7, 2026.
Team · 7 people
from the firm's websiteInvestments · 6 tracked
founders shown can be your intro pathGlobal specialty pharmaceutical company focused on specialty hospital and rare disease pharmaceuticals, acquired by Nordic Capital in 2021.
European veterinary care company that grew fourfold under Nordic Capital ownership, expanding from 50 to over 200 clinics.
Healthcare portfolio company whose exit was announced in 2025, described as the largest complete healthcare private equity exit announced globally that year.
Portfolio company taken public via IPO by Nordic Capital funds in 2025.
Regulatory and supervisory technology provider for financial services; grew from a DACH-focused regulatory reporting software provider into an international player after Nordic Capital's 2020 investment.
A construction waste management company that has digitalised the entire process from waste generation on-site through sorting, recycling, and sustainability reporting using smart technology, optimised logistics, BI analytics, and real-time reporting.
Fund performance · per public LP disclosures · 18
as of Dec 2024| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Nordic Capital Evo II Beta SCSpLPs: Los Angeles City Employees' Retirement System | 2024 | — | — | 0.00x | — |
| Nordic Capital Fund XILPs: Washington State Investment Board, Minnesota State Board of Investment, Teachers' Retirement System of the City of New York +7 more | 2022 | — | 19.5% | 1.23x | 0.04x |
| Nordic Capital XILPs: New York City Employees' Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund | 2022 | — | — | 1.23x | 0.00x |
| Nordic Capital XI Co-InvestLPs: New York City Employees' Retirement System, New York City Fire Department Pension Fund, New York City Board of Education Retirement System | 2022 | — | — | 1.39x | 0.00x |
| Nordic N11 Co-InvestmentLPs: New York City Police Pension Fund | 2022 | — | — | 1.39x | 0.03x |
| Nordic Bear SCSpLPs: California Public Employees' Retirement System | 2021 | — | 11.5% | 1.24x | 0.03x |
| Nordic Capital Fund X, L.P.LPs: Washington State Investment Board, Minnesota State Board of Investment, South Carolina Retirement System Investment Commission | 2021 | — | 14.2% | 1.50x | 0.20x |
| Nordic Capital Fund IX, L.P.LPs: Washington State Investment Board | 2019 | — | 15.7% | 1.80x | 0.59x |
| Nordic Capital CV1 Beta, L.P.LPs: Washington State Investment Board, Sjätte AP-fonden (AP6) | 2018 | — | 12.7% | 1.50x | 1.50x |
| Nordic Capital IX Beta, L.P.LPs: Minnesota State Board of Investment | 2017 | — | 15.0% | 1.79x | 0.60x |
| Nordic Capital Fund VIII, L.P.LPs: Washington State Investment Board, Minnesota State Board of Investment, Empire State Development – New York Ventures +2 more | 2013 | — | 12.4% | 1.61x | 1.32x |
| Nordic Capital VIIILPs: Oregon Public Employees Retirement System | 2013 | — | 15.3% | 1.70x | 1.70x |
| Nordic Capital Fund VII, L.P.LPs: Washington State Investment Board | 2008 | — | 5.2% | 1.30x | 1.32x |
| Nordic Capital VIILPs: Washington State Investment Board, New Mexico Public Employees Retirement Association, Employees' Retirement System of Rhode Island +1 more | 2008 | — | — | 1.38x | 1.38x |
| Nordic Capital Fund VI, L.P.LPs: Washington State Investment Board, Employees' Retirement System of Rhode Island | 2006 | — | 8.7% | 1.73x | 1.73x |
| Nordic Capital V, L.P.LPs: Washington State Investment Board, Employees' Retirement System of Rhode Island, Los Angeles City Employees' Retirement System | 2003 | — | 20.5% | 2.70x | 2.73x |
| Nordic Capital Fund IV, L.P.LPs: Washington State Investment Board | 2000 | — | 33.2% | 2.80x | 2.82x |
| Nordic Capital Fund III, L.P.LPs: Washington State Investment Board | 1998 | — | 31.3% | 3.60x | 3.57x |
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
- What stage does Nordic Capital invest at?
- Nordic Capital invests at the Growth, Late Stage stages.
- What sectors does Nordic Capital focus on?
- Nordic Capital focuses on Advanced Manufacturing, Biotech, Cleantech, Cybersecurity, Enterprise Software, Fintech, Healthtech, InsurTech, Logistics & Supply Chain, Medical Devices, SaaS.
- Where is Nordic Capital located?
- Nordic Capital is headquartered in Frankfurt am Main, DE.
- Does Nordic Capital lead rounds?
- Yes, Nordic Capital leads investment rounds.
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