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Nordic Capital

Private equityoperating company · company profile

Stockholm · Growth–Late Stage · 13 people tracked

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Investment thesis

Nordic Capital targets the global healthcare sector, which it views as undergoing transformative change driven by ageing populations, rising wealth in emerging markets, and trends toward patient centrism, digitalisation, and innovation. The firm invests across the healthcare spectrum, specializing in pharma, healthtech, medtech and life sciences, and healthcare services, seeking companies with strong growth potential, the ability to expand into new markets, and industry-leading innovation or value propositions. It positions itself as one of the most active and experienced healthcare investors worldwide, having made numerous platform investments and deployed significant equity capital in the sector over several decades.

Source: firm website, verified Sep 29, 2026.

Stage
Growth–Late Stage
HQ
Stockholm, SE
Leads rounds
Leads
Instruments
Equity
Founded
1989
Last 12 months
1 investment
AUM
$40B
Tracked investments
46
Acquisitions
1

Team · 13 people

from the firm's website & curated
Katarina Janerud· Communications Manager, Nordic Capital Advisorsin

Communications Manager at Nordic Capital Advisors and the media contact for the firm.

Founder mafia

4 people who came through Nordic Capital went on to found or lead other companies.

What they invest in

from 33 of 46 portfolio companies

SaaS ×18Fintech ×16Enterprise Software ×13AI & Machine Learning ×9Healthtech ×8Medical Devices ×5Data & Infrastructure ×4Hardware ×4

HQs:Sweden×8United States×7United Kingdom×3Germany×1Norway×1

Investments · 46 tracked

founders shown can be your intro path

By year:2026 · 12024 · 32022 · 22021 · 17 dated

BMLLbmlltech.comin𝕏✓ verified

BMLL provides historical market data, analytics, and research capabilities to financial institutions and market infrastructure firms, enabling them to integrate insights into existing workflows for better decision-making across global capital markets.

AI & Machine LearningData & InfrastructureEnterprise SoftwareFintechSaaSCambridge, GB

Paul Humphrey(CEO)in

Co-investorsSnowflake VenturesQVenturesSamos Investments

Boostboost.aiin✓ verified

Boost.ai builds a conversational AI platform that automates human-to-organization interactions for enterprises in financial services, telecommunications, hospitality, and public sectors.

AI & Machine LearningEnterprise SoftwareSaaSNorway, NO

Lars Selsås(Founder)in

Co-investorsAlliance VCAlliance Venture

Foxwayfoxway.comin✓ verified

Foxway provides circular technology services including device refurbishment, resale, and recycling through subsidiaries across Europe, Asia, and the US, serving large organizations and resellers with a Device-as-a-Service subscription model for IT equipment.

B2B MarketplacesCircular EconomyClimate TechE-commerceEnterprise SoftwareSaaSStockholm, SE

Patrick Höijer(Chief Executive Officer)in

Co-investorsBarkawi Group

One Inconeincsystems.comin𝕏✓ verifiedAcquired

One Inc operates a digital payments network for the insurance industry, handling premium and claims payments for property, casualty, life, and annuity insurers.

Enterprise SoftwareFintechInsurTechSaaSFolsom, US

Cory Levy(Cofounder)Ian

Co-investorsGreat Hill PartnersAmerican Family VenturesCamp One VenturesCentana Growth PartnersCentana PartnersDoon Capital+3 more

Zafinzafin.comin𝕏✓ verified

Zafin provides a cloud-based SaaS platform and AI-powered solutions for financial institutions to modernize critical operations, governance, and analytics.

AI & Machine LearningEnterprise SoftwareFintechSaaS

Charbel Safadi(CEO)in

Co-investorsVistara GrowthAccenture Ventures

ActiveViamactiveviam.comFeb 2024

ActiveViam builds Atoti, an AI-native enterprise risk intelligence and analytics platform for capital markets and financial institutions.

Data & InfrastructureEnterprise SoftwareFintech

Advanz Pharmaadvanzpharma.cominFeb 2024

ADVANZ PHARMA Corp.

BiotechHealthtech

Anaquaanaqua.comin𝕏

Anaqua develops IP management software and services for organizations to manage the full lifecycle of patents, trademarks, designs, and contracts.

Enterprise SoftwareLegalTechSaaSBoston, US

Justin Crotty(CEO of Anaqua)inErik Bailey(Chief Information Officer)inBlair Flicker(Vice President and Assistant Secretary)

BoardRobert Goodman(Director)inPeter Sobiloff(Secretary)

Co-investorsAstorgBessemer Venture PartnersInsight Partners

AniCuraanicuragroup.comin

AniCura operates a network of nearly 500 veterinary clinics across 15 European countries, providing preventive, basic, and specialized animal healthcare including diagnostics, surgery, orthopaedics, rehabilitation, and dietary advice.

Healthtech

ArisGlobalarisglobal.cominMay 2021

ArisGlobal provides software for life sciences research and development, covering drug development, drug safety monitoring, and regulatory compliance.

AI & Machine LearningBiotechHealthtechSaaS

Aman Wasanin

Co-investorsAbbhi Capital

Autocircautocirc.comin

Autocirc operates an ecosystem that recovers original auto parts from total loss vehicles so they can be reused, remanufactured, or recycled, connecting insurers and repair workshops to reintroduce these parts to the spare parts market.

Circular EconomyClimate TechMobility & Transportation

Mattias Pettersson(Founder)in

Co-investorsAdams Street PartnersAlder III Advisory

Cary Groupcarygroup.com

Cary Group provides vehicle glass repair and replacement services across Europe through local brands, including calibration of cameras and sensors after windshield replacement, and offers auto body and collision repair in the Nordics.

Mobility & Transportation

Cintcint.com

Cint operates an online research marketplace that connects researchers, advertisers, and supply partners to survey respondents across 130 countries for market research and media measurement.

Data & InfrastructureMarketing TechMarketplaces

Patrick Comer(CEO)in

Co-investorsPrime VenturesCreandum

iLOQiloq.com

iLOQ makes battery-free and cable-free electronic locks and digital key systems, using smartphone-based and digital keys with cloud-based administration.

HardwareIoTPropTech

Intrum ABintrum.com

Intrum is a European credit management services provider that helps businesses secure payments and recover outstanding debts while supporting consumers in regaining financial stability.

AI & Machine LearningEnterprise SoftwareFintech

Itivitiitiviti.com

Itiviti provides multi-asset trading technology, including order and execution management systems, connectivity, and order routing, for sell-side and buy-side financial firms.

Enterprise SoftwareFintechSaaS

Klaimeeklaimee.aiin𝕏Seed

Klaimee provides AI liability insurance and risk certification for autonomous AI agents used by enterprise businesses.

AI & Machine LearningFintechInsurTechSan Francisco, US

Ines Boutemadja(Founder)inJulien Catonnet(Founder)in

Co-investorsFundersClubY CombinatorBlast.ClubDepth VenturesEx/AnteKima Ventures+5 more

Liberisliberis.comin𝕏

Liberis provides a multi-product capital platform that offers small businesses access to personalized funding options through a single integrated dashboard, including BNPL finance, lines of credit, merchant cash advances, and term loans.

B2B MarketplacesEnterprise SoftwareFintechSaaS

Co-investorsFTV CapitalBritish Business InvestmentsParagon Bank

Macrobondmacrobond.comin

Macrobond provides real-time financial data, analysis tools, and visualization capabilities for investment banking and financial research professionals.

Data & InfrastructureEnterprise SoftwareFintechSaaSAustin, US

Tomas Liljeborg(Founder)in

Co-investorsFrancisco Partners

Max Matthiessenmaxm.sein

Max Matthiessen is a Swedish financial advisory and insurance firm that helps companies and individuals with pensions, insurance, wealth management, and digital administration services.

Enterprise SoftwareFintechSaaSSweden, SE

Co-investorsAltor

Medomamedoma.comSep 2022

Medoma provides technology to support hospital-at-home care, enabling hospital-level treatment for high-acuity patients to be delivered in patients' homes.

Digital HealthHealthtechMedical DevicesSaaS

Henrik Bjartun(Founder)Johan Nordenström(Founder)Mikael Kastengren(Founder)

Co-investorsBonnier CapitalInventureInventureAtomicoBonnier VenturesCherry Ventures+2 more

NOBA Bank Groupnoba.bank

NOBA is a European specialist bank serving over two million retail and SME customers through four brands — Nordax Bank, Bank Norwegian, Svensk Hypotekspension, and DBT — offering lending and other financial products.

Fintech

Nordnetnordnetab.com

Nordnet operates a digital platform for savings and investments aimed at private savers, offering access to tools, information and financial products comparable to those used by professionals.

FintechSaaS

Permobilpermobil.comin

Permobil manufactures mobility and seating solutions, including the ROHO QUADTRO SELECT pressure-relieving cushion system, for individuals with mobility limitations or wheelchair users.

HardwareHealthtechMedical DevicesMobility & Transportation

Co-investorsInvestor

Progloveproglove.comin𝕏Apr 2024

ProGlove manufactures wearable barcode scanners for industrial workers, enabling hands-free operation and real-time data capture in warehouse and manufacturing environments.

Advanced ManufacturingHardwareIoTLogistics & Supply ChainMunich, DE

Paul Günther(Founder)inThomas Kirchner(Founder)inJonas Girardet(Founder)inKonstantin Brunnbauer(Founder)in

Co-investorsBayern KapitalCapmontHCVCKnife CapitalSummit PartnersTechFounders

Qredqred.seApr 2022 · $11M

Qred Bank is a Swedish bank specializing in financing for small businesses, offering business loans from SEK 50,000 up to SEK 5 million, a Qred VISA business credit card, and savings accounts for individuals.

FintechSaaS

Emil(CEO)

Regnologyregnology.netin𝕏

Regnology provides regulatory reporting, risk management, and compliance technology for banks, financial institutions, and regulators/supervisors, including supervisory lifecycle automation and improved data quality.

AI & Machine LearningFintechSaaS

Sambla Groupsamblagroup.com

Sambla Group builds tools, services, and financial education guides that help consumers make informed personal finance decisions, including loan comparison and savings products.

ConsumerFintech

Siteimprovesiteimprove.com

Siteimprove offers a content intelligence platform that analyzes websites for digital accessibility, SEO, and content quality, providing insights to help organizations fix issues and improve web performance.

AI & Machine LearningMarketing TechSaaS

Co-investorsSummit Partners

Sunrise Medicalsunrisemedical.comin𝕏

Sunrise Medical develops, manufactures, and distributes manual and powered wheelchairs, mobility scooters, and seating and positioning systems for people with mobility needs.

HardwareHealthtechMedical DevicesMobility & Transportation

Co-investorsPlatinumVestar Capital Partners

Sunrise Medicalsunrisemedical-group.comin𝕏

Sunrise Medical manufactures mobility and accessibility products that improve people's daily lives worldwide.

Advanced ManufacturingHealthtechMedical Devices

Thomas Babacan(President & Chief Executive Officer)in

Co-investorsEquistone Partners EuropePlatinum

Surgical Information Systemssisfirst.comin𝕏

SIS provides electronic health record and business management software for ambulatory surgery centers, hospitals, and related healthcare providers.

Digital HealthEnterprise SoftwareHealthtechMedical DevicesSaaSAlpharetta, US

Co-investorsOwl Rock CapitalVista Equity PartnersAccel-KKR

TradingHubtradinghub.cominMay 2026

TradingHub provides trade surveillance and market abuse detection resources, including analysis of cross-product abuse in fixed income markets.

AI & Machine LearningCybersecurityFintechSaaS

Mike Coats(CEO)in

Co-investorsSummit Partners

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

1741 GroupBWXT medical businessCint Group ABClariocorpulsFlowaFlowa Technology ABLEO PharmaNOBASensioSorteraThe Binding SiteVivecti Group

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures · 18

as of Dec 2024
FundVintageCommittedNet IRRTVPIDPI
Nordic Capital Evo II Beta SCSpLPs: Los Angeles City Employees' Retirement System2024——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 more2022—19.5%1.23x0.04x
Nordic Capital XILPs: New York City Employees' Retirement System, New York City Police Pension Fund, New York City Fire Department Pension Fund2022——1.23x0.00x
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 System2022——1.39x0.00x
Nordic N11 Co-InvestmentLPs: New York City Police Pension Fund2022——1.39x0.03x
Nordic Bear SCSpLPs: California Public Employees' Retirement System2021—11.5%1.24x0.03x
Nordic Capital Fund X, L.P.LPs: Washington State Investment Board, Minnesota State Board of Investment, South Carolina Retirement System Investment Commission2021—14.2%1.50x0.20x
Nordic Capital Fund IX, L.P.LPs: Washington State Investment Board2019—15.7%1.80x0.59x
Nordic Capital CV1 Beta, L.P.LPs: Washington State Investment Board, Sjätte AP-fonden (AP6)2018—12.7%1.50x1.50x
Nordic Capital IX Beta, L.P.LPs: Minnesota State Board of Investment2017—15.0%1.79x0.60x
Nordic Capital Fund VIII, L.P.LPs: Washington State Investment Board, Minnesota State Board of Investment, Empire State Development – New York Ventures +2 more2013—12.4%1.61x1.32x
Nordic Capital VIIILPs: Oregon Public Employees Retirement System2013—15.3%1.70x1.70x
Nordic Capital Fund VII, L.P.LPs: Washington State Investment Board2008—5.2%1.30x1.32x
Nordic Capital VIILPs: Washington State Investment Board, New Mexico Public Employees Retirement Association, Employees' Retirement System of Rhode Island +1 more2008——1.38x1.38x
Nordic Capital Fund VI, L.P.LPs: Washington State Investment Board, Employees' Retirement System of Rhode Island2006—8.7%1.73x1.73x
Nordic Capital V, L.P.LPs: Washington State Investment Board, Employees' Retirement System of Rhode Island, Los Angeles City Employees' Retirement System2003—20.5%2.70x2.73x
Nordic Capital Fund IV, L.P.LPs: Washington State Investment Board2000—33.2%2.80x2.82x
Nordic Capital Fund III, L.P.LPs: Washington State Investment Board1998—31.3%3.60x3.57x

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

How many investments has Nordic Capital made?
Nordic Capital has 46 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
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, Digital Health, Enterprise Software, Fintech, Healthtech, InsurTech, Logistics & Supply Chain, Medical Devices, SaaS.
Where is Nordic Capital located?
Nordic Capital is headquartered in Stockholm, SE.
Does Nordic Capital lead rounds?
Yes, Nordic Capital leads investment rounds.
Who does Nordic Capital co-invest with?
Nordic Capital most often shares deals with Adams Street Partners, Bessemer Venture Partners, Francisco Partners, among 14 tracked co-investors.

Images

Nordic Capital photoNordic Capital photo

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