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.
Team · 13 people
from the firm's website & curatedFounder 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 companiesSaaS ×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 pathBy year:2026 · 12024 · 32022 · 22021 · 17 dated
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
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
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 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
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
ActiveViam builds Atoti, an AI-native enterprise risk intelligence and analytics platform for capital markets and financial institutions.
Data & InfrastructureEnterprise SoftwareFintech
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
ArisGlobal provides software for life sciences research and development, covering drug development, drug safety monitoring, and regulatory compliance.
AI & Machine LearningBiotechHealthtechSaaS
Co-investorsAbbhi Capital
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 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
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
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 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
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
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
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
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 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
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 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
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
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
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)
Sambla Group builds tools, services, and financial education guides that help consumers make informed personal finance decisions, including loan comparison and savings products.
ConsumerFintech
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 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 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
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
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 companiesKlaimee · ycombinator.com · May 3, 2026
TradingHub · finsmes.com · Mar 17, 2026
Cint · cint.com · Apr 7, 2025
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
- 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.
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