How many investments has Novator made?

Novator has 10 tracked investments, including 1 dated in the last 24 months.

What stage does Novator invest at?

Novator invests at the Seed, Series A, Series B, Series C, Growth stages.

What sectors does Novator focus on?

Novator focuses on Sector Agnostic.

Where is Novator located?

Novator is headquartered in Zug, CH.

Novator

Growth equity

Zug · Seed–Growth · 8 people tracked

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Find your way into Novator

2,075 people in our graph share verified history with the Novator team — schools, employers, funds. One of them is your warm intro.

James Detweilerunlockedknows Ingo Eschweiler · together at Morgan Stanley (overlapped)

×5knows the team · via Morgan Stanley

×3knows the team · via McKinsey & Company

knows the team · via Credit Suisse

knows the team · via London Business School

knows the team · via Booz & Company

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Investment thesis

The firm invests across a range of situations spanning traditional private and growth equity through to special situations, including turnarounds of underperforming assets, equity and debt raising, and facilitating exits via M&A or IPO. As part of its value creation approach, it aims to actively support portfolio companies by contributing its resources, networks, and lessons learned and best practices accumulated from current and prior investments.

Invests inSector AgnosticEurope Iceland Latin America London United Kingdom Zug

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Growth

Zug, CH

Instruments

Equity · Debt

Founded

2004

Tracked investments

Team · 8 people

from the firm's website & public directories

Thor Björgólfsson· Chairman and Founder· Newbury, England, United Kingdomin

Icelandic investor who founded Novator in 2004 after building and selling the Bravo brewing group to Heineken, later diversifying into telecoms and pharmaceuticals. He invests in emerging markets and sustainability initiatives, and is a finance graduate of NYU's Stern School of Business.

Thor Bjorgolfsson· Chairperson, Founding Partner· Newbury, England, United Kingdomin

Beat Brägger· Strategic Financial Partner

Joined Novator in 2023, overseeing financial management and parts of the group's portfolio. He previously co-founded Piemontana and held CFO positions, with earlier roles at Bain & Company and UBS.

Ingo Eschweiler· Principal· San Francisco, California, United States

Joined Novator in 2018 after working in Morgan Stanley's Investment Banking Division across Frankfurt, Sydney and London on M&A and IPO transactions. He holds an MSc in Management from London Business School.

Anna-Kreeta Rantamaa-Hiltunen· Director· Luxembourg

Joined Novator in 2009 to establish its Luxembourg office, managing legal, financial and regulatory matters for the group's entities. She holds two LL.M. degrees and previously worked in trust and wealth management.

Florian Reich-Rohrwig· CFO· Zug, Zug, Switzerlandin

Chief Financial Officer of Novator since 2021, overseeing the group's financial matters. He previously led a Swiss single family office and held senior roles at another large European family office, starting his career as a Junior Partner at McKinsey.

Kurt Agner· Finance Manager

Joined Novator in 2022 focusing on financial, liquidity and management reporting. A Swiss Certified Expert for Accounting and Controlling with prior experience at a large European single family office and in corporate finance.

Peter Mitchell· Chief Legal Officer· Switzerlandin

Chief Legal Officer of Novator focusing on wealth planning, investment structuring and commercial transactions. He previously worked in trust structuring at Credit Suisse and UBS and in Baker McKenzie's tax and wealth management department.

What they invest in

from 10 of 10 portfolio companies

Consumer ×3Gaming ×3Enterprise Software ×2Fintech ×2SaaS ×2Advanced Manufacturing ×1AI & Machine Learning ×1Circular Economy ×1

HQs:United Kingdom×2Canada×1Germany×1Luxembourg×1United States×1

Investments · 10 tracked

founders shown can be your intro path

By year:2025 · 1 2024 · 1 2023 · 1 2022 · 1 2020 · 26 dated

Fabrafabra.com inOct 2020 · $20M

Fabra offers a 3D design editor that lets designers work from product templates to test fits, colors, fabrics, and graphics, then generate tech packs to share with manufacturers.

Advanced ManufacturingConsumerDeveloper ToolsRetail TechSaaSOrmond Beach, US

Nick Manks(Co-founder)inGloria(Co-founder)Luke(Co-founder)

Co-investorsRLC Ventures Asabys Partners Frumtak Ventures January Capital Side Stage Ventures

Klangklang-games.com in 𝕏Jul 2022 · $41M

Klang is a game studio that builds large-scale virtual worlds and online game services, including back-end infrastructure and clients used to access those services.

Gaming

Ívar Emilsson(Founder)inOddur Snær Magnússon(CTO / Co-Founder)

Co-investorsBitkraft Esports Ventures Makers Fund Mosaic Ventures New Life Ventures Northzone Roosh Ventures +4 more

Nord Securitynordsecurity.com inSeries B · Sep 2023 · $100M

Nord Security provides online privacy and security solutions on a global scale, helping to address cybercrime and data protection issues for people worldwide.

ConsumerCybersecurity

Co-investorsBaltCap Burda Principal Investments General Catalyst Warburg Pincus

Novatornovator.lu

Novator is an investment holding company that invests in business portfolios across telecoms, pharmaceuticals, and emerging markets in Central and Eastern Europe, Latin America, and Iceland.

Climate TechCloud ComputingEnterprise SoftwareFintechSector AgnosticLuxembourg, LU

Thor Björgólfsson(Chairman and Founder)in

Co-investorsLondon Venture Partners Ubisoft

Numannuman.comSeries B · Jul 2025 · $33.5M

Numan is a UK-based, CQC-regulated online healthcare provider offering personalised medical treatments, diagnostics, and clinical coaching for metabolic health, hormonal balance, and longevity.

Digital HealthDirect to ConsumerHealthtechLongevityWellness & FitnessUK, GB

Sokratis Papafloratos(Founder and CEO)

Co-investorsAnthemis Venture Big Pi Ventures Colle Capital Partners VNV Global White Star Capital

Olive Technologiesolive.app in 𝕏

Olive provides technology evaluation services to streamline the process of assessing and comparing solutions.

AI & Machine LearningEnterprise SoftwareFintechSaaSVancouver, CA

Co-investorsTechstars Active Capital

Rebagrebagg.com

Rebag operates an online marketplace for buying, selling, and trading luxury goods including designer bags, accessories, watches, jewelry, apparel, and shoes.

Circular EconomyE-commerceMarketplaces

Charles Gorra(Founder)in

Co-investorsKima Ventures Runway Venture Partners General Catalyst

Steel City Interactivesteelcityinteractive.co.uk 𝕏May 2024 · $18.8M

Steel City Interactive is an independent video game studio that developed 'Undisputed', a boxing simulation game created in collaboration with figures and organizations across the boxing industry.

GamingSheffield, GB

Ash Habib(Founder)Asif Habib(Co-founder)Asad Habib(Co-founder)

TIER Mobilitytier.app in 𝕏

TIER operates a shared electric micromobility service (e-scooters and related vehicles) available in over 400 cities across Europe and the Middle East.

CleantechConsumerMobility & TransportationBerlin, DE

Lawrence Leuschner(Founder)in Henri Moissinac(Founder)inMatthias Laug(Founder)

Co-investorsEthos VC Evli Growth Partners Grazia Equity GmbH Imagination Capital Indico Capital Partners Isomer Capital +10 more

Zwiftzwift.comSep 2020 · $450M

Zwift is an indoor cycling and training app that connects to smart trainers and dedicated smart bikes, letting cyclists ride, train, and compete virtually with others.

GamingHardwareSports Tech

Eric Min(Founder)in

Co-investorsCauseway Partners Highland Europe Hiro Capital Pale Fire Capital True.Amazon Alexa Fund +2 more

Portfolio news

latest coverage across their companies

Top 5 Zwift Videos: Alpe du Zwift, Zwift vs IRL, and Zwift Racing League | Zwift Insider

Zwift · zwiftinsider.com · Aug 19, 2026

Fabra raises $2.8m as design platform makes a public debut

Fabra · businessnewsaustralia.com · Nov 11, 2025

Frequently asked questions

How many investments has Novator made?: Novator has 10 tracked investments, including 1 dated in the last 24 months.
What stage does Novator invest at?: Novator invests at the Seed, Series A, Series B, Series C, Growth stages.
What sectors does Novator focus on?: Novator focuses on Sector Agnostic.
Where is Novator located?: Novator is headquartered in Zug, CH.

Images

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