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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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 Founderin

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

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· Principalin

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· CFOin

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 5 of 7 portfolio companies

Consumer ×2AI & Machine Learning ×1Circular Economy ×1Cleantech ×1Cybersecurity ×1E-commerce ×1Enterprise Software ×1Fintech ×1

HQs:Canada×1Germany×1United Kingdom×1

Investments · 7 tracked

founders shown can be your intro path

By year:2025 · 1 2024 · 1 2023 · 13 dated

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

An investment firm that provides private and growth equity, special situations financing, turnarounds, and debt raising, and supports portfolio companies with resources and connections through M&A or IPO exits.

Sector Agnostic

NumanSeries B · Jul 2025 · $33.5M

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)inHenri Moissinac(Founder)Matthias Laug(Founder)

Co-investorsEthos VC Evli Growth Partners Grazia Equity GmbH Imagination Capital Isomer Capital Market One Capital +9 more

Frequently asked questions

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.

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