Scaling the North: 11 Investors Fueling Oslo's Startup Scene in 2025
Oslo has quickly evolved from an oil & energy economy into a northern European hub for technology and venture capital. With clusters in ICT, SaaS, life sciences, and green tech, founders in 2025 will find a broad mix of VC firms in Oslo ready to back globally scalable startups.
Thanks to strong institutional players like Investinor and Norfund, plus a vibrant private VC scene including SNÖ Ventures and Alliance Venture, the city has become an increasingly strategic launchpad for Nordic entrepreneurs.
Quick list of top venture capital firms in Oslo in 2025
- Alliance Venture – Early-stage investor focusing on ICT, SaaS, AI, fintech, and green tech, with tickets up to €10M.
- SNÖ Ventures – Backer of tech startups in gaming, AI, and fintech with flexible early-stage checks.
- Sandwater – VC fund investing in health, sustainability, and agri-tech companies.
- nFront Ventures – Investor focused on fintech, consumer, food, and fashion ventures at seed stage.
- Skyfall Ventures – Specialist in HealthTech, Web3, and fintech, targeting pre-seed and seed founders.
- Hadean Ventures – Life sciences specialist investing in biotech, medtech, and healthcare innovation.
- Norfund – Norway’s state development investor funding clean energy, financial inclusion, and sustainable development globally.
- Startuplab – Oslo’s leading incubator and seed-stage investor, writing first checks of $100k–$300k into tech startups.
- Katapult VC – Impact-focused global accelerator and VC based in Oslo, backing startups in climate, ocean, and impact tech.
- Arkwright X – Corporate venture arm of Arkwright Consulting, investing in Nordic early-stage tech startups with strategic potential.
- Antler Oslo – Accelerator + venture fund supporting early-stage founders in SaaS, consumer, and fintech.
How to find the right VC firms in Oslo
Choosing the right VC firms in Oslo can shape your startup journey. Here’s how to narrow your search:
- Stage fit: Alliance and SNÖ focus on early-stage; Investinor and Norfund lean toward later rounds.
- Sector focus: Life sciences (Hadean), sustainability (Sandwater), and Web3 (Skyfall) each have specialized mandates.
- Institutional links: Government-backed funds like Investinor or Norfund can anchor rounds and de-risk syndicates.
- Accelerator edge: Programs like Antler and Startuplab offer capital plus mentorship.
- Regional scaling: Oslo investors typically expect Nordic founders to scale internationally early.
You can discover more investors through the Papermark Investor Database, with filters by stage, geography, and sector.
How to send your pitch deck to VC firms in Oslo
When approaching vc in Oslo, your pitch deck is not just a file — it’s your first impression. Make it count:
- Don’t send static PDFs: They get buried.
- Use smart links: Share a trackable deck via Papermark.
- Make it relevant: Show how your solution fits Nordic or European market needs.
- Lead with traction: Revenue, retention, and growth matter more than hype.
- Be concise: Investors in Oslo appreciate direct, data-driven decks.
- Highlight sustainability: Many Oslo VCs care deeply about ESG impact.
- Track engagement: Know exactly when and how long investors reviewed your slides.
Why use a pitch-deck link?
- Get notified when an accelerator team opens your deck
- Track how long they were on each page of your deck
- Capture emails of those who viewed your deck
- Protect your IP using watermark, screenshot protection and other link permissions
- Securely send data room with multiple documents
Table
| Accelerator | Location | Investment Size | Program Length | Focus Areas | Success Rate |
|---|---|---|---|---|---|
| Alliance Venture | Oslo, Norway | — | Ongoing | ICT, SaaS, AI, fintech, climate | — |
| SNÖ Ventures | Oslo, Norway | USD 500k–5M | Ongoing | Early-stage tech (Nordics), AI, gaming, fintech | — |
| Sandwater | Oslo, Norway | — | Ongoing | Health, sustainability, agri/food, climate tech | — |
| nFront Ventures | Oslo, Norway | — | Ongoing | Fintech, consumer, brand/commerce | — |
| Skyfall Ventures | Oslo, Norway | NOK 5M initial (typical) | Ongoing | Pre-seed/seed, frontier & digital tech | — |
| Hadean Ventures | Oslo, Norway | — | Ongoing | Life sciences, biotech, medtech | — |
| Norfund | Oslo, Norway | Varies (growth & infrastructure) | Ongoing | Clean energy, financial inclusion, sustainable dev. | — |
| Startuplab (incubator & seed investor) | Oslo, Norway | $100k–$300k (typical first round) | Ongoing | Early-stage Norwegian tech | — |
| Katapult VC (accelerator & seed) | Oslo, Norway | $150k (accelerator) + follow-on | ~3 months (accelerator); ongoing fund | Impact/climate, ocean & land tech | — |
| Arkwright X | Oslo, Norway | — | Ongoing | Early-stage, B2B, industrial & software | — |
| Antler Oslo | Oslo, Norway | €200k upfront (+€300k matching pre-commit) | Ongoing (accelerator + fund) | SaaS, consumer, fintech, AI | — |
1. Alliance Venture
Established VC headquartered in Oslo, investing in early-stage Nordic tech across ICT, SaaS, fintech and climate.
- Focus: ICT, SaaS, AI, fintech, climate
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Alliance Venture
2. SNÖ Ventures
Oslo-based early-stage VC backing ambitious Nordic tech founders; HQ in Oslo.
- Focus: Early-stage tech (AI, gaming, fintech)
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: USD 500k–5M
- Equity free: No
- Website: SNÖ Ventures
3. Sandwater
Impact-driven VC headquartered in Oslo investing for a healthier planet and people.
- Focus: Health, sustainability, agri/food, climate tech
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Sandwater
4. nFront Ventures
Early-stage fund headquartered in Oslo; co-invests and supports fundraising execution.
- Focus: Fintech, consumer/brand, commerce
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: nFront Ventures
5. Skyfall Ventures
Pre-seed/seed VC based in Oslo; initial checks around NOK 5M with follow-on potential.
- Focus: Frontier & digital tech, pre-seed/seed
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: NOK 5M initial (typical)
- Equity free: No
- Website: Skyfall Ventures
6. Hadean Ventures
Healthcare-focused VC headquartered in Oslo with a Stockholm office.
- Focus: Life sciences, biotech, medtech
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Hadean Ventures
7. Norfund
Norway’s state development investor with head office in central Oslo.
- Focus: Clean energy, financial inclusion, sustainable development
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: Varies by project/vehicle
- Equity free: No
- Website: Norfund
8. Startuplab (incubator & seed investor)
Leading Norwegian incubator/seed investor based in Oslo; typical first checks $100k–$300k.
- Focus: Early-stage Norwegian tech
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: $100k–$300k
- Equity free: No
- Website: Startuplab
9. Katapult VC (accelerator & seed)
Impact accelerator & seed investor headquartered in Oslo; accelerator invests $150k with follow-on from Katapult funds.
- Focus: Impact/climate, ocean & land tech
- Location: Oslo, Norway
- Program length: ~3 months (accelerator); ongoing funds
- Investment: $150k accelerator (+ follow-on)
- Equity free: No
- Website: Katapult VC
10. Arkwright X
Early-stage VC headquartered in Oslo (Aker Brygge area), partnering with ambitious B2B/industrial software founders.
- Focus: Early-stage, B2B, industrial & software
- Location: Oslo, Norway
- Program length: Ongoing
- Investment: Not publicly disclosed
- Equity free: No
- Website: Arkwright X
11. Antler Oslo
Accelerator + venture fund with the Norway unit headquartered in Oslo. Antler invests €200k upfront if you pass IC (€100k for equity + €100k SAFE), and pre-commits €300k matching, enabling up to €500k into the first rounds.
- Focus: SaaS, consumer, fintech, AI
- Location: Oslo, Norway
- Program length: Ongoing (accelerator + fund)
- Investment: €200k upfront (+€300k matching pre-commit)
- Equity free: No
- Website: Antler Oslo
Prepare for Demo Day: what Oslo VCs expect
When pitching to VCs in Oslo, Demo Day is more than a showcase — it’s your chance to prove global potential. Oslo’s venture community is small but highly connected, and investors expect substance as well as vision.
It’s not just about a slick pitch — you’ll need to back it up with real traction and thoughtful strategy. Expectations typically include:
- Prove clear problem-solution fit with measurable market demand
- Present strong evidence of traction (users, revenue, retention)
- Highlight why your team is uniquely suited to solve this problem
- Lay out a realistic go-to-market plan for the Nordics and beyond
- Be ready for questions on valuation, runway, and next milestones
Use Papermark to share your pitch deck securely and track investor engagement.
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Final Thoughts
Oslo may not yet rival Stockholm or Berlin in sheer capital volume, but the city’s mix of institutional giants and nimble VC funds makes it a powerful launchpad for ambitious founders. By connecting with the right VC firms in Oslo, startups can not only secure funding but also gain access to Nordic networks, international markets, and long-term support.