Nordic venture capital firm Alliance VC has announced the first close of its third fund, Alliance Nordic III, with backing from leading institutional LPs including Saminvest (Sweden), KLP (Norway), Investinor (Norway), Smedvig (Norway), and Telenor (Norway). The fund aims to deploy €100 million to early-stage tech startups across the Nordic region, with a core focus on AI-driven companies.
The new fund cements Alliance VC’s commitment to identifying and scaling globally ambitious founders from Sweden, Norway, Denmark, and Finland. Over the next few years, it plans to invest in 25 to 30 startups, issuing initial tickets between €300,000 and €3 million, from pre-seed to Series A stages.
Alliance VC has long invested at the intersection of software, data, and deep tech. With this fund, it doubles down on the emerging AI-native economy. The firm has already backed companies applying machine learning and generative AI in sectors like digital health, climate tech, and enterprise productivity.
This aligns with a broader Nordic trend: according to Dealroom’s 2024 Nordics Innovation Report, the region’s tech ecosystem has grown 16x in the past decade and is now worth over $550 billion. While unicorns like Spotify, Klarna, and Unity have led the way, Alliance VC sees a new generation of startups poised to define the post-AI era.
Read the orginal article: https://arcticstartup.com/alliance-vc-announces-e40-million/
