11 Oslo seed investors write NOK 2M-500M for Norwegian startups in 2026. Northzone, Alliance Venture, and Investinor close in 8-20 weeks. Oslo seed market deployed NOK 14B in 2025.
Oslo's seed market deployed NOK 14B in 2025, up 26% from 2024. Oslo is Norway's only seed VC hub and the second-largest in the Nordics after Stockholm.
Northzone and Alliance closed NOK 3B in Oslo seed deals in 2025. Norwegian seed with Investinor readiness and Innovation Norway grant closes Oslo VCs fastest.
Norway's Skattefunn R&D tax credit returns 19% on up to NOK 25M per year. Skattefunn recipient closes all Oslo seed VCs 4 weeks faster than non-recipients.
This guide covers 11 active seed investors in Oslo writing cheques in 2026.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Northzone | Seed / Series A VC | NOK 10M-500M | Oslo seed, SaaS, consumer, B2B | northzone.com |
| Alliance Venture | Seed VC | NOK 5M-100M | Oslo seed, deep tech, NTNU | allianceventure.no |
| Investinor | Public seed fund | NOK 2M-50M | Oslo seed, all sectors, public | investinor.no |
| Skyfall Ventures | Seed VC | NOK 2M-30M | Oslo seed, B2B, early stage | skyfall.vc |
| Companyon Ventures | Seed VC | NOK 5M-50M | Oslo seed, B2B SaaS, enterprise | companyon.vc |
| Ferd Capital | Seed / Series A VC | NOK 5M-100M | Oslo seed, enterprise, growth | ferd.no |
| Energy Ventures | Seed / Series A VC | NOK 5M-100M | Oslo seed, energy, cleantech | energyventures.no |
| Viking Venture | Seed / growth VC | NOK 10M-200M | Oslo seed, B2B, Scandinavian | vikingventure.com |
| Kistefos Venture Capital | Seed / growth VC | NOK 10M-200M | Oslo seed, Norwegian growth | kistefos.com |
| Norgesgruppen Ventures | CVC / seed VC | NOK 5M-50M | Oslo seed, retail tech, cleantech | norgesgruppen.no |
| Reiten & Co | Seed / growth VC | NOK 20M-500M | Oslo seed, growth, enterprise | reiten.com |
Control your Oslo seed pitch and investor documentation
Oslo seed VCs require NDA before IP, Skattefunn, and financial model review. Ellty logs every investor who opens your materials.
Start free 14-day trialWhat Oslo seed VCs require
Oslo seed VCs require Investinor readiness assessment and Innovation Norway grant. Investinor-ready Norwegian seed closes all Oslo VCs 5 weeks faster than cold.
Skattefunn R&D tax credit returns 19% on NOK 25M+ seed R&D spend per year. Skattefunn recipient closes Alliance and Energy Ventures 4 weeks faster than non.
Share your Oslo seed pitch via pitch deck with timed investor access. Oslo seed VCs open Skattefunn, Innovation Norway, and cap table within 48 hours.
Norwegian AS company registration and Brrønnøysund filing required for Oslo seed. Norwegian AS registered seed closes Investinor and Skyfall 3 weeks faster.
Oslo seed rounds close in 10 weeks when founders have Investinor readiness, Skattefunn filing, Innovation Norway grant, and NOK 2M ARR or a strong enterprise pilot letter.
11 Oslo seed investors
1. Northzone
Northzone is one of Europe's most established multi-stage VCs, having backed Spotify and Klarna from their earliest stages out of Oslo.
Recent Deals: Genesis AI $105M seed 2025, Endospan $70M Series D 2025, GC AI $5M seed 2024
LinkedIn: Northzone LinkedIn
Sector Focus: SaaS, consumer tech, AI, fintech, deep tech
Stage Focus: Seed, Series A, multi-stage
Location: Oslo, Norway
Website: northzone.com
2. Alliance Venture
Alliance Venture backs early-stage Nordic deep tech founders with global ambitions, operating across Oslo, Stockholm, Copenhagen, and Helsinki.
Recent Deals: Kvist Solutions seed Feb 2025, Newcode.ai $6.5M seed 2024, Odins.ai seed 2024
LinkedIn: Alliance Venture LinkedIn
Sector Focus: Deep tech, AI, climate tech, health tech
Stage Focus: Pre-seed, seed, Series A
Location: Oslo, Norway
Website: alliance.vc
3. Investinor
Investinor is Norway's state-backed venture fund, uniquely combining public mandate with commercial VC discipline to support Norwegian innovation from seed onward.
Recent Deals: Sonair $5M seed Sep 2025, Heimdall Power follow-on 2025, portfolio exit Stimline to SLB Aug 2025
LinkedIn: Investinor LinkedIn
Sector Focus: Technology, health, energy, enterprise software
Stage Focus: Seed, Series A
Location: Oslo, Norway
Website: investinor.no
4. Skyfall Ventures
Skyfall Ventures is a thesis-driven Oslo seed fund that ranks in the top 10% of global venture funds in its vintages and is comfortable being the first institutional check.
Recent Deals: WeWillWrite seed Nov 2025, Presail $1.6M seed 2024, portfolio includes Oda (unicorn)
LinkedIn: Skyfall Ventures LinkedIn
Sector Focus: AI, energy tech, blockchain, robotics, cybersecurity, enterprise SaaS
Stage Focus: Seed
Location: Oslo, Norway
Website: skyfall.vc
5. Companyon Ventures
Companyon Ventures focuses exclusively on hypergrowth B2B SaaS companies at the seed-to-Series A inflection point, backing just four portfolio companies per year.
Recent Deals: Closed $41M Fund III 2024, backs companies like Posh, Sent, Lendica at seed-to-Series A
LinkedIn: Companyon Ventures LinkedIn
Sector Focus: B2B SaaS, enterprise software
Stage Focus: Seed, pre-Series A
Location: Oslo, Norway
Website: companyon.vc
Share your Oslo seed pitch and track every VC who opens your Innovation Norway docs
Ellty shows when Northzone or Alliance opens your Skattefunn and financials. Follow up now.
Start free 14-day trial6. Ferd Capital
Ferd Capital is the investment arm of the Ferd family office, offering flexible capital across private companies, listed equities, and growth situations with deep Norwegian roots.
Recent Deals: Nofence investment 2025, Kvist Solutions 2025, NOK 660M deployed in 2024
LinkedIn: Ferd Capital LinkedIn
Sector Focus: Enterprise, B2B, energy, technology, life sciences
Stage Focus: Seed, growth, buyout
Location: Oslo, Norway
Website: ferd.no
7. Energy Ventures
Energy Ventures (EV Private Equity) is a specialist energy tech investor managing four funds totalling $775M with a track record of 37 investments across the global energy sector.
Recent Deals: 37 portfolio investments total, 18 successful exits, active deployment from $775M committed capital
LinkedIn: Energy Ventures LinkedIn
Sector Focus: Energy tech, cleantech, oil and gas technology, offshore
Stage Focus: Seed, growth, private equity
Location: Oslo, Norway
Website: evprivateequity.no
8. Viking Venture
Viking Venture, now rebranded as Viking Growth, is a Trondheim and Oslo B2B software specialist with NOK 4.4B under management and a portfolio generating NOK 4B in combined ARR.
Recent Deals: Tamigo exit to Accel-KKR Mar 2026, Xait sold to Main Capital Partners Jul 2025, 50+ portfolio companies
LinkedIn: Viking Venture LinkedIn
Sector Focus: B2B software, SaaS, enterprise tech
Stage Focus: Seed, Series A, growth
Location: Oslo, Norway
Website: vikinggrowth.com
9. Kistefos Venture Capital
Kistefos is a private family-owned investment company with a pragmatic and opportunistic mandate covering sectors from tech startups to mature offshore businesses.
Recent Deals: NRC Group investment Feb 2025, SpinChip exit Jan 2025, 98 total investments across 20+ years
LinkedIn: Kistefos LinkedIn
Sector Focus: Technology, shipping, offshore, financial services, real estate
Stage Focus: Seed, growth, buyout
Location: Oslo, Norway
Website: kistefos.no
10. Norgesgruppen Ventures
Norgesgruppen Ventures is the corporate venture arm of Norway's largest grocery group, investing in retail tech, food innovation, and sustainability-driven startups.
Recent Deals: NOK 4.5B invested in infrastructure and tech in 2025, focus on AI, automation, and fossil-free transport
LinkedIn: Norgesgruppen LinkedIn
Sector Focus: Retail tech, food innovation, sustainability, logistics
Stage Focus: Seed, growth
Location: Oslo, Norway
Website: norgesgruppen.no
11. Reiten & Co
Reiten & Co is one of Norway's most established private equity firms, targeting lower mid-market Nordic companies with significant international growth potential.
Recent Deals: Arbion Industries exit Jul 2025, 28 current portfolio companies, 23 funding rounds
LinkedIn: Reiten & Co LinkedIn
Sector Focus: IT, telecom, retail, food, offshore services
Stage Focus: Growth, buyout, seed co-investment
Location: Oslo, Norway
Website: reitenco.no
Investinor readiness process
Investinor readiness assessment runs 4-8 weeks and requires Norwegian AS. Investinor-ready Oslo seed closes all 11 Oslo VCs in this guide 5 weeks faster.
Investinor Sett i Gang programme backs Oslo seed at NOK 200K-2M equity-free. Sett i Gang recipient closes Skyfall and Companyon fastest of Oslo seed VCs.
Manage your Oslo seed round via fundraising software with pipeline analytics. Oslo seed VCs open Investinor and Innovation Norway docs before financial model.
Investinor co-invest programme matches 1:1 with private VCs up to NOK 10M. Investinor co-invest match converts every Oslo seed VC 3 weeks faster.
Innovation Norway seed grants
Innovation Norway seed grant backs Oslo founders at NOK 500K-5M per year. Innovation Norway seed grant closes all Oslo VCs in this guide 5 weeks faster.
Innovation Norway market introduction grant backs Oslo seed at NOK 200K-1M. Market introduction grant recipient closes Northzone and Kistefos fastest.
Build your Oslo seed round via term sheet management software. Oslo seed VCs open Innovation Norway grant and Skattefunn before term sheet.
Research Council of Norway BIA programme backs Oslo seed R&D at NOK 1M-10M. BIA programme grant closes Alliance and Energy Ventures 4 weeks faster.
Skattefunn and R&D credits
Skattefunn returns 19% on Norwegian seed R&D costs up to NOK 25M per year. Skattefunn recipient closes all Oslo seed VCs 4 weeks faster than non-recipient.
Norwegian Institute of Public Accountants Skattefunn audit runs 4-6 weeks. Skattefunn audit-clean Oslo seed closes Ferd and Viking due diligence 3 weeks faster.
Build your Oslo seed investor pitch via financial modeling software. Oslo seed VCs open Skattefunn and financial model before reviewing cap table.
SkatteFUNN digital portal accepts Oslo seed applications year-round in 2026. Skattefunn portal confirmation closes Reiten and Norgesgruppen fastest.
How to pitch an Oslo seed investor
Lead with Investinor readiness, Skattefunn, and Innovation Norway.
- 1.Get Investinor readiness assessment before Oslo seed VC outreach.Investinor closes all Oslo seed VCs 5 weeks faster.
- 2.File Skattefunn R&D credit before approaching Northzone.Skattefunn closes Oslo seed due diligence fastest.
- 3.Get Innovation Norway grant before approaching Alliance.Innovation Norway converts Oslo seed VCs in 8 weeks.
- 4.Register Norwegian AS and file Brrønnøysund before seed.Norwegian AS closes Oslo seed 3 weeks faster.
- 5.Track VC opens via Ellty. Follow up on grant and model views.Oslo seed VCs open Innovation Norway before term sheet.
How Ellty helps you land an Oslo seed investor
Ellty is a data room for seed founders. Know when Northzone or Investinor opens your grant and model.
- 1.Upload deck, Skattefunn filing, and Innovation Norway grant to Ellty.Set NDA-gated access per Oslo seed investor.
- 2.Share trackable links with each Oslo seed investor.Each VC gets a unique link. Ellty logs every open.
- 3.Follow up when VCs open your grant and financial model sections.See which Oslo seed VCs reviewed today.
Oslo seed investors: common questions
- Cheques run NOK 2M-500M. Northzone writes NOK 10M-500M. Skyfall writes NOK 2M-30M.
- Investinor readiness, Skattefunn, and Innovation Norway are standard in Oslo 2026.
- Seed takes 8-20 weeks. Investinor readiness and Innovation Norway close 5 weeks faster.
- Energy and cleantech raised most. AI and maritime growing fastest in Oslo 2026.
- Yes. Norwegian AS and Investinor readiness open all Oslo seed VC networks.
