Alliance VC Announces €40M First Close To Back Next-gen Nordic Tech Leaders

The fund will continue backing the next generation of global tech companies founded in the Nordics. Key backers include Saminvest, KLP, Investinor, Smedvig, and Telenor.

“Alliance Nordic III doubles down on where we believe the Nordics have the strongest global potential,” said Johan Gjesdahl, Managing Partner at Alliance VC. “We’re targeting companies that combine AI technology with real – world impact.”

With Alliance Nordic III, the firm now has partners based in Stockholm, Oslo, and Copenhagen—making it the only VC with team members in all four major Nordic capitals, including Helsinki.

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Each of its six general partners brings over 15 years of local startup experience. Alliance VC follows a partner-first approach, ensuring every founder connects directly with decision-makers from day one.

Alliance VC began backing AI-driven startups well before the current wave of hype. As AI continues to reshape industries, the firm remains deeply committed to supporting innovation in this space.

With the launch of Alliance Nordic III, it stays true to its roots—leading seed-stage investments in Nordic startups with global ambitions.

Their mission is clear: empower visionary teams to scale and shape the next era of technology.

“The quality and volume of startups across the Nordics has never been stronger and we have a proven track record of investing in breakout companies like 1X, Sanity, and Superside early, and we are excited that the new fund enables us to back even more of them,” says Gjesdahl.

According to Dealroom’s 2024 ‘Nordics Innovation Report’, the Nordic tech ecosystem is now valued at €468 billion — a 16x increase over the past decade. Riding this strong momentum, Alliance VC is well-positioned to keep backing high-performing startups and building a portfolio of global success stories.

“At Saminvest, we are committed to strengthening the venture ecosystem by supporting long-term, value-driven investors like Alliance VC, ” said Magnus Skåninger, CEO of Saminvest. “Investing once again in Alliance VC reflects the kind of forward-looking strategy and regional expertise we believe is critical to help tech companies scale globally”.

About Alliance VC

Founded in 2001, Alliance VC is an early-stage venture capital firm backing tech startups across the Nordic region. Its team of experienced VCs, operators, and founders has helped build billion-euro companies.