Turbine Capital Closes €54M Fund to Back Nordic DeepTech Startups

The fund has also welcomed a new industrial investor, Mycronic, which joins its growing group of investors.

Other industrial investors include Saab, Scania, Volvo Cars and Stena. The fund also has support from industrial family offices and private investors.

Institutional investors in the fund include Saminvest and the European Investment Fund (EIF). Their support will help Turbine Capital invest in promising early-stage DeepTech companies across the Nordics.

“Closing our first fund at more than SEK 600 million, with an investor base ranging from leading Nordic industry to European institutions, confirms that our model meets a real need. During our first year, we have shown that multi-corporate venture capital works in practice, not just in theory,” says Anders Ösund, Founding & General Partner, Turbine Capital.

”Mycronic brings cutting-edge expertise in semiconductors and advanced manufacturing that strengthens our entire industrial network. Together with Saab, Scania, Volvo Cars and Stena, we have a base of industrial partners spanning defence, transport, electrification and now also semiconductor technology – exactly the kind of cross-sector platform Europe’s DeepTech companies need to scale,” adds Pär Hedberg, founder of Sting, who also is initiator and co-founder of Turbine Capital.

Since its first close in April 2025, Turbine Capital has developed a Nordic investment model that brings together startups, universities and industrial companies. It works closely with seven university-linked incubators: ABI, Uminova, UIC, Sting, LEAD, GU Ventures and IDEON.

The fund combines support from these incubators with investment from a wide range of industrial companies. This approach helps connect new ideas with businesses that can support their growth.

Through this model, investors gain access to early-stage innovations, while startups receive funding, industry knowledge and opportunities to connect with potential customers.

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