The optical goods retail industry in the Nordics comprises companies that specialize in eyewear, lenses, and related optical products. From established chains to innovative startups, these firms offer a range of services including vision testing, prescription lenses, and stylish frames. As consumers increasingly prioritize eye health and fashion, the industry is witnessing growth in online sales and personalized services. Additionally, technological advancements like smart eyewear and augmented reality are shaping the future of optical retail, presenting new opportunities for engagement and product development in the market.

This article highlights eleven prominent investors active in the Nordic optical goods retail sector. These investors, ranging from large private equity firms like EQT Group to venture capitalists like Blazar Capital, vary in size and focus. Founded between 1876 and 2016, these firms have collectively made a notable impact in 2024 with their range of investments across the region. Notably, many of these investors have strategically targeted companies that enhance the optical landscape and consumer experience.

Top 11 Optical Goods Retail Investors in the Nordics

1. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a prominent investment firm founded in 1994, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Based in Stockholm, Sweden, EQT serves institutional investors by managing diverse investment portfolios across various sectors and geographies. Notably, EQT has made significant strides in the optical goods retail industry, highlighted by their acquisitions of Sola International, a leading eyeglass lens maker, and Carl Zeiss Vision, a well-known optics company, both in 2005. These transactions underscore EQT's commitment to the optical sector. Additionally, their acquisition of Zemax Software Holdings LLC in 2018, which provides optical design software, further illustrates their strategic focus on the optical goods market, reinforcing their relevance in this industry.

2. Verdane

• Website: verdane.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1985
• Headcount: 51-200
• Number of deals in 2024: 7
• LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments, primarily targeting technology-enabled companies. Verdane provides capital and hands-on support to help businesses scale, with a focus on digitalization and decarbonization trends. Among their notable transactions, Verdane acquired LensOn in 2006, a company that specializes in the retail of optical goods, indicating their involvement in this sector. Additionally, they have made investments in various other companies, such as Patroner.se AB and Outnorth, showcasing their diverse portfolio while maintaining a significant presence in the optical goods retail market through LensOn.

3. Nalka

• Website: nalka.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: nalka

Nalka is a private equity investment firm based in Stockholm, Sweden, founded in 2015. The firm specializes in developing independent companies in the Nordic and DACH regions, providing investment management and strategic support to small- and medium-sized businesses. Nalka emphasizes sustainable growth and responsible ownership in its investment approach. Notably, Nalka acquired Synsam Nordic, a leading optical goods retailer, on January 1, 2007, which highlights their active role in the optical goods retail sector. Additionally, they have made other acquisitions, such as HOOKS HASTSPORT and Barnas Hus, but their investment in Synsam Nordic is particularly relevant to the optical goods industry.

4. Nordic Capital

• Website: nordiccapital.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1989
• Headcount: 201-500
• Number of deals in 2024: 10
• LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, and focuses on creating long-term value and sustainability in its portfolio companies. Notably, Nordic Capital acquired SpaMedica, an ophthalmology chain, for £300 million in March 2020, highlighting their involvement in the optical goods sector. This acquisition reflects their strategy of partnering with management teams to drive growth and operational improvements. In addition to SpaMedica, Nordic Capital has made several other acquisitions across different industries, such as the Tokmanni Group, a discount store chain, and Lagkagehuset, a premium bakery chain, showcasing their diverse investment portfolio.

5. Walerud Ventures

• Website: walerud.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2002
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: walerud-ventures

Walerud Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2002. The firm specializes in investing in Nordic deep tech startups that emphasize sustainability and innovation. They provide both funding and strategic guidance to their portfolio companies, focusing on areas such as green technology, advanced materials, and IoT solutions. Notably, Walerud Ventures has invested in Lensway, a company in the optical goods retail sector, during its seed round in 2002. Additionally, they have been involved with Volumental, a company that has raised funds in various rounds, although Volumental's primary focus is not explicitly on optical goods. This diverse investment approach showcases Walerud Ventures' commitment to supporting innovative companies across different industries, including optical goods.

6. Ericsson

• Website: ericsson.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1876
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: ericsson

Ericsson is a telecommunications company based in Stockholm, Sweden, founded in 1876. With over 10,000 employees, it specializes in advanced connectivity solutions, including 5G networks and IoT platforms. In addition to its core telecommunications business, Ericsson has made strategic investments in various technology sectors. Notably, in November 2023, Ericsson Ventures participated in funding for Nubis Communications, a photonics innovator, which raised over $50 million to advance its optical engine technologies. This investment highlights Ericsson's engagement in the optical technology space, complementing its telecommunications focus and enhancing its portfolio in related fields.

7. Armada

• Website: armadacredit.com
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2010
• Headcount: 1-10
• LinkedIn: armada-mezzanine-capital

Armada Credit Partners is a private equity investment firm based in Helsinki, Uusimaa, Finland, founded in 2010. The firm specializes in providing tailored private debt solutions for sustainable and fast-growing mid-market companies in Northern Europe. Armada partners with private equity investors and management teams to offer flexible financing options that enable companies to achieve their growth objectives. With a commitment to responsible investing, Armada supports businesses across various sectors. Notably, in 2014, Armada was involved in a private equity round for Silmäasema, a prominent player in the optical goods retail sector, which highlights their engagement in this industry. This transaction underscores Armada's capability and interest in supporting companies within the optical goods market, alongside their broader investment strategy.

8. Intera Partners

• Website: interapartners.fi
• Type: Private Equity
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: intera-partners

Intera Partners is a private equity firm based in Helsinki, Uusimaa, Finland, founded in 2007. The firm specializes in investment management and advisory services, focusing on growing and internationalizing Finnish and Swedish companies. They typically invest in businesses with revenues between €10-200 million, emphasizing responsible investing and building strong partnerships with business owners. Notably, Intera Partners acquired Silmäasema, a prominent player in the optical goods retail sector, on June 30, 2014. They also facilitated a private equity round for Silmäasema earlier that year, further solidifying their involvement in the optical goods market. This strategic focus on Silmäasema highlights their capability and interest in the optical goods retail industry.

9. Blazar Capital

• Website: blazarcapital.com
• Type: Venture Capital
• Headquarters: Denmark
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: blazarcapital

Blazar Capital is a venture capital firm based in Denmark, founded in 2016. They specialize in brand incubation, focusing on consumer goods and e-commerce. Their investment strategy emphasizes ideating, creating, and scaling innovative brands, with a strong emphasis on direct-to-consumer sales and influencer marketing. Notably, Blazar Capital has invested in MessyWeekend, a company that raised $1,070,000 in a seed round in February 2021 and $270,000 in a pre-seed round in February 2019. MessyWeekend is known for its stylish eyewear products, which positions Blazar Capital within the optical goods retail sector, further supporting their relevance in this industry.

10. Investinor

• Website: investinor.no
• Type: Venture Capital
• Headquarters: Trondheim, Trøndelag, Norway
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. It specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor manages state interests in seed and venture funds and collaborates with entrepreneurs and other investors. Notably, Investinor has been involved in several transactions relevant to the optical goods sector, particularly with poLight AS, which specializes in autofocus lenses for mobile phone cameras. Investinor participated in multiple funding rounds for poLight, including a NOK160 million equity funding round in 2016 and a USD 18.5 million Series B funding round in 2011, highlighting its commitment to supporting innovation in optical technology.

11. Alliance VC

• Website: alliance.vc
• Type: Venture Capital
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2001
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: alliance-venture

Alliance Venture Capital is a venture capital firm based in Oslo, Norway, founded in 2001. The firm specializes in investing in early-stage technology companies founded by Nordic entrepreneurs with global ambitions. Alliance VC provides financial support and strategic guidance to help startups scale their operations and navigate funding challenges. Notably, they have invested in poLight, a company that has developed innovative optical polymer lenses, raising significant funds in multiple rounds, including $18.5 million in Series B funding in 2011 and $19 million in 2015. These transactions highlight their engagement in the optical goods sector, showcasing their capability and interest in fostering innovation within this niche.

Optical Goods Retail Insights: Key Investors in the Nordics

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