The pet medication manufacturers industry in the Nordics is a vibrant and evolving sector focused on improving animal health. Companies in this space produce a wide array of pharmaceutical products, nutritional supplements, and diagnostic tools for pets, emphasizing the well-being of dogs, cats, and other animals. Innovations in biotechnology and pharmaceuticals are driving growth, with a particular interest in treatments for prevalent conditions such as allergies and chronic diseases. As pet ownership rises and consumers become more attentive to pet health needs, the market is expected to continue expanding, fostering further collaboration and investment within the industry.


This list presents a mix of investors within the Nordic region, primarily venture capital, private equity, and corporate entities. They are strategically located in Sweden, Denmark, and Norway, supporting a range of enterprises from startups to established firms. The investors vary in size, with some managing substantial portfolios of over 5000 employees, while others are focused on smaller companies with agile, specialized teams. In 2024, these investors collectively participated in 127 deals, showcasing significant interest in the pet medication sector, which is flourishing amid increasing demand for animal health products.


Top 12 Pet Medication Manufacturers Investors in the Nordics


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and focuses on investing in life science companies at various stages of development. Novo Holdings provides capital and strategic support to enhance healthcare solutions. Notably, they have invested in Invetx, which raised US$60.5 million to advance its monoclonal antibody pipeline for treating diseases in dogs and cats. Additionally, they have supported Bactolife, which is working on projects that may have implications for animal health. Their investment portfolio reflects a commitment to innovative healthcare solutions, including those relevant to the pet medication sector.


2. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Among its notable transactions, Almi has invested in PreVet, which raised $1,762,180 in a venture round in March 2021, indicating its engagement in the pet medication sector. Additionally, Almi has participated in funding rounds for other startups, such as Amferia, which focuses on wound care technology, showcasing its broader interest in health-related innovations.


3. 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 private equity firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the veterinary care sector, including a substantial investment in IVC Evidensia, Europe's largest veterinary care provider, and the acquisition of Independent Vetcare, the third largest veterinary services provider in the UK. Additionally, EQT's acquisition of Evidensia Djursjukvård, the Nordic market leader in veterinary services, further emphasizes their focus on the veterinary industry. Their investment in ManyPets, a leading pet insurance provider, also reflects their engagement in the pet care market, which encompasses medication and health services for pets.


4. Swedencare

  • Website: swedencare.com
  • Type: Corporate
  • Headquarters: Malmo, Skåne, Sweden
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: swedencare

Swedencare is a corporate investor based in Malmo, Skåne, Sweden, founded in 2000. The company specializes in pet health products, offering a range of dietary supplements aimed at improving the health of dogs, cats, and horses. Their product offerings address various health issues, including dental care and anxiety. Swedencare operates an online store for direct consumer sales. The company has been active in the pet medication manufacturers sector, with notable acquisitions including Vetio for $181 million in 2021, Ecuphar Ltd in 2016, and NaturVet for $447.5 million in 2022. These transactions highlight Swedencare's strategy to enhance its product portfolio and expand its operations within the animal healthcare market, making it a significant player in the pet medication industry.


5. 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, with a notable focus on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, aiming to create long-term value and sustainability. Among their significant transactions, Nordic Capital acquired AniCura in June 2014, a leading provider of veterinary care in Europe, which highlights their commitment to the pet healthcare sector. Additionally, they participated in a funding round for United Veterinary Care in January 2021, further solidifying their involvement in the veterinary industry. These transactions reflect Nordic Capital's strategic interest in the pet medication and healthcare market, making them a relevant player in this field.


6. Vimian Group

  • Website: vimian.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2021
  • Headcount: 1001-5000
  • LinkedIn: vimian-group

Vimian Group is a corporate investor based in Stockholm, Sweden, founded in 2021. The company is dedicated to improving animal health through innovative diagnostics, treatments, and veterinary services. Vimian operates globally and focuses on various segments, including Specialty Pharma and MedTech. Notably, Vimian has made significant acquisitions in the pet medication sector, including Bova Holdings Limited, a UK-based specialty pharmaceuticals company for companion animals, and Laboratoire de Dermo-Cosmétique Animale, a French pet dermatology specialist known for its Dermoscent® brand. These transactions highlight Vimian's commitment to expanding its portfolio in the pet medication market. Additionally, their acquisitions of New Generation Devices and IMEX, both involved in veterinary orthopedic implants, further demonstrate their focus on enhancing veterinary care and services. Overall, Vimian Group is positioned as a key player in the animal health industry, particularly in the pet medication sector.


7. Kale United

  • Website: kaleunited.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: kaleunited

Kale United is a corporate investment firm based in Stockholm, Sweden, founded in 2018. The firm specializes in sustainable food production through impact investments in plant-based and foodtech companies. It caters to both individual and institutional investors who are interested in supporting the transition to a plant-based lifestyle while achieving financial returns. Notably, Kale United has participated in significant transactions within the pet food sector, including investments in OMNI, a plant-based dog food startup, and THE PACK, which focuses on plant-based pet food. These investments highlight their commitment to innovative solutions in pet nutrition, which is closely related to pet health and wellness, making them a relevant investor in the pet medication manufacturers category.


8. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments in startups across various sectors, providing financial backing and advisory services to entrepreneurs. Lifeline Ventures aims to support resilient founders from the inception of their ventures. Notably, they have invested in OneMind Dogs, which raised around €400,000, indicating their involvement in the pet industry. Although their other investments, such as CurifyLabs and TILT Biotherapeutics, are in the health and biotherapeutics sectors, the firm's diverse portfolio suggests a willingness to engage with innovative companies, including those in pet health and medication.


9. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies, including private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. In recent years, Polaris has made significant acquisitions in the pet medication sector, including Salfarm and FaunaPharma in November 2024, which are both involved in the pet medication industry. These strategic investments highlight Polaris's commitment to expanding its portfolio in this growing market, alongside their historical investments in other sectors such as HAMLET PROTEIN and Novadan.


10. Nextmune


Nextmune is a corporate investor based in Stockholm, Sweden, founded in 2015. The company is dedicated to improving the health of dogs, cats, and horses through a range of veterinary pharmaceutical products, particularly in allergy management, dermatology, and specialized nutrition. Nextmune serves veterinarians and pet owners across more than 70 countries, providing high-quality solutions for various pet health issues. In 2024, Nextmune acquired Vetbiotek to enhance its dermatology product portfolio. Additionally, in 2021, it acquired Laboratoire de Dermo-Cosmétique Animale, known for its Dermoscent® brand, further solidifying its position in the pet dermatology market. These strategic acquisitions reflect Nextmune's focus on expanding its influence and offerings within the pet medication sector.


11. 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, particularly in technology-enabled companies, and provides capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notably, Verdane has been involved in several transactions relevant to the pet industry, including a $12 million investment in Pet Media Group, which operates within the pet sector. Additionally, they acquired a stake in Evondos, a company that specializes in automated medicine dispensing, which could have applications in the pet medication market. Their acquisition of Apoteka further demonstrates their interest in the pharmaceutical space, which may intersect with pet medication. Overall, Verdane's investment activities suggest a growing interest in the pet sector, particularly in areas that could enhance the delivery and management of pet medications.


12. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial products. In 2024, Indutrade has been particularly active, completing 14 investments. Notably, they acquired ATLINE ApS, a Danish company specializing in in-line sampling and quality assurance for the pet food and feed industries, for approximately SEK 60 million. This acquisition highlights Indutrade's strategic interest in the pet sector, complementing their broader industrial focus. Other recent acquisitions, such as Oscar Medtec, further showcase their commitment to enhancing their portfolio with companies that provide innovative solutions, although these are not directly related to pet medications.



Pet Medication Manufacturers Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
SwedencareMalmo, Skåne, Sweden11-5020001
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Vimian GroupStockholm, Stockholm, Sweden1001-500020210
Kale UnitedStockholm, Stockholm, Sweden1-1020182
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
Polaris Private EquityCopenhagen, Denmark51-20019984
NextmuneStockholm, Stockholm, Sweden51-20020151
VerdaneOslo, Oslo, Norway51-20019857
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814


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