The retirement planning industry in the Nordics is robust and multifaceted. It comprises a mix of financial advisory firms, investment managers, and insurance companies, all focused on ensuring secure and sustainable retirements for individuals. These companies offer a range of services including pension plans, wealth management, and investment strategies tailored to client needs. Notably, the industry is evolving with a push for greener investments, innovation in digital asset management, and a greater emphasis on financial education. As populations age, the demand for comprehensive retirement solutions continues to grow, highlighting the importance of effective financial planning.


The investors featured in this list are primarily private equity and venture capital firms, predominantly located in Stockholm, Sweden. Founded from as early as 1767 to as recently as 2021, these firms show a strong inclination towards strategic investments in the financial services sector. With investment counts ranging from 0 to 30 in 2024, varying size classifications reflect different operational capacities and market approaches. This mix of experienced and newer players positions them to tackle the challenges and opportunities in the retirement planning space.


Top 12 Retirement Planning Investors in the Nordics


1. Söderberg & Partners


Söderberg & Partners is a prominent financial advisory firm based in Stockholm, Sweden, founded in 2004. The firm specializes in a variety of financial services, including pension advisory, insurance brokerage, and wealth management. They cater to both individual consumers and businesses, providing tailored solutions to enhance financial security and investment strategies. In recent transactions, Söderberg & Partners has made significant moves in the UK market, acquiring minority stakes in several financial advice firms, such as Generation Financial Services and others, which are crucial for expanding their retirement planning services. Their acquisition of Frisia Verzekeringen further demonstrates their commitment to broadening their financial advisory capabilities, making them a key player in the retirement planning industry.


2. 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, but has also made significant strides in the financial services sector. Notably, Nordic Capital has acquired Max Matthiessen, a financial advisory firm, and Ascot Lloyd, an independent financial advice firm, both of which play critical roles in retirement planning by offering financial advice and services. Their acquisition of Nordnet, a financial services company, further highlights their commitment to enhancing financial advisory capabilities. In 2024, Nordic Capital, alongside other investors, completed the acquisition of Hargreaves Lansdown, a significant player in the business services sector, which also contributes to retirement planning through investment services. Overall, Nordic Capital's focus on sustainable investment opportunities and long-term value creation positions them as a relevant player in the retirement planning industry.


3. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a strong emphasis on enhancing operational efficiency and sustainable growth through tailored investment strategies and digital transformation solutions. Notably, Altor has made significant investments in the financial services sector, including a recent acquisition of an 8.0% minority stake in Mandatum plc, which is directly involved in pension savings and financial services. This transaction highlights Altor's commitment to the retirement planning industry. Additionally, their involvement with Carnegie Investment Bank further demonstrates their engagement in the financial sector, which is closely related to retirement planning.


4. 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 based in Stockholm, Sweden, founded in 1994. The firm specializes in private equity, infrastructure, real estate, growth equity, and venture capital, catering primarily to institutional investors. EQT Group has a diverse portfolio, with notable transactions that include the acquisition of BPEA EQT for $7.5 billion, which enhances their capabilities in managing large-scale investments. They also acquired In.Corp Global and Colisée, indicating a strategic focus on sectors that can yield long-term growth. Their investment in ManyPets, a leading pet insurance provider, as part of a $350 million Series D round, showcases their interest in the insurance sector, which is particularly relevant for retirement planning as it aligns with the need for financial security in later life. Overall, EQT Group's diverse investment strategy and focus on growth sectors make them a suitable candidate for retirement planning investments.


5. Vef

  • Website: vef.vc
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2015
  • Headcount: 1-10
  • LinkedIn: vef-vc

Vef is an investment company based in Stockholm, Sweden, specializing in fintech investments in emerging markets. Founded in 2015, Vef focuses on providing capital and strategic support to growth-stage fintech companies in regions such as Brazil, Mexico, India, and Pakistan. Their mission is to create long-term sustainable value for shareholders while promoting financial inclusion and responsible business practices. Notably, Vef has invested in companies like Magnetis, a Brazilian automated wealth management solution, which raised $11 million in a Series B funding round to enhance its brokerage services and functionalities. Additionally, Vef supported Mahaana Wealth, a digital wealth management startup in Pakistan, which secured $2.1 million in a pre-seed round to meet regulatory requirements and develop its product offerings. These investments highlight Vef's commitment to supporting innovative financial solutions that can play a significant role in retirement planning and wealth management.


6. Kinnevik

  • Website: kinnevik.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1936
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: investment-ab-kinnevik

Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. It partners with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech, providing capital and operational support to help these companies scale and create long-term value. Notably, Kinnevik has made significant investments in Betterment, a digital investment startup that focuses on retail investment products and advisor solutions, particularly in the 401(k) space. In 2016, Kinnevik led a $100 million Series E funding round for Betterment, which aimed to enhance its offerings for institutional investors and help companies manage their employees' 401(k) investments. Additionally, Kinnevik participated in a $70 million Series E funding round in 2017 and a $160 million growth capital round in 2021, further solidifying its commitment to supporting Betterment's growth in the retirement planning sector. These transactions highlight Kinnevik's strategic interest in companies that provide essential financial services, including retirement planning solutions.


7. Storebrand

  • Website: storebrand.no
  • Type: Corporate
  • Headquarters: Lysaker, Akershus, Norway
  • Founded year: 1767
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: storebrand

Storebrand is a financial services company based in Lysaker, Akershus, Norway, founded in 1767. It offers a comprehensive range of products, including pension plans, insurance, banking services, and investment solutions, catering to both individual consumers and businesses. Storebrand has made significant strides in the retirement planning sector, as evidenced by its acquisition of Danica Pension Norway, which aims to strengthen its position in the occupational pensions market. Additionally, the acquisition of Kron AS, a fintech company, is expected to enhance Storebrand's retail savings offerings and digital capabilities, further supporting their retirement planning services. With a focus on securing financial futures, Storebrand is well-positioned as a key player in the retirement planning industry.


8. EQT Ventures

  • Website: eqtventures.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: eqt-ventures

EQT Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2015. The firm specializes in investing in early-stage tech startups, providing not only financial support but also operational assistance to entrepreneurs. EQT Ventures connects startups with a global network of industry experts and resources to foster growth and innovation. Among their notable transactions, they led a €5 million Seed round for Kota, a company transforming the employee benefits industry with a platform that simplifies the process for companies of all sizes. This investment is particularly relevant to retirement planning as it modernizes the benefits landscape, which often includes retirement options. Additionally, EQT Ventures has participated in various funding rounds for companies like Peakon, which focuses on people analytics, further emphasizing their commitment to enhancing workplace environments and employee satisfaction, both of which are critical components of effective retirement planning.


9. Creandum

  • Website: creandum.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. The firm specializes in supporting early-stage entrepreneurs in building global, category-defining companies. They provide venture capital investment, strategic support, and networking opportunities to startups across various sectors, including fintech and health tech. Notably, Creandum has participated in significant funding rounds for fintech companies like Trade Republic, which has raised substantial capital to enhance its investment platform, and Taxfix, which focuses on simplifying tax processes. These investments highlight Creandum's commitment to nurturing companies that can impact financial management and planning, making them a relevant player in the retirement planning landscape.


10. IDC Ventures

  • Website: idcventures.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: idcvc

IDC Ventures is a venture capital firm based in Copenhagen, Denmark, founded in 2019. The firm specializes in fintech and marketplace investments, partnering with family offices and professional investors to provide diversified investment opportunities. IDC Ventures is known for its active portfolio management and advisory services, leveraging an extensive network to drive growth in innovative companies. Notable transactions include their participation in Hastee, a fintech startup that raised €243 million to develop a financial wellbeing solution, which allows workers immediate access to their earned pay. They also invested in Taxfyle, which raised $20 million to support its growth in the U.S. market, and SuperSim, a Brazilian credit fintech that raised over $5 million to expand its personal credit services. These investments indicate a focus on enhancing financial services, which can be relevant to retirement planning, although not exclusively so.


11. BlackWood


BlackWood Ventures ApS is a venture capital firm based in Copenhagen, Denmark, founded in 2021. The firm specializes in investing in technology startups, particularly in the fintech, web 3.0, and cleantech sectors. BlackWood offers co-investment opportunities and strategic support for growth, catering primarily to investors looking to diversify their portfolios with high-potential startups. Notably, BlackWood has participated in several relevant transactions, including a seed investment in Sidekick, a wealth and savings app for millennials, which raised £4.5 million in June 2024. This investment highlights BlackWood's engagement in the financial technology space, particularly in solutions that can aid in wealth management and retirement planning. Other investments include IVM Markets and illuminem, which, while not directly related to retirement planning, further demonstrate BlackWood's active role in the fintech sector.


12. Maj Invest

  • Website: majinvest.com
  • Type: Private Equity
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 5
  • LinkedIn: maj-invest

Maj Invest is an investment management firm based in Copenhagen, Denmark, founded in 2005. The firm specializes in asset management and private equity, providing tailored investment solutions to institutional investors. Maj Invest focuses on sectors such as technology, life sciences, and energy transition, with a strong commitment to sustainability and responsible investing. In recent years, they have been involved in several transactions that highlight their interest in financial services, which could be relevant for retirement planning. For instance, they participated in the Series C funding for Sub-k, a fintech startup that offers digital payment solutions, and invested in Arohan Financial, which provides financial services that could support low-income individuals. Additionally, their investment in Save Solutions, which raised funds in 2024, indicates a focus on innovative financial solutions. These transactions suggest that Maj Invest is actively engaged in sectors that could contribute to the development of financial products relevant for retirement planning.



Retirement Planning Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Söderberg & PartnersStockholm, Stockholm, Sweden1001-500020044
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
VefStockholm, Stockholm, Sweden1-1020150
KinnevikStockholm, Stockholm, Sweden11-50193610
StorebrandLysaker, Akershus, Norway1001-500017672
EQT VenturesStockholm, Stockholm, Sweden11-50201528
CreandumStockholm, Stockholm, Sweden11-50200317
IDC VenturesCopenhagen, Denmark11-5020192
BlackWoodCopenhagen, Denmark11-5020216
Maj InvestCopenhagen, Denmark51-20020055


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