The data storage device industry in the Nordics is rapidly evolving, with a strong emphasis on innovation and sustainability. Companies in this sector provide a range of solutions, from cloud storage to data security. Key players include startups focused on enhancing data management and established firms investing in cutting-edge infrastructure. The industry is also witnessing a growing shift towards energy-efficient storage technologies in response to both regulatory pressures and market demands. As data generation increases, the need for reliable, scalable storage solutions will keep propelling Nordic enterprises forward and attracting global attention to their capabilities.


The investor landscape in the Nordics showcases a blend of corporate giants and agile venture capital firms, all vying for promising opportunities in the tech sector. Located in key cities like Stockholm, Stavanger, and Helsinki, these investors range from large corporations like Equinor to nimble ventures like Almi. Most were established in the '80s and '90s, reflecting a mature investment scene with deep ties to innovation. In 2024, these investors collectively executed 113 deals, underscoring their commitment to accelerating growth in tech-driven markets, particularly in data storage solutions.


Top 13 Data Storage Device Investors in the Nordics


1. 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 their notable transactions, Almi has invested in CloudMe, a cloud storage service that raised multiple rounds of funding, including a Seed Round in 2017 and Pre-Seed Rounds in 2014 and 2015. Additionally, Almi participated in the funding round for STORViX, a startup that raised SEK 7 million, indicating their engagement in the data storage sector. These investments highlight Almi's role in supporting innovative companies within the data storage device industry.


2. 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 strides in the data storage device industry through its recent transactions. In August 2024, EQT announced its acquisition of Acronis, a leader in data protection and cybersecurity, which is expected to enhance their portfolio in the data storage domain. Furthermore, EQT Infrastructure's acquisition of EdgeConneX in November 2020, a company focused on data center solutions, underscores their commitment to investing in the data storage ecosystem. These strategic investments highlight EQT's active role in the data storage device industry, alongside their broader investment activities.


3. Industrifonden

  • Website: industrifonden.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1979
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: industrifonden

Industrifonden is a venture capital fund based in Stockholm, Sweden, founded in 1979. The fund specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. Industrifonden provides financial support and strategic guidance to startups, helping them scale their innovative solutions. Notably, they have invested in ZeroPoint Technologies, which focuses on innovative data solutions, and ShardSecure, a company that offers data security and storage solutions. These investments highlight Industrifonden's engagement in the data storage device context, as they support companies that are developing technologies relevant to data management and security.


4. Inventure

  • Website: inventure.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2005
  • Headcount: 11-50
  • Number of deals in 2024: 9
  • LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been involved in several notable transactions, particularly in the data storage and cloud computing sectors. For instance, they led a pre-seed funding round for UltiHash, a startup that aims to enhance companies' data usage through high-performance data storage software. Additionally, Inventure has invested in UpCloud, a cloud server provider that has raised significant funding to expand its services, highlighting their commitment to the data storage industry. Overall, Inventure's portfolio reflects a strong interest in technology that supports data storage and management.


5. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, primarily operating in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, the company has a workforce of over 10,000 employees and is committed to sustainability, aiming to achieve net-zero emissions by 2050. Equinor serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. In recent years, Equinor has made strategic investments that reflect its commitment to innovation and sustainability. Notably, in December 2021, Equinor acquired a 45% stake in Noriker Power, a UK battery storage developer, which highlights its interest in energy storage solutions. This investment is particularly relevant as energy storage is increasingly important for data centers and cloud computing, linking Equinor's activities to the data storage device industry. Additionally, Equinor has participated in various funding rounds for technology companies, such as Numascale, which focuses on interconnect technology for supercomputing, further indicating its engagement in sectors that intersect with data storage technologies.


6. Chalmers Ventures


Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They specialize in supporting deep tech innovations by assisting researchers and entrepreneurs in commercializing their technologies. Chalmers Ventures provides business guidance, financing, and community networking to help startups scale and succeed in the market. Notably, they have been involved in multiple funding rounds for ZeroPoint Technologies, a company that has raised significant capital in recent years, including $2.67 million in a Series A round in September 2024 and $5.41 million in another Series A round in May 2024. Their involvement in ZeroPoint Technologies, which is likely engaged in advanced technology that could intersect with data storage solutions, highlights their active role in the tech investment landscape.


7. 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 founded in 2015, based in Stockholm, Sweden, specializing in early-stage tech startups. They provide financial support and operational assistance to entrepreneurs, helping them navigate the challenges of building successful businesses. With a focus on technology, EQT Ventures connects startups with a global network of industry experts and resources to foster growth and innovation. Notably, they have participated in significant funding rounds, such as SeeQC, which raised $30 million in Series A funding to advance quantum computing systems. This investment aligns with the evolving landscape of data processing and storage technologies, indicating EQT Ventures' potential relevance to the data storage device sector.


8. 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, specializing in growth equity investments in technology-enabled companies. Founded in 1985, Verdane focuses on providing capital and hands-on support to help businesses scale, particularly in the realms of digitalization and decarbonization. Their investment portfolio includes a variety of technology companies, with a notable emphasis on enhancing market position and operational efficiency. Recent transactions include investments in Hornetsecurity, a company involved in cybersecurity, which is closely related to data storage and management, and asgoodasnew, a leader in re-commerce for high-tech consumer electronics. These investments reflect Verdane's commitment to supporting technology-driven growth, which may encompass data storage solutions.


9. 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 collaborates with entrepreneurs and other investors, managing state interests in seed and venture funds. Notably, Investinor has been involved in several transactions that highlight its interest in technology sectors relevant to data storage. For instance, they participated in funding rounds for Numascale, a developer of interconnect technology aimed at the supercomputing market, which is closely related to data processing and storage solutions. Additionally, they have invested in Northern.tech, which, while not directly a data storage company, operates in the tech space that could intersect with data management and storage solutions. These transactions indicate Investinor's engagement with companies that may influence or contribute to advancements in data storage technology.


10. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient entrepreneurs across various sectors. Notably, Lifeline Ventures has been involved in significant transactions in the data storage context, particularly with Aiven, a company that raised a total of $49 million across three funding rounds (Seed, Series A, and Series B) from 2017 to 2020. Aiven focuses on managed cloud services for data infrastructure, which includes data storage solutions. This involvement highlights Lifeline Ventures' interest in the data storage device industry, alongside their broader investment strategy.


11. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies, providing both capital and guidance to entrepreneurs throughout their business journey. Heartcore operates globally and emphasizes building long-term relationships with founders. Notably, Heartcore has been involved in several relevant transactions, including multiple seed rounds for CrateDB, a company focused on database technology, raising significant amounts in 2014, 2015, and 2016. Additionally, they participated in a recent seed round for FlexAI, a startup launching an on-demand cloud service for AI training, which may also intersect with data storage needs. These transactions highlight Heartcore's active engagement in the technology sector, particularly in areas related to data storage and management.


12. CapMan

  • Website: capman.com
  • Type: Private Equity
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1989
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: capman

CapMan Oyj is an investment management firm based in Helsinki, Finland, specializing in private equity, real estate, infrastructure, and natural capital investments. Founded in 1989, CapMan serves institutional investors by providing access to diverse investment strategies aimed at achieving sustainable returns. Recently, CapMan has made significant strides in the data storage device sector, notably through its acquisition of fuZion A/S, a Danish colocation firm that operates multiple data centers and is expanding its operations. This acquisition highlights CapMan's commitment to investing in infrastructure that supports data storage solutions. Additionally, their investment in Serverius, which raised funds in May 2023, further emphasizes their engagement in the data storage industry. With a strong presence in the Nordic markets, CapMan leverages its expertise to manage funds and drive value creation for its clients, including those in the data storage sector.


13. HMS Networks

  • Website: hms-networks.com
  • Type: Corporate
  • Headquarters: Halmstad, Halland, Sweden
  • Founded year: 1988
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: hmsnetworks

HMS Networks AB, founded in 1988 and based in Halmstad, Sweden, is a corporate investor specializing in Industrial Information and Communication Technology. The company provides a range of products and services, including industrial communication solutions, remote access technologies, and wireless infrastructure products. Their customer base spans various industries, emphasizing the need for reliable connectivity for industrial devices and systems to enhance operational efficiency. Notable transactions include the acquisition of Beck IPC GmbH, which specializes in embedded communications and IIoT solutions, and the acquisition of Owasys Advanced Wireless Devices, which allows HMS to enter the mobile machines and utility vehicles sector, enhancing its position in remote access and data solutions. Additionally, the acquisition of Red Lion Controls further strengthens their capabilities in data management and connectivity solutions. These transactions highlight HMS Networks' commitment to expanding its portfolio in areas that intersect with data storage and management, particularly in industrial applications.



Data Storage Device Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
IndustrifondenStockholm, Stockholm, Sweden11-5019799
InventureHelsinki, Uusimaa, Finland11-5020059
EquinorStavanger, Rogaland, Norway10001+19726
Chalmers VenturesSweden11-50201526
EQT VenturesStockholm, Stockholm, Sweden11-50201528
VerdaneOslo, Oslo, Norway51-20019857
InvestinorTrondheim, Trøndelag, Norway11-5020084
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
Heartcore CapitalCopenhagen, Denmark11-50200717
CapManHelsinki, Uusimaa, Finland51-20019894
HMS NetworksHalmstad, Halland, Sweden1001-500019881


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