The music publishing industry in the Nordics is vibrant and dynamic, highlighting a rich tapestry of creativity and innovation. Companies range from traditional publishers and record labels to tech startups specializing in music tech, licensing solutions, and distribution platforms. This sector is fueled by emerging trends such as increased streaming services, a focus on user-generated content, and the growth of music analytics. As digital consumption continues to rise, the industry's trajectory points toward greater integration of technology and music, offering artists novel ways to reach audiences and manage their work.

The investors featured in this article include a mix of corporate entities, venture capital firms, and private equity players, primarily headquartered in Stockholm. With sizes varying from small firms to large banking institutions, their emergence dates back to as early as 1856. In 2024, these investors collaborated on deals totaling 74, highlighting their interest in the flourishing music publishing sector—a reflection of the Nordics' growing importance in the global music industry.

Top 13 Music Publishing 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. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. In the music publishing context, Almi has made notable investments in companies such as Auddly, a Stockholm-based song project management platform that raised SEK 20m in venture capital funding, and Starmony, a music tech company that allows users to create and release music globally. These transactions highlight Almi's commitment to supporting innovation in the music industry, making it a relevant player in the music publishing investment landscape.

2. Spotify

• Website: spotify.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2006
• Headcount: 5001-10000
• Number of deals in 2024: 1
• LinkedIn: spotify

Spotify is a music and podcast streaming service founded in 2006, headquartered in Stockholm, Sweden. It offers users access to a vast library of audio content, allowing them to stream music and podcasts on various devices, create and share playlists, and enjoy both free and premium subscription options. As an investor, Spotify has made strategic moves in the music publishing space, including a passive minority investment in DistroKid, which enhances services for artists uploading music directly to the platform. This investment aims to facilitate seamless distribution of music to other platforms like Apple Music and YouTube. Additionally, Spotify has acquired companies such as Soundtrap, a platform for music creation, and Sonalytic, a music recognition technology firm, further solidifying its role in the music publishing industry by supporting artists and improving content management.

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 private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in various investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the music and entertainment industry, including a substantial financing round for Epidemic Sound, which raised SEK 4.6 billion at a valuation of SEK 11.9 billion. This company is known for its innovative approach to music licensing, making it a key player in the music publishing space. Additionally, EQT's strategic investment in United Talent Agency (UTA) positions them as a major stakeholder in a leading talent agency that represents numerous artists and musicians, further solidifying their involvement in the music industry.

4. 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 made significant investments in the music industry, including a $5 million Series A funding round for Epidemic Sound in 2014, aimed at expanding their library of music tracks and operations in multiple countries. Additionally, Creandum participated in Spotify's funding rounds, including a $21.6 million Series A round in 2008 and a secondary market investment in 2014. These transactions highlight Creandum's commitment to nurturing companies that are pivotal in the music publishing landscape, showcasing their expertise and connections in this sector.

5. Bonnier Ventures

• Website: bonnierventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2013
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: bonnier-ventures

Bonnier Ventures is a Stockholm-based venture capital firm founded in 2013, operating as the investment division of the Bonnier Group. The firm focuses on providing capital and management support to promising companies in structurally growing industries such as healthcare, media, sustainability, fintech, and SaaS. Notably, Bonnier Ventures has made significant investments in the music tech sector, including a $3.5 million funding round for Starmony, a Swedish company that allows users to create and release music globally through a mobile app. This investment highlights Bonnier Ventures' commitment to fostering innovation in the music industry. Additionally, they have invested in We Are Voice, further indicating their interest in music-related ventures. Their extensive network and expertise in media and technology position them well to support growth in the music publishing landscape.

6. 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 participated in the Series B funding round for Soundrop, a social music discovery platform, which raised $3.4 million in 2013. This investment highlights Investinor's engagement in the music industry. Additionally, they were involved in the seed funding round for Nomono, which raised approximately $3.5 million in 2022, further showcasing their interest in innovative technology and platforms that may intersect with music and audio content.

7. Seb

• Website: sebgroup.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1856
• Headcount: 10001+
• Number of deals in 2024: 13
• LinkedIn: seb

Seb (Skandinaviska Enskilda Banken AB) is a prominent banking group based in Stockholm, Sweden, founded in 1856. The bank provides a comprehensive range of financial services, including corporate and investment banking, asset management, and private wealth management. In 2019, Seb participated in a venture round for Epidemic Sound, a notable player in the music publishing industry, raising $20 million. This investment highlights Seb's engagement in the music sector, particularly in music licensing and publishing. While Seb has also been involved in other sectors, such as providing debt financing for WHSmith, their investment in Epidemic Sound underscores their interest in the music publishing space.

8. Kichi Invest

• Website: kichiinvest.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2016
• Headcount: 1-10
• LinkedIn: kichi-invest

Kichi Invest is a corporate investment firm based in Stockholm, Sweden, founded in 2016. The firm specializes in supporting Nordic unlisted companies in their growth journey by providing capital and strategic expertise. Kichi Invest partners with passionate entrepreneurs to help navigate the challenges of scaling their businesses. Among their notable transactions, Kichi Invest participated in a venture round for Epidemic Sound, raising $1,000,000 on April 27, 2017. Epidemic Sound is a prominent player in the music publishing industry, known for its innovative approach to music licensing. This investment highlights Kichi Invest's engagement with the music sector. Additionally, they were involved in a convertible note transaction with DanAds, raising $4,568,766 on July 10, 2020, although this company operates outside the music publishing context. Overall, Kichi Invest's portfolio includes various innovative companies, and their involvement with Epidemic Sound positions them as a potential player in the music publishing investment landscape.

9. Spintop Ventures

• Website: spintopventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2009
• Headcount: 1-10
• Number of deals in 2024: 4
• LinkedIn: spintop-ventures

Spintop Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2009. The firm specializes in early-stage technology investments, providing capital and strategic advisory services to entrepreneurs aiming to build innovative software-based companies. Spintop Ventures emphasizes sustainable investments and growth in the technology sector. Notably, they have invested in Pacemaker, a Swedish DJ app that has raised multiple rounds of funding, totaling over $2.5 million since 2015. This involvement in a music-related technology company highlights their potential interest in the music publishing industry, particularly in how technology can enhance music consumption and creation.

10. Brightly Ventures

• Website: brightlyventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2018
• Headcount: 1-10
• LinkedIn: brightly-ventures

Brightly Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2018. The firm specializes in early-stage technology investments in the Nordic region, providing capital and advisory services to help entrepreneurs transform innovative ideas into successful businesses. One of their notable transactions includes a $3.5M investment in Starmony, a Swedish music tech company that allows users to create and release music globally using a smartphone. This investment highlights Brightly Ventures' engagement in the music industry, particularly in technology that enhances music publishing and distribution.

11. Luminar Ventures

• Website: luminarventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn: luminar-ventures

Luminar Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2017. They specialize in pre-seed and seed-stage investments, providing funding and strategic guidance to innovative startups across various industries, particularly in technology. Notably, Luminar Ventures has invested in Starmony, a Swedish music tech company that raised funds in 2020 and 2021 to develop an app allowing users to create and release music globally. This involvement in the music tech space highlights their interest in supporting companies that intersect with the music publishing industry, making them a relevant player in this sector.

12. Butterfly Ventures

• Website: butterfly.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2012
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: butterfly-ventures

Butterfly Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2012. The firm specializes in seed stage investments, particularly in deep tech startups, and emphasizes social and environmental impact. Butterfly Ventures provides capital and strategic support to early-stage companies, helping them navigate growth and market entry challenges. Notably, they co-led a $2 million Pre-Series A funding round for Reactional Music, a Stockholm-based company that focuses on music licensing operations. This investment highlights their engagement in the music industry, showcasing their willingness to support innovative companies that contribute to the music publishing landscape.

13. Brunnur Ventures

• Website: brunnurventures.com
• Type: Venture Capital
• Headquarters: Reykjavík, Reykjavíkurborg, Iceland
• Founded year: 2014
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: brunnur

Brunnur Ventures is a venture capital firm based in Reykjavík, Iceland, founded in 2014. The firm specializes in investing in early-stage startups and growth companies, providing not only capital but also mentorship and access to valuable networks to help entrepreneurs navigate their business challenges. Their investment portfolio spans various industries, including biotech and fintech, but they have also made notable investments in the music sector. One significant transaction includes a $1.5 million Series A funding round for ATMO Select, a company that focuses on providing customized in-store music solutions for retailers. This investment highlights Brunnur Ventures' interest in innovative solutions within the music industry, particularly in enhancing customer experiences through tailored music programming.

Music Publishing Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
Spotify	Stockholm, Stockholm, Sweden	5001-10000	2006	1
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Creandum	Stockholm, Stockholm, Sweden	11-50	2003	17
Bonnier Ventures	Stockholm, Stockholm, Sweden	1-10	2013	1
Investinor	Trondheim, Trøndelag, Norway	11-50	2008	4
Seb	Stockholm, Stockholm, Sweden	10001+	1856	13
Kichi Invest	Stockholm, Stockholm, Sweden	1-10	2016	0
Spintop Ventures	Stockholm, Stockholm, Sweden	1-10	2009	4
Brightly Ventures	Stockholm, Stockholm, Sweden	1-10	2018	0
Luminar Ventures	Stockholm, Stockholm, Sweden	1-10	2017	7
Butterfly Ventures	Helsinki, Uusimaa, Finland	1-10	2012	5
Brunnur Ventures	Reykjavík, Reykjavíkurborg, Iceland	1-10	2014	2

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