Top 14 Cardiovascular Device Investors in the Nordics
Top 14 Cardiovascular Device Investors in the Nordics
The cardiovascular device industry in the Nordics is characterized by a robust network of companies developing innovative technologies aimed at treating heart diseases. This region hosts a mix of startups and established firms specializing in high-tech diagnostic tools, implantable devices, and advanced treatment solutions. Investments focus on creating devices that improve patient outcomes while reducing healthcare costs. The market is expected to grow as the aging population increases the demand for effective cardiovascular treatments. Nordic innovators are at the forefront of medical advancements, creating significant opportunities in telemedicine and remote monitoring solutions to enhance cardiac care.
The investment scene in the Nordics is defined by a blend of venture capital and private equity firms, each boasting unique strengths. The roster includes notable players such as Seed Capital Denmark and EQT Group, headquartered across Denmark and Sweden. Many investors range from small firms to large corporations, with headquarters often tied to innovative hubs. The investor community initiated a total of 109 deals in 2024, reflecting a strong commitment to the healthcare sector. With varying sizes and founding years, these investors contribute actively to the evolution of the cardiovascular device industry.
Top 14 Cardiovascular Device 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 invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has been involved in several significant transactions in the cardiovascular device space, including investments in iRhythm Technologies, which raised $17 million to develop cardiac monitoring technology, and Preventice Solutions, which raised $137 million for remote cardiac monitoring solutions. Additionally, they have invested in CorWave, a medical technology company, indicating their commitment to advancing innovations in cardiovascular health.
2. HealthCap
- Website: healthcap.eu
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1996
- Headcount: 11-50
- Number of deals in 2024: 5
- LinkedIn: healthcap
HealthCap is a venture capital firm based in Stockholm, Sweden, founded in 1996. The firm specializes in the life sciences sector, focusing on innovative companies that are developing breakthrough therapies for diseases with high unmet medical needs. HealthCap has a diverse portfolio, including investments in companies like InCarda Therapeutics, which raised $30 million in Series C funding for the development of InRhythm, a treatment for paroxysmal atrial fibrillation. Additionally, they participated in an earlier Series B round for the same company, demonstrating a sustained interest in cardiovascular innovations. Other investments include Pulmonx, which, while primarily focused on pulmonary treatments, showcases HealthCap's broader commitment to medical devices and therapies. Overall, HealthCap's involvement in these relevant transactions highlights their active role in the cardiovascular device industry.
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 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 providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the healthcare sector, including the acquisition of Atos Medical, a company focused on medical devices, and Lima Corporate, which manufactures orthopedic devices. These transactions highlight EQT's commitment to the healthcare industry, suggesting a strategic interest that could extend to cardiovascular devices as part of their broader investment strategy.
4. Seed Capital Denmark
- Website: seedcapital.dk
- Type: Venture Capital
- Headquarters: Frederiksberg, Frederiksberg, Denmark
- Founded year: 2004
- Headcount: 1-10
- Number of deals in 2024: 5
- LinkedIn: seed-capital-denmark
Seed Capital Denmark is a venture capital firm based in Frederiksberg, Denmark, founded in 2004. The firm specializes in providing seed funding and advisory services to technology startups, with a focus on sectors such as SaaS and Fintech. However, they have also invested in companies within the cardiovascular device industry, notably Acarix, which raised funds in both 2010 and 2013 for developing diagnostic solutions for cardiovascular diseases. Additionally, they have been involved in other healthcare-related investments, such as Nordic Neurostim, which indicates a broader interest in health technology. With a strong track record of supporting portfolio companies from seed stage to exit, Seed Capital Denmark demonstrates a commitment to fostering innovation in various sectors, including cardiovascular devices.
5. 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 invested in CardioMech, which raised $18.5 million in a Series A financing round to fund its first-in-human feasibility trial for a catheter-based mitral valve repair technology. Additionally, they have invested in Cimon Medical, a startup focused on ultrasound technology, which may have applications in cardiovascular diagnostics. These transactions highlight Investinor's active role in the cardiovascular device industry, making them a relevant player in this sector.
6. 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 its significant transactions, Nordic Capital acquired Atos Medical, a medical device company focused on ear, nose, and throat rehabilitation, and Corpuls, a German medical technology company specializing in emergency medical solutions. These investments reflect Nordic Capital's commitment to the healthcare sector, which includes potential applications in cardiovascular devices, thereby enhancing its relevance in this investment category.
7. 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 AnaCardio, which raised SEK 150 million in a Series A financing round aimed at funding a clinical trial for a treatment related to heart failure. This investment highlights Industrifonden's commitment to the cardiovascular device sector. Additionally, they have participated in various funding rounds for other health-related companies, showcasing their broader interest in life sciences and medical innovations.
8. Innovestor
- Website: innovestorgroup.com
- Type: Venture Capital
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2014
- Headcount: 11-50
- Number of deals in 2024: 12
- LinkedIn: innovestor
Innovestor is an investment management company based in Helsinki, Uusimaa, Finland, specializing in venture capital, real estate, and energy storage. Founded in 2014, Innovestor focuses on providing funding and support to early-stage startups and corporations, particularly in technology and life sciences. They offer services such as investment advice, corporate venturing, and participation in accelerator programs. Notably, Innovestor has been involved in significant transactions within the cardiovascular device sector, including leading a €10.7M Series B financing round for HVR Cardio, a Finnish cardiovascular device company. This investment reflects their active role in supporting innovations in the cardiovascular space. Additionally, they have participated in funding rounds for other medical device companies, indicating a broader interest in the life sciences sector.
9. AddLife AB
- Website: add.life
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2016
- Headcount: 1001-5000
- Number of deals in 2024: 3
- LinkedIn: addlife-ab
AddLife AB is a Swedish corporate investor based in Stockholm, founded in 2016. The company operates in the Life Science sector, focusing on high-quality medical technology products, assistive equipment, and laboratory solutions primarily for healthcare providers, hospitals, and research institutions across Europe. AddLife employs a decentralized business model, allowing its subsidiaries to maintain flexibility while benefiting from the company's resources. Notable transactions include the acquisition of Mediplast AB in 2015, which may have implications for cardiovascular devices, and the recent acquisition of Emmat Medical in 2024, a distributor of surgical instruments. While AddLife's transactions do not explicitly highlight a focus on cardiovascular devices, their involvement in the Medtech sector indicates potential relevance in this area.
10. Chalmers Ventures
- Website: chalmersventures.com
- Type: Venture Capital
- Headquarters: Sweden
- Founded year: 2015
- Headcount: 11-50
- Number of deals in 2024: 26
- LinkedIn: chalmers-ventures
Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs that provide business guidance, financing, and community networking. Chalmers Ventures emphasizes active ownership and investment in startups, helping them scale and succeed in the market. Notably, they have invested in Beat Vascular Health, which is directly involved in the cardiovascular device sector, and have made multiple investments in Monivent, a company that develops medical devices with implications for cardiovascular health. Their transactions include a Pre-Seed round for Beat Vascular Health in December 2021 and several Seed and Post-IPO Debt rounds for Monivent, showcasing their ongoing commitment to the cardiovascular device industry.
11. Novo Nordisk
- Website: novonordisk.com
- Type: Corporate
- Headquarters: Denmark
- Founded year: 1923
- Headcount: 10001+
- Number of deals in 2024: 4
- LinkedIn: novo-nordisk
Novo Nordisk A/S is a leading multinational pharmaceutical company based in Denmark, founded in 1923. The company specializes in diabetes care and treatments for other chronic diseases, developing a range of medications including semaglutide and various insulin products. In recent years, Novo Nordisk has expanded its investment activities, particularly in the cardiovascular space. Notably, they have agreed to acquire Cardior Pharmaceuticals for up to 1.025 billion Euros, which focuses on cardiovascular therapies. Additionally, they have initiated exclusive negotiations to acquire Biocorp, a French diabetes device maker, further indicating their interest in the intersection of diabetes and cardiovascular health. These strategic acquisitions highlight Novo Nordisk's commitment to enhancing patient care through innovative treatments and devices, positioning them as a relevant player in the cardiovascular device industry.
12. Hadean Ventures
- Website: hadeanventures.com
- Type: Venture Capital
- Headquarters: Oslo, Oslo, Norway
- Founded year: 2014
- Headcount: 11-50
- Number of deals in 2024: 1
- LinkedIn: hadean-ventures
Hadean Ventures is a venture capital firm based in Oslo, Norway, founded in 2014, specializing in the life sciences sector. The firm manages approximately EUR 230 million in assets and focuses on supporting healthcare startups that aim to address unmet medical needs. Among their notable investments, Hadean Ventures led the Series A financing round for CardioMech, which raised US$18.5 million to fund its first-in-human feasibility trial for a catheter-based mitral valve repair technology. This investment highlights their commitment to advancing cardiovascular device innovations. Additionally, they participated in the Series B financing of Cardior Pharmaceuticals, which raised $76 million to develop an oligonucleotide-based therapy targeting micro-RNA-132, potentially impacting cardiovascular health. These transactions demonstrate Hadean Ventures' active role in the cardiovascular device industry, alongside their broader focus on life sciences.
13. Covidien Finland Oy
- Website: covidien.com
- Type: Corporate
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2007
- Headcount: 51-200
- LinkedIn: covidien-finland-oy
Covidien Finland Oy, a corporate investor based in Helsinki, Uusimaa, Finland, is a subsidiary of Medtronic, a leading healthcare technology provider founded in 2007. The company specializes in innovative medical devices and therapies, serving healthcare professionals, hospitals, and patients. Covidien has been involved in several significant transactions, particularly in the cardiovascular device space. Notably, they acquired Reverse Medical Corporation, a company focused on vascular disease management, which aligns with their strategy to enhance their portfolio in cardiovascular solutions. Additionally, their acquisition of Given Imaging and BARRX Medical, while primarily focused on gastrointestinal solutions, showcases their broader commitment to advancing medical technologies. Overall, Covidien Finland Oy is positioned as a key player in the healthcare technology sector, with a notable interest in cardiovascular devices.
14. Flerie
- Website: flerie.com
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2011
- Headcount: 1-10
- Number of deals in 2024: 2
- LinkedIn: flerie
Flerie is a venture capital investment firm based in Stockholm, Sweden, founded in 2011. The firm specializes in life sciences, with a strong focus on biotech and pharmaceutical investments. Flerie supports its portfolio of over 30 companies by providing resources and expertise to navigate drug development challenges. They operate primarily in Europe, Israel, and the US, aiming to create long-term value through strategic investments. Notably, Flerie has invested in AnaCardio, which raised SEK 150 million in a Series A financing round to fund a clinical trial for a treatment targeting heart failure. This highlights their active involvement in the cardiovascular sector. Additionally, Flerie has participated in funding rounds for other health-related companies, indicating a broader commitment to life sciences that includes cardiovascular health.
Cardiovascular Device Insights: Key Investors in the Nordics
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Novo Holdings | Hellerup, Denmark | 51-200 | 1999 | 45 |
| HealthCap | Stockholm, Stockholm, Sweden | 11-50 | 1996 | 5 |
| EQT Group | Stockholm, Stockholm, Sweden | 1001-5000 | 1994 | 30 |
| Seed Capital Denmark | Frederiksberg, Frederiksberg, Denmark | 1-10 | 2004 | 5 |
| Investinor | Trondheim, Trøndelag, Norway | 11-50 | 2008 | 4 |
| Nordic Capital | Stockholm, Stockholm, Sweden | 201-500 | 1989 | 10 |
| Industrifonden | Stockholm, Stockholm, Sweden | 11-50 | 1979 | 9 |
| Innovestor | Helsinki, Uusimaa, Finland | 11-50 | 2014 | 12 |
| AddLife AB | Stockholm, Stockholm, Sweden | 1001-5000 | 2016 | 3 |
| Chalmers Ventures | Sweden | 11-50 | 2015 | 26 |
| Novo Nordisk | Denmark | 10001+ | 1923 | 4 |
| Hadean Ventures | Oslo, Oslo, Norway | 11-50 | 2014 | 1 |
| Covidien Finland Oy | Helsinki, Uusimaa, Finland | 51-200 | 2007 | 0 |
| Flerie | Stockholm, Stockholm, Sweden | 1-10 | 2011 | 2 |
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