The environmental biotechnology industry in the Nordics focuses on using biological processes to solve environmental challenges. Companies in this sector include startups and established firms developing solutions for waste management, renewable energy, and sustainable materials. With a growing emphasis on sustainability and climate resilience, the industry is seeing rapid innovation, particularly in areas like carbon capture and biodegradable products. The Nordics are aiming to position themselves as global leaders in green technology, supported by robust governmental policies and increasing awareness about environmental issues. This surge in demand is compelling firms to enhance their technologies and explore new markets.

The Nordic investment scene for environmental biotechnology is vibrant, with a mix of venture capital, corporate, and private equity firms engaging in this dynamic sector. The list features 14 notable investors, primarily based in cities such as Stockholm, Oslo, Copenhagen, and Helsinki, ranging in size from small teams to large organizations. Founded between 1972 and 2018, they collectively made 176 investments in 2024, reflecting a strong commitment to sustainable solutions. The investor types offer a variety of insights and support tailored to early-stage and high-growth companies in the environmental biotechnology field.

Top 14 Environmental Biotechnology 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 primarily invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. In recent years, Novo Holdings has expanded its portfolio to include significant investments in environmental biotechnology. They participated in LanzaTech's Series E funding, which raised $72 million to develop sustainable carbon capture technologies. They also invested in Genomatica's Series C round, which raised $118 million for biobased chemical production. Furthermore, Novo Holdings has been involved with Biomason, a company focused on sustainable building materials, and Biosyntia, which is pioneering biobased vitamin production. These transactions illustrate Novo Holdings' commitment to supporting innovative companies that contribute to environmental sustainability through biotechnology.

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, that provides loans, risk capital, and business development support to small and medium-sized enterprises. Founded in 1994, Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Notably, Almi Invest has been involved in several transactions within the environmental biotechnology sector, including investments in Swedish Algae Factory, which focuses on sustainable algae production, and C-Green, which is engaged in innovative waste management solutions. These investments highlight Almi's commitment to supporting environmentally sustainable technologies and practices.

3. Katapult

• Website: katapult.vc
• Type: Venture Capital
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Katapult has been involved in several transactions relevant to environmental biotechnology, including Carbonwave, which raised $5M to build sustainable cosmetics emulsifier production facilities, and Ecospears, which is focused on environmental remediation. They also participated in the funding of UMAMI Bioworks, a startup developing cultivated seafood, showcasing their commitment to sustainable food technologies. Their portfolio reflects a strong emphasis on climate-tech and ocean-tech, making them a significant player in the environmental biotechnology space.

4. Business Finland

• Website: businessfinland.fi
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2018
• Headcount: 501-1000
• Number of deals in 2024: 26
• LinkedIn: business-finland

Business Finland is a public entity based in Helsinki, Uusimaa, Finland, established in 2018 to support Finnish companies in their growth and internationalization efforts. It offers a range of services, including funding, consulting, and market opportunities, to help businesses innovate and succeed in global markets. In the context of environmental biotechnology, Business Finland has been involved in several relevant transactions, such as providing grants to Onego Bio, which raised $10 million in April 2024 and $4.5 million in September 2022, both aimed at advancing sustainable biotechnological solutions. Additionally, Ductor received over $1.5 million in grants in 2015 for its innovative waste conversion technologies. These investments highlight Business Finland's commitment to fostering advancements in environmental biotechnology.

5. 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, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT Infrastructure's acquisition of Covanta, a leading waste-to-energy firm, highlights their focus on sustainable energy solutions. Additionally, their investment in Synagro Technologies, which manages organic residuals, and the acquisition of Desotec, a company known for its innovative filtration technologies, further exemplify EQT's commitment to environmental sustainability. These strategic investments reflect EQT's dedication to supporting companies that contribute to a more sustainable future, particularly in the environmental biotechnology space.

6. 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 actively support researchers and entrepreneurs in commercializing their technologies 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 been involved in multiple funding rounds for Swedish Algae Factory, which is engaged in sustainable algae production, raising significant amounts of capital over the years, including $3.27 million in 2025, $2.64 million in 2022, and earlier rounds in 2021 and 2018. This involvement highlights their commitment to supporting environmental biotechnology initiatives.

7. 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, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, the company has over 10,000 employees and is committed to sustainability, aiming to achieve net-zero emissions by 2050. In recent years, Equinor has made significant investments in environmental biotechnology-related ventures, including a Series B investment in Carbon Clean Solutions, which focuses on carbon capture technology. In 2024, they participated in the seed round for Inherit Carbon Solutions, further demonstrating their commitment to innovative carbon management solutions. Additionally, Equinor was involved in a Series A funding round for RepAir, an Israeli startup dedicated to reducing the energy intensity of direct air capture technologies. These transactions highlight Equinor's strategic focus on supporting technologies that contribute to environmental sustainability and carbon reduction.

8. 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 companies like EnginZyme, which raised €21M in a Series B round, focusing on sustainable biotechnological processes. They also participated in funding rounds for Agteria Biotech and Retein, both of which are involved in biotechnology, with Retein specifically aiming to increase production volume in a biotech context. Their investments reflect a commitment to creating long-term value through partnerships with passionate founders, particularly in sectors that include environmental biotechnology.

9. Voima Ventures

• Website: voimaventures.com
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2019
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn: voima-ventures

Voima Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in funding early-stage science-based innovations and deep tech ventures, providing both capital and expertise to help startups scale their solutions for global challenges. Voima Ventures operates primarily in the Nordic and Baltic regions and has a diverse portfolio that includes investments in life sciences and advanced manufacturing. Among their notable transactions, they have invested in Origin by Ocean, which focuses on sustainable ocean solutions, and EniferBio, a startup that aims to create sustainable food technologies. Additionally, their investment in Cellfion, which develops sustainable membranes for energy storage, highlights their commitment to environmental biotechnology. Voima Ventures also supported Betolar, a company working on sustainable construction materials, further emphasizing their focus on environmentally friendly innovations.

10. Kompas Vc

• Website: kompas.vc
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2021
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: kompasvc

KOMPAS is a venture capital firm based in Copenhagen, Denmark, founded in 2021. The firm focuses on funding innovative technologies in the building and manufacturing industries, with a strong emphasis on sustainability. KOMPAS supports entrepreneurs who aim to decarbonize and digitally transform these sectors, investing in sustainable materials and climate technology. Notable transactions include their investment in Epoch Biodesign, which raised $18.3 million in Series A funding, and Found Energy, a cleantech startup that raised $12 million in Seed funding. These investments highlight KOMPAS's commitment to fostering startups that contribute to environmental sustainability and innovation in biotechnology.

11. Almi Invest

• Website: almiinvest.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2009
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn: almi-invest

Almi Invest is a venture capital firm based in Stockholm, Sweden, founded in 2009. It specializes in providing loans and risk capital to small and medium-sized enterprises (SMEs) in Sweden, with a focus on fostering business development and sustainability. Almi Invest has a dedicated GreenTech division that targets investments in environmentally sustainable technologies. Among its notable transactions, Almi Invest participated in a €21M Series B funding round for EnginZyme, a company that develops sustainable bioprocessing solutions. Additionally, it invested in the Swedish Algae Factory, which secured 53 MSEK in funding for its algae-based sustainable aquaculture initiatives. Other relevant investments include Ecohelix and NitroCapt, which are also aligned with environmental biotechnology goals. Through these investments, Almi Invest demonstrates its commitment to supporting innovative solutions that contribute to environmental sustainability.

12. Afry

• Website: afry.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1895
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: afry

AFRY AB is a consulting and engineering firm based in Stockholm, Sweden, founded in 1895. The company provides a wide range of services, including sustainability consulting, digital solutions, and project management across various industries. In recent years, AFRY has made several strategic acquisitions to enhance its capabilities in sustainability and technology. Notably, they acquired Numerola Oy, a leader in digital solutions for wind power, and Vahanen, which further strengthens their consulting services. Additionally, their acquisition of Cubiq Analytics Oy enhances their data and analytics offerings, which can be crucial for environmental monitoring and management. These transactions reflect AFRY's commitment to supporting sustainable practices and technologies, making them a relevant player in the environmental biotechnology sector.

13. 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. Among its notable transactions, Investinor has invested in Sorbwater Technology, which focuses on innovative water treatment solutions, and Curida, which is involved in biotechnological applications. Additionally, they have supported Hemispherian, which may also have relevance in the environmental sector. While some investments, such as Zilift Limited, are in the oil and gas industry, the overall portfolio suggests a commitment to supporting companies that could contribute to environmental sustainability and biotechnology advancements.

14. KTH Holding AB

• Website: kthholding.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1-10
• LinkedIn: kth-holding

KTH Holding AB is a corporate investor based in Stockholm, Sweden, founded in 1994. It supports the commercialization of research and innovation from the KTH (Royal Institute of Technology) by providing investment in early-stage companies, advisory services, and access to a network of investors. The primary customers are researchers and students looking to develop their ideas into viable businesses. KTH Holding has been involved in several transactions relevant to environmental biotechnology, including a seed investment in Cellfion, which focuses on developing sustainable membranes for energy storage and conversion devices. Additionally, they participated in the funding of Novatron, a fusion energy company, indicating their interest in sustainable energy solutions. These transactions highlight KTH Holding's commitment to supporting innovative technologies that have environmental benefits.

Environmental Biotechnology Insights: Key Investors in the Nordics

Want to find more investors focusing on the environmental biotechnology industry?

With Inven, you'll also get to know:

• Deal History: Number of deals and their sizes.
• Portfolio: Companies they've invested in.
• Contact data: Key dealmakers, including their emails and phonenumbers.
• ...and much more!