The e-waste recycling industry in the Nordics focuses on safely recovering valuable materials from discarded electronics. Companies in this sector range from specialized recyclers to tech developers creating innovative solutions for e-waste processing. They aim to reduce the environmental impact of electronic waste while supporting the circular economy. In recent years, the region has seen a surge in governmental and corporate initiatives to enhance recycling rates, promoting sustainability. This focus aligns with global trends emphasizing renewable resources and responsible waste management, laying the groundwork for growth and innovation in the years ahead.


The investors featured in this list come from various backgrounds, including venture capital and private equity, with headquarters spread across Norway, Sweden, and Finland. Ranging from small teams to large firms, their sizes vary significantly, and they have collectively participated in over 100 investment deals in 2024. Established from 1985 to 2017, these investors focus on supporting impactful companies operating in the critical area of e-waste recycling. Their contributions highlight a commitment to sustainability and the potential for robust growth in this industry.


Top 15 E-Waste Recycling 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, aiming to enhance their growth and competitiveness. Almi has been actively involved in the e-waste recycling sector through its investments in companies like Recycla, which raised $660k to expand its recycling operations, and Bintel, a waste management startup that has secured multiple rounds of funding from Almi to strengthen its market presence. These transactions highlight Almi's role in supporting innovative solutions in the recycling industry, particularly in the context of e-waste management.


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 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 managing diverse portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the waste management and recycling industry, including the acquisition of AMCS Group, a company focused on waste recycling solutions. They also acquired Covanta, a waste-to-energy firm, and invested in Cirba Solutions, which is enhancing battery management and materials, relevant to e-waste recycling. These transactions reflect EQT's growing interest in sustainability and innovative solutions within the waste management sector.


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 specialize in supporting tech startups that tackle global challenges through investment, accelerator programs, and mentorship. Katapult has been actively involved in various sectors, including climate-tech and ocean-tech. Notably, they invested in RecyGlo, a waste management and recycling platform in Myanmar, providing seed funding to enhance recycling services in the region. This investment highlights their commitment to sustainability and e-waste recycling. Furthermore, they have also invested in companies like Jiva Materials and Solar Materials, which, while not exclusively focused on e-waste, contribute to sustainable material management and recycling efforts.


4. 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, founded in 1985. The firm specializes in growth equity investments in technology-enabled companies, providing capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notably, Verdane has been involved in several transactions relevant to the e-waste recycling sector, including their investment in Bower, a recycling app that raised €4.1 million to support its operations. They also invested in asgoodasnew, a leader in re-commerce for high-tech consumer electronics, which promotes the reuse and recycling of electronic devices. Furthermore, their investment in Swappie, an online platform for buying and selling refurbished smartphones, underscores their commitment to sustainable practices in the technology sector. These investments highlight Verdane's active role in supporting initiatives that align with e-waste recycling and sustainability.


5. 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, along with offering business development support and strategic guidance. Almi Invest has been involved in several transactions that align with sustainability and recycling, particularly through its GreenTech fund. Notable investments include Bower, a recycling app that raised €4.1 million, highlighting Almi's commitment to supporting innovative recycling solutions. Additionally, Almi Invest has invested in GreenIron, a company focused on sustainable technologies, and has participated in funding rounds for Bintel and Graphmatech, which may also have implications for sustainability and recycling. These transactions reflect Almi Invest's broader interest in promoting environmentally friendly technologies and practices.


6. 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 entrepreneurs across various sectors. Lifeline Ventures focuses on supporting resilient founders from the inception of their ventures. Notably, they have been involved in multiple funding rounds for Enevo, a waste logistics solutions provider. Enevo raised a total of $12 million in a Series C funding round led by Lifeline Ventures in September 2017, following earlier investments in the company during its Series A, B, and seed rounds. This consistent support highlights Lifeline Ventures' engagement in the waste management sector, particularly in solutions that could encompass e-waste recycling.


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, Equinor has a workforce of over 10,000 employees and is committed to achieving net-zero emissions by 2050. The company serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Notably, Equinor Ventures, the corporate venture capital arm of Equinor, has made significant investments in companies related to sustainability and recycling technologies. For instance, in March 2023, Equinor participated in a $20.5 million funding round for Green Li-ion, a Singapore-based provider of lithium-ion battery recycling technology. This investment highlights Equinor's strategic interest in supporting innovations that promote recycling and sustainability within the energy sector. Additionally, Equinor has also invested in Nth Cycle, which raised $37 million in December 2023, further indicating its focus on technologies that may intersect with e-waste recycling.


8. BEWI Group

  • Website: bewi.com
  • Type: Corporate
  • Headquarters: Solna, Stockholm, Sweden
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: bewisynbra

BEWI Group, founded in 1980 and based in Solna, Stockholm, Sweden, is a corporate investor specializing in manufacturing solutions for packaging, insulation, and automotive components. The company emphasizes sustainable practices and aims to minimize environmental impact while ensuring product safety. In line with this mission, BEWI has made strategic acquisitions to bolster its recycling capabilities, notably acquiring Berga Recycling Inc. in June 2022. This acquisition is significant as Berga is recognized as a leader in recycling materials, generating sales revenues of approximately CAD 43 million in 2021. This move is part of BEWI's broader strategy to enhance its circular economy initiatives, showcasing their commitment to sustainability and recycling. Additionally, BEWI has engaged in other acquisitions, such as Nordic Emballasje and Aislenvas, which further expand their product portfolio and market reach, although these are more focused on insulation and packaging rather than e-waste specifically.


9. 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, and partners with management teams to drive growth and operational improvements in its portfolio companies. Nordic Capital has a strong focus on creating long-term value and sustainability in its investments, catering primarily to institutional investors seeking sustainable opportunities. Notably, Nordic Capital has made significant strides in the environmental sector, acquiring Sortera, a leading environmental services provider, to support its international expansion and enhance sustainable service offerings. Additionally, their acquisition of Autocirc emphasizes their commitment to circular economy principles, aiming to reduce CO2 emissions in the automotive aftermarket, which is relevant to e-waste recycling efforts.


10. Bellman Group

  • Website: bellmangroup.se
  • Type: Corporate
  • Headquarters: Solna, Stockholm, Sweden
  • Founded year: 2017
  • Headcount: 501-1000
  • Number of deals in 2024: 2
  • LinkedIn: bellman-group

Bellman Group is a corporate investor based in Solna, Stockholm, Sweden, specializing in construction and logistics services, particularly in excavation, transport, and material handling. Founded in 2017, the company operates with a focus on sustainable solutions and circular economy principles. In 2020, Bellman Group expanded its operations by acquiring SÅCAB Åkericentral AB for SEK 77 million, which included gaining access to a recycling facility. This acquisition is strategically important as it enhances their capacity in the Stockholm region and aligns with their commitment to sustainability. Additionally, their other acquisitions, such as Samgräv Holding AB and Norrvidinge, further strengthen their market position but are less directly related to e-waste recycling. Overall, Bellman Group's involvement in recycling through SÅCAB positions them as a relevant investor in the e-waste recycling sector.


11. Alder

  • Website: alder.se
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: alderfund

Alder is a private equity investment fund based in Stockholm, Sweden, founded in 2008. The firm specializes in providing growth and buyout capital to established companies with a turnover between SEK 100-750 million, particularly in the sustainable technology sector. Alder has made several notable acquisitions, including Autocirc in September 2020 and Scanacon AB in September 2018, both of which are positioned within the sustainable technology markets. Additionally, Alder acquired Centriair in November 2021, further emphasizing their focus on supporting companies that contribute to sustainable practices. These transactions indicate Alder's commitment to fostering growth in industries that may include e-waste recycling, aligning with their mission to create long-term value through sustainable investments.


12. Bestseller


Bestseller is a prominent fashion retailer based in Oslo, Norway, founded in 1975. The company operates a diverse range of brands and offers fashionable garments and accessories to consumers across multiple countries through both physical stores and online platforms. In recent years, Bestseller has demonstrated a commitment to sustainability through its investments in innovative companies focused on textile recycling. Notably, they participated in the Series B financing rounds for Evrnu, which specializes in fiber regeneration technology, and Infinited Fiber Company, which is working on sustainable textile production methods. These investments reflect Bestseller's strategic interest in advancing sustainable practices within the fashion industry, aligning with the principles of e-waste recycling by promoting the recycling and regeneration of materials.


13. Tomra

  • Website: tomra.com
  • Type: Corporate
  • Headquarters: Asker, Akershus, Norway
  • Founded year: 1972
  • Headcount: 5001-10000
  • Number of deals in 2024: 2
  • LinkedIn: tomra

TOMRA Systems ASA, founded in 1972 and based in Asker, Akershus, Norway, is a corporate investor specializing in technology solutions for sorting and processing across various industries, including food processing, mining, and recycling. With a workforce of 5001-10000 employees, TOMRA has made significant strides in enhancing recycling efficiency through innovative technologies. Notably, they have acquired companies like BottleCycler, which focuses on on-site glass crushing for the hospitality industry, and Compac Sorting Equipment, which enhances sorting capabilities. These acquisitions reflect TOMRA's strategy to bolster its recycling solutions, making them a relevant player in the recycling industry, including potential applications in e-waste recycling.


14. Norvestor

  • Website: norvestor.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1989
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability in its investment strategy, which includes sectors such as IT services and property maintenance. Notably, Norvestor acquired Sortera on May 17, 2012, a company involved in waste management and recycling, highlighting their engagement in the e-waste recycling industry. Additionally, they have a history of acquiring companies like Elkjøp Norge, which, while not directly related to e-waste, showcases their broad investment portfolio in the Nordic region.


15. Taaleri


Taaleri is an investment management firm based in Helsinki, Finland, founded in 2007. The firm specializes in managing private equity funds with a focus on sustainable investments in sectors such as bioindustry, renewable energy, and real estate. Taaleri aims to provide attractive returns while addressing environmental challenges, catering to both institutional and private investors seeking impactful projects. Notably, Taaleri participated in a €6M growth funding round for Rester, a Finnish company dedicated to the circular economy, which indicates their engagement in recycling and sustainable practices. Additionally, they have invested in Woodly Oy, a company innovating in wood-based plastic products, further demonstrating their commitment to sustainability. These transactions highlight Taaleri's alignment with environmentally focused initiatives, making them a potential player in the e-waste recycling sector.



E-Waste Recycling Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
KatapultOslo, Oslo, Norway11-5020178
VerdaneOslo, Oslo, Norway51-20019857
Almi InvestStockholm, Stockholm, Sweden51-20020093
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
EquinorStavanger, Rogaland, Norway10001+19726
BEWI GroupSolna, Stockholm, Sweden1001-500019801
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Bellman GroupSolna, Stockholm, Sweden501-100020172
AlderStockholm, Stockholm, Sweden11-5020081
BestsellerOslo, Oslo, Norway10001+19750
TomraAsker, Akershus, Norway5001-1000019722
NorvestorOslo, Oslo, Norway11-5019893
TaaleriHelsinki, Uusimaa, Finland51-20020070


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