The vfx animation industry in the Nordics is vibrant and growing, driven by advances in technology and storytelling. Numerous companies, from independent studios to established firms, focus on creating visual effects for film, television, and gaming. Nordic creators are recognized for their unique artistic flair and innovative approaches, integrating cutting-edge technology like virtual reality and augmented reality. Emerging opportunities continue to arise as demand expands for high-quality animation in advertising, visual content, and interactive media. Insightfully, the Nordic region attracts global attention, offering a talent pool that fosters creativity and collaboration.


This list features 15 prominent investors actively supporting the vfx animation sector across the Nordics. With a mix of venture capital and private equity companies, these investors hail from cities like Stockholm and Helsinki, varying in size from small teams to large firms with hundreds of employees. Founded between 1994 and 2018, their activity in 2024 includes numerous investments, reflecting their commitment to fueling innovation in the industry. Notable firms like EQT and Almi exemplify the significant financial backbone driving vfx animation growth in the region.


Top 15 VFX Animation Investors in the Nordics


1. 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. The firm provides 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. Among their notable transactions, they have invested in Vectary, a 3D and Augmented Reality design platform that aims to democratize high-quality 3D design, and Kaiber, which raised funds in a seed round. These investments highlight EQT Ventures' commitment to supporting companies that are relevant to the vfx animation industry, showcasing their interest in innovative technologies that enhance visual creativity and design.


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 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 investments in the entertainment and creative sectors, including the acquisition of Keywords Studios for approximately £2.1 billion, which highlights their commitment to the vfx and animation industry. Additionally, their strategic investment in United Talent Agency (UTA) positions them as a key player in the talent and innovation space within entertainment. Their acquisition of Cast & Crew Entertainment Services further emphasizes their focus on supporting growth in the entertainment industry, which is closely tied to vfx and animation services.


3. 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 its notable transactions, Almi invested in Plotagon, which raised $3,000,000 in a venture round in 2015, highlighting its engagement in the animation sector. Additionally, Almi has supported other companies like Flarie and Reactional Music, which, while not directly in the vfx animation space, indicate a broader interest in creative and digital industries. This diverse portfolio suggests that Almi is open to investing in innovative sectors, including vfx animation.


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, 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 in the tech and creative sectors, including investments in Sólfar Studios, a VR developer known for its immersive experiences, and Vizor.io, a virtual reality software provider. These investments indicate Inventure's interest in the intersection of technology and creative content, particularly in areas that relate to visual effects and animation. Their portfolio also includes Omeda Studios, which further emphasizes their engagement with companies that may contribute to the vfx animation industry.


5. Starbreeze Entertainment

  • Website: starbreeze.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1998
  • Headcount: 51-200
  • LinkedIn: starbreeze

Starbreeze Entertainment, founded in 1998 and based in Stockholm, Sweden, is a corporate investor primarily known as a video game developer and publisher. They are recognized for creating engaging, community-driven games, with notable titles such as PAYDAY 2. Starbreeze's business model emphasizes long-lasting gaming experiences, focusing on interactive and evolving gameplay. In addition to their core gaming operations, Starbreeze has made strategic acquisitions to enhance their portfolio. Notably, in 2016, they acquired Nozon, a Belgian visual effects studio, for EUR 7.1 million, which included both cash and shares. This acquisition highlights their interest in the visual effects domain, indicating a potential expansion into vfx animation. Furthermore, their acquisition of Overkill Software in 2012, while primarily focused on game development, showcases their strategy of integrating innovative gameplay into their offerings. Overall, Starbreeze's activities reflect a broader interest in enhancing their creative capabilities, including in the vfx animation space.


6. Nordisk Film


Nordisk Film A/S, founded in 1906 and based in Copenhagen, Denmark, is a prominent film production company that specializes in producing films and related merchandise. The company is particularly known for the iconic Olsen Banden series and engages consumers through film-related products and experiences. In recent years, Nordisk Film has expanded its portfolio by investing in the gaming industry, notably acquiring Avalanche Studios for EUR 89 million, which marked the largest acquisition in its history. This acquisition followed a previous minority stake in the studio, indicating a strong commitment to the gaming sector. Additionally, Nordisk Film invested SEK 100M in Avalanche Studios in 2017, further solidifying its position in the gaming market. While these transactions highlight Nordisk Film's interest in creative industries that utilize visual effects and animation, their primary focus remains on film production and gaming rather than specifically on vfx animation.


7. 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 is known for partnering 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. Notably, the firm has been involved in transactions with Vizrt, a digital media company valued at $374 million in a private equity buyout bid in 2014, and has participated in multiple funding rounds for Vizrt Group in 2015 and 2022. These transactions highlight Nordic Capital's engagement in the digital media space, which is relevant to the vfx animation industry.


8. Crowberry Capital

  • Website: crowberrycapital.com
  • Type: Venture Capital
  • Headquarters: Reykjavík, Reykjavíkurborg, Iceland
  • Founded year: 2017
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: crowberry-capital

Crowberry Capital is a venture capital firm based in Reykjavík, Iceland, founded in 2017. The firm specializes in investing in seed and early-stage startups across the Nordic region, with a strong focus on technology-driven companies. They provide not only capital but also strategic guidance to help entrepreneurs realize their bold visions. Notably, Crowberry Capital led a $1 million funding round for Aldin Dynamics, a VR company that is developing consumer-focused VR experiences, which aligns with the visual effects and animation industry. Additionally, they have invested in 1939 Games, a company that has raised significant funds for its digital collectible card game, Kards, indicating their interest in gaming and potentially related visual technologies. These transactions highlight Crowberry Capital's engagement with sectors that could be relevant to vfx animation.


9. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a focus on enhancing operational efficiency and sustainable growth through tailored investment strategies and digital transformation solutions. Notably, Altor has been involved in significant transactions such as the acquisition of Iyuno-SDI Group, which enhances capabilities in media localization—a key area that intersects with vfx animation. Additionally, their acquisition of a majority stake in Raw Fury Games highlights their interest in the gaming industry, which often incorporates vfx and animation elements. These transactions reflect Altor's strategic approach to investing in sectors that are relevant to the vfx animation industry.


10. 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. They specialize in supporting early-stage entrepreneurs in building global, category-defining companies. With a focus on nurturing companies from seed to IPO, Creandum provides venture capital investment, strategic support, and networking opportunities across various sectors. Notably, they have invested in Epidemic Sound, a platform that provides music for visual media, raising $20 million in 2019 and $5 million in a Series A round in 2014. Additionally, they led a €3.3 million seed funding round for Kosmik, a collaborative visual canvas for capturing and sharing information, which could have applications in the vfx animation industry. These transactions highlight Creandum's engagement with companies that operate in creative and digital spaces, making them a potential player in the vfx animation sector.


11. ProVenture

  • Website: proventure.no
  • Type: Venture Capital
  • Headquarters: Trondheim, Trøndelag, Norway
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: proventure-management

ProVenture is a venture capital firm based in Trondheim, Trøndelag, Norway, founded in 2006. The firm specializes in seed and early-stage investments, primarily targeting digital technology startups. ProVenture aims to provide capital and strategic support to entrepreneurs, fostering the development of innovative solutions and helping businesses scale effectively. Notably, ProVenture has invested in Cinevision, a company that raised funds in a seed round in December 2007. This investment highlights ProVenture's engagement in the vfx animation industry, showcasing its interest in supporting ventures that contribute to this creative sector. The firm operates with a focus on creating substantial economic, social, and environmental value through sustainable business models, which may also resonate with companies in the vfx animation space that prioritize innovative and responsible practices.


12. Alfvén & Didrikson


Alfvén & Didrikson is a venture capital firm based in Stockholm, Sweden, founded in 2010. The firm specializes in backing growth-oriented companies, particularly in the technology and health sectors, providing both financial support and strategic guidance to entrepreneurs. They emphasize long-term partnerships with their investee companies and primarily operate in Northern Europe. One of their notable transactions includes a $3.5 million investment in ftrack, a company that offers project management solutions tailored for the visual effects and animation industries. This investment, announced on September 11, 2018, aims to accelerate ftrack's global expansion and strengthen its team, highlighting Alfvén & Didrikson's engagement in the vfx animation context.


13. Evli Growth Partners

  • Website: egp.fi
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: evli-growth-partners

Evli Growth Partners is a venture capital fund based in Helsinki, Uusimaa, Finland, founded in 2018. The firm specializes in investing in growth companies, providing not only capital but also strategic guidance and support to help these companies scale effectively. They focus on fostering collaboration between investors and founders to drive sustainable growth. Evli Growth Partners operates primarily in the investment management sector, targeting innovative startups across various industries. Notably, they led a Series B funding round for CGTrader, a 3D model provider, raising $9.5 million. This investment highlights their engagement in the digital content creation space, which is closely related to the vfx animation industry, showcasing their potential relevance in this sector.


14. Gro

  • Website: grocapital.dk
  • Type: Private Equity
  • Headquarters: København K, Denmark
  • Founded year: 2014
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: gro-capital

GRO Capital is a private equity firm based in København K, Denmark, founded in 2014. The firm specializes in investments in high-quality B2B software companies, providing capital and strategic support to help these companies scale their operations and enhance their market presence. With a focus on the Northern European market, GRO Capital aims to unlock growth potential in its portfolio companies through active management and investment. One of their notable transactions includes the acquisition of Luxion on April 14, 2021. Luxion is recognized for its software solutions that cater to the animation and visual effects industry, making this acquisition particularly relevant to the vfx animation context. This involvement suggests that GRO Capital has a stake in the vfx animation sector, aligning with their investment strategy.


15. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient entrepreneurs across various sectors. Lifeline Ventures has been involved in several notable transactions, including a seed funding round for Vizor.io, a virtual reality software provider that raised $2.3M in 2017. This investment highlights Lifeline's interest in innovative technologies that intersect with the vfx animation industry, as virtual reality is a significant area of growth within this field. Their focus on supporting startups positions them as a potential partner for companies in the vfx animation space.



VFX Animation Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT VenturesStockholm, Stockholm, Sweden11-50201528
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
AlmiStockholm, Stockholm, Sweden201-50019947
InventureHelsinki, Uusimaa, Finland11-5020059
Starbreeze EntertainmentStockholm, Stockholm, Sweden51-20019980
Nordisk FilmCopenhagen, Denmark1001-500019060
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Crowberry CapitalReykjavík, Reykjavíkurborg, Iceland1-1020176
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
CreandumStockholm, Stockholm, Sweden11-50200317
ProVentureTrondheim, Trøndelag, Norway1-1020062
Alfvén & DidriksonStockholm, Stockholm, Sweden11-5020100
Evli Growth PartnersHelsinki, Uusimaa, Finland1-1020183
GroKøbenhavn K, Denmark11-5020141
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914


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