The Nordic advertising industry is rapidly evolving, characterized by innovative companies ranging from digital marketing agencies to advanced advertising technology firms. Countries like Sweden, Norway, Finland, and Denmark host thriving ecosystems with a mix of startups and established players. Key offerings include content marketing, programmatic advertising, and influencer marketing platforms, reflecting changing consumer behaviors and digital trends. As brands increasingly focus on customer engagement and personalization, Nordic firms are adapting with innovative solutions, integrating artificial intelligence and data analytics to enhance marketing effectiveness. The industry is expected to grow as more businesses recognize the value of strategic advertising investments.


The list includes various investors from the Nordic region, comprising venture capital firms, private equity players, and corporate investors. Headquartered across major cities such as Stockholm, Oslo, and Helsinki, these investors vary in size—ranging from small firms to larger institutions—and were founded between 1979 and 2016. In 2024, these 16 investors engaged in a remarkable total of 100 transactions, showcasing their active involvement in shaping the advertising landscape. They collectively support startups and established companies that drive innovation within the advertising sector, reinforcing the area's significance as an investment destination.


Top 16 advertising 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. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions within the advertising sector, including investments in companies like Strossle, which focuses on content marketing and advertising solutions, Match2One, a programmatic advertising platform, Emerse, which specializes in digital advertising, and Adlede, a company that provides advertising technology solutions. These investments highlight Almi's active role in supporting the advertising industry, alongside their broader mission to foster SME growth.


2. LINK Mobility

LINK Mobility is a corporate investor based in Oslo, Norway, founded in 2000. The company specializes in mobile communication services, offering a range of products including SMS messaging, RCS, and marketing automation solutions aimed at enhancing customer engagement for businesses across various industries. LINK Mobility has been active in the advertising context through several acquisitions, including MarketingPlatform in April 2021, which likely enhances their marketing capabilities. Other notable acquisitions include SMS Italia Srl and Totalconnect, both of which strengthen their mobile messaging services. These transactions reflect LINK Mobility's commitment to expanding its footprint in the marketing and advertising sectors, making it a significant player in the 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 leading 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. Notably, EQT has made significant investments in the advertising and media landscape, including a strategic investment in United Talent Agency (UTA), which aims to enhance talent, innovation, and international expansion in the entertainment sector. Furthermore, EQT's recent takeover bid for Believe, a digital music company, highlights their commitment to the media industry, which is closely linked to advertising. Their acquisition of United Digital Group also reflects their interest in digital marketing and advertising services, reinforcing their relevance in this space.


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. Specializing in growth equity investments, Verdane focuses on technology-enabled companies, providing capital and hands-on support to help businesses scale. Their investment strategy emphasizes digitalization and decarbonization trends, catering primarily to technology companies looking to enhance their market position and operational efficiency. Notably, Verdane has made significant investments in the advertising context, including the acquisition of Tradedoubler, a performance marketing company, and a recent investment in Meltwater, a media monitoring startup that plays a crucial role in the advertising and media landscape. These transactions highlight Verdane's commitment to supporting companies that are integral to the advertising industry, alongside their broader focus on technology and growth.


5. 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 firm specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. They provide financial support and strategic guidance to startups, helping them scale their innovative solutions. Notably, Industrifonden has made significant investments in the advertising sector, including a Series A funding round for Widespace, a premium mobile ad network, which raised €3 million to expand internationally and develop its mobile advertising platform. Additionally, they co-led a later investment round in Widespace totaling EUR 15.8 million, further solidifying their commitment to the advertising technology space. Their investment in Realforce, which focuses on simplifying marketing for the real estate industry, also reflects their engagement in advertising-related ventures. Overall, Industrifonden aims to create long-term value through partnerships with passionate founders, including those in the advertising industry.


6. 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 Copenhagen, specializing in providing seed funding and advisory services to technology startups in Denmark. Founded in 2004, the firm has a strong track record of successful investments, particularly in sectors such as SaaS and Fintech. Notably, Seed Capital has invested in several companies relevant to the advertising industry, including Densou Adtech, which focuses on advertising technology, and Tailify, a company that raised $830,532 in a Pre Seed Round in 2014. Additionally, they have supported Blackwood Seven, a company involved in marketing analytics, indicating their engagement with advertising-related ventures. Seed Capital's approach is to support portfolio companies from seed stage to exit, helping founders navigate their growth journey and secure further funding.


7. CapMan

  • Website: capman.com
  • Type: Private Equity
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1989
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: capman

CapMan Oyj is a prominent investment management firm based in Helsinki, Finland, specializing in private equity, real estate, infrastructure, and natural capital investments. Founded in 1989, CapMan serves institutional investors by providing access to diverse investment strategies aimed at achieving sustainable returns. With a strong presence in the Nordic markets, CapMan leverages its expertise to manage funds and drive value creation for its clients. Notably, CapMan has been involved in several transactions relevant to the advertising sector, including investments in The North Alliance, a notable player in the advertising industry, and Kokoc Group, which also operates in marketing and communications. These transactions highlight CapMan's engagement with companies that contribute to the advertising landscape, reinforcing its relevance in this sector.


8. 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 resilient entrepreneurs across various sectors. Lifeline Ventures has made notable investments in the advertising technology space, including Smartly.io, which raised $2,803,338 in a Series A round in 2015, and Kayzen, which closed a Late-Seed funding round exceeding $4 million in 2020, aimed at enhancing mobile performance advertising. Additionally, they invested in Mobal, which secured €2 million in seed funding in 2021. These transactions highlight Lifeline Ventures' commitment to supporting innovative companies within the advertising industry, alongside their broader investment strategy.


9. Schibsted

  • Website: schibsted.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1839
  • Headcount: 5001-10000
  • Number of deals in 2024: 3
  • LinkedIn: schibsted-asa

Schibsted Media Group, founded in 1839 and based in Oslo, Norway, is a corporate investor primarily focused on the digital marketplace sector. The company operates various online platforms for classified ads and second-hand goods, catering to both consumers and businesses. Schibsted has made strategic acquisitions to enhance its presence in the advertising industry, including the acquisition of Inzpire.me, where it increased its stake from 25% to 90%. This influencer marketing platform generated approximately $4.4 million in revenue in 2022, indicating its potential in the advertising space. Furthermore, Schibsted's acquisition of MB Diffusion, a French online classifieds marketplace, and its involvement in funding rounds for advertising-related ventures demonstrate its active role in the advertising ecosystem. Overall, Schibsted's diverse investments and focus on digital services position it as a significant player in the advertising industry.


10. Wellstreet

  • Website: wellstreet.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: wellstreet

Wellstreet is a venture capital firm based in Stockholm, Sweden, founded in 2016. The firm specializes in early-stage investments in Nordic tech companies, providing entrepreneurs with capital and strategic support to foster growth and innovation. Wellstreet primarily focuses on sectors such as FinTech, E-commerce, and GreenTech, but they have also made significant investments in the advertising industry. Notably, they invested in DanAds, a Stockholm-based advertising company, which raised $5 million in a funding round backed by Wellstreet and other angel investors. This investment highlights Wellstreet's engagement in the advertising sector, alongside their other tech-focused investments. Their portfolio includes multiple funding rounds for DanAds, indicating a strong commitment to supporting growth in the advertising space.


11. Sanoma

  • Website: sanoma.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1889
  • Headcount: 5001-10000
  • LinkedIn: sanoma

Sanoma is a media and educational publishing company based in Helsinki, Finland, founded in 1889. It provides a diverse range of learning solutions and media content, including printed and digital learning materials and teaching platforms. Sanoma serves educational institutions and media consumers across multiple European countries. Notably, in 2008, Sanoma Magazines International acquired approximately 68% of Net Info.BG AD, Bulgaria's leading internet company, which aligns with their strategy to enhance their digital media presence. This acquisition not only expands their portfolio but also positions them to leverage advertising opportunities in the digital space, further integrating them into the advertising ecosystem.


12. 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 venture capital firm based in Stockholm, Sweden, founded in 2013. As the investment division of the Bonnier Group, it 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 media and advertising sectors, including Acast, a leading podcasting platform that has raised over $50 million across multiple funding rounds, and United Screens, a digital video network. These investments highlight Bonnier Ventures' commitment to fostering growth in companies that leverage advertising as a key component of their business models.


13. OpenOcean

  • Website: openocean.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: openocean-vc

OpenOcean is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in investing in early-stage technology startups across Europe, with a strong focus on empowering founders in the data economy. OpenOcean provides capital and expertise to help scale innovative solutions in various technology industries. Notably, OpenOcean has been involved in several transactions within the advertising sector, including investments in LoopMe, a British ad startup that has raised significant funding to enhance its advertising capabilities, and Tapdaq, a provider of an in-app advertising platform for mobile developers. These investments highlight OpenOcean's active role in the advertising industry, alongside their broader technology investment strategy.


14. Better Collective

Better Collective is a corporate investor based in Copenhagen, Denmark, founded in 2001. The company operates as a digital media entity specializing in sports and esports content, engaging sports fans and bettors through various content formats. Better Collective focuses on performance-based marketing and community building, providing valuable insights and resources for navigating the sports betting landscape. In recent transactions, Better Collective has made significant acquisitions to bolster its media capabilities. For instance, they acquired Playmaker Capital for $188 million, aiming to enhance their audience reach in the sports media sector. Additionally, the acquisition of Goalmedia Tecnologia e Marketing Digital, which owns the sports news site 'Torcedores.com', further emphasizes their commitment to expanding their influence in the sports marketing domain. These strategic moves highlight Better Collective's role in the advertising industry, particularly within the context of sports and betting.


15. 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, that specializes in investing in early-stage tech startups. They provide 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. Notably, EQT Ventures has invested in Permutive, a London and New York-based audience platform for publishers and advertisers, which raised a total of $75M in Series C funding, $18M in Series B, and $10M in Series A. This platform aims to create a global privacy-first infrastructure for programmatic advertising, showcasing EQT's engagement in the advertising technology space. Additionally, they led a Series B investment in Tinyclues, a company that enhances marketing campaigns through AI-driven insights, further emphasizing their involvement in the advertising sector.


16. 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. With a focus on sustainable investments, Spintop Ventures has been involved in several notable transactions, including investments in companies like Strossle and PinMeTo, which are relevant to the advertising industry. Notably, they invested in Adway, a company that provides automated social recruitment marketing solutions, indicating their engagement in the advertising sector. This diverse portfolio highlights their commitment to fostering growth in technology while also supporting ventures that intersect with advertising.



advertising Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
LINK MobilityOslo, Oslo, Norway501-100020003
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
VerdaneOslo, Oslo, Norway51-20019857
IndustrifondenStockholm, Stockholm, Sweden11-5019799
Seed Capital DenmarkFrederiksberg, Frederiksberg, Denmark1-1020045
CapManHelsinki, Uusimaa, Finland51-20019894
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
SchibstedOslo, Oslo, Norway5001-1000018393
WellstreetStockholm, Stockholm, Sweden1-1020163
SanomaHelsinki, Uusimaa, Finland5001-1000018890
Bonnier VenturesStockholm, Stockholm, Sweden1-1020131
OpenOceanHelsinki, Uusimaa, Finland11-5020097
Better CollectiveCopenhagen, Denmark1001-500020011
EQT VenturesStockholm, Stockholm, Sweden11-50201528
Spintop VenturesStockholm, Stockholm, Sweden1-1020094


Want to find more investors focusing on the advertising industry?

If you want to find more investors that are active in the advertisingindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

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!