Top 16 Health Supplement Stores Investors in the Nordics
Top 16 Health Supplement Stores Investors in the Nordics
The health supplement stores industry in the Nordics is growing rapidly, reflecting an increasing consumer focus on health and wellness. The sector includes a wide array of businesses, from brick-and-mortar pharmacies to e-commerce platforms and specialty health stores. These companies offer products ranging from vitamins and minerals to sport supplements and organic health foods. A rising trend is the integration of technology, with many shops employing online sales and personalized services. As health awareness enhances, the industry anticipates further growth, catering to a more health-conscious market eager for innovative and sustainable solutions.
Investors in the Nordics' health supplement stores scene are varied, comprising private equity, venture capital, and corporate investors. Headquartered in cities like Oslo and Stockholm, these firms vary significantly in size and age—from seasoned organizations like EQT Group, founded in 1994, to newer entrants like Kale United, established in 2018. In 2024, they collectively made over 150 investments, targeting innovative health-related companies and emphasizing their belief in the market's future potential. This dynamic investment community underlines the healthy growth seen in nutritional retail across the region.
Top 16 Health Supplement Stores 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. Among their notable transactions, Almi has invested in companies such as Eatit, which raised $585,151 in a venture round in August 2021, suggesting a focus on health-related products. Additionally, their investment in Stepler, which raised over $1.1 million in August 2021, further indicates their engagement in sectors that may intersect with health and wellness. These transactions highlight Almi's potential relevance to the health supplement stores industry.
2. 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 focuses on investing in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has invested in companies like Kate Farms, which raised $75 million in a Series C funding round to support its nutritional products, and Bactolife, which is advancing projects towards commercial launch with significant funding. Furthermore, their investment in Biosyntia, which raised €11.5 million to produce biobased vitamin B7 for dietary supplements, highlights their active role in the health supplement industry. These transactions demonstrate Novo Holdings' commitment to supporting innovations that enhance health and nutrition.
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 managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the healthcare sector, including the acquisition of Karo Healthcare for approximately $685 million in 2019, which focuses on health-related products. They also participated in the Series A funding of LBX Pharmacy, raising over $36 million, further emphasizing their commitment to the healthcare and health supplement markets. More recently, EQT Growth led a funding round for Gympass, a company promoting health and wellness, and Wellhub, which raised $85 million, indicating their ongoing interest in health-related ventures.
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, particularly in technology-enabled companies, and provides capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, with a diverse portfolio that includes investments in various sectors. Notably, they have invested in health-related companies such as MM Sports, which specializes in sports nutrition and supplements, and Farmasiet, an online pharmacy that may offer health supplements. These transactions highlight Verdane's interest in the health and wellness space, indicating their potential relevance to health supplement stores.
5. Swedencare
- Website: swedencare.com
- Type: Corporate
- Headquarters: Malmo, Skåne, Sweden
- Founded year: 2000
- Headcount: 11-50
- Number of deals in 2024: 1
- LinkedIn: swedencare
Swedencare is a corporate investor based in Malmo, Skåne, Sweden, founded in 2000. The company specializes in pet health products, offering a range of dietary supplements for dogs, cats, and horses. Their products are designed to improve pet health, addressing various issues such as dental care and anxiety. Swedencare operates an online store, allowing consumers to purchase directly. In recent years, Swedencare has made significant acquisitions to expand its footprint in the pet health supplement market. Notable transactions include the acquisition of NaturVet for $447.5 million, which is known for its therapy supplements for pets, and Nutravet for 375 million SEK, a producer of animal healthcare products. Other acquisitions include Animal Pharmaceuticals Inc. and Innovet, further enhancing their portfolio in the veterinary and pet health sectors. These strategic moves demonstrate Swedencare's commitment to growing its presence in the health supplement industry for pets.
6. Kale United
- Website: kaleunited.com
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2018
- Headcount: 1-10
- Number of deals in 2024: 2
- LinkedIn: kaleunited
Kale United is a corporate investment firm based in Stockholm, Sweden, founded in 2018. The firm specializes in impact investments focused on sustainable food production, particularly in the plant-based and foodtech sectors. Kale United aims to support individual and institutional investors who are interested in promoting a plant-based lifestyle while achieving financial returns. Notable transactions include investments in OMNI, a plant-based dog food startup that targets health issues in pets, and The Pack, which focuses on nutritionally complete plant-based pet food. These investments highlight Kale United's commitment to health and wellness through innovative food solutions, reinforcing their relevance in the health supplement stores industry.
7. Heartcore Capital
- Website: heartcore.com
- Type: Venture Capital
- Headquarters: Copenhagen, Denmark
- Founded year: 2007
- Headcount: 11-50
- Number of deals in 2024: 17
- LinkedIn: heartcorecapital
Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and emphasizes building long-term relationships with entrepreneurs. In 2024, Heartcore Capital has already made 17 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in La Fourche, which raised significant funding in 2023 and 2024, indicating a focus on health and nutrition. Additionally, their involvement in Front of the Pack, a startup in the pet health sector, further highlights their interest in health-related products. Overall, Heartcore Capital combines a technology focus with a growing portfolio in health and wellness, making them a noteworthy investor in the health supplement space.
8. VNV Global AB
- Website: vnv.global
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1996
- Headcount: 1-10
- Number of deals in 2024: 1
- LinkedIn: vostok-new-ventures-ltd
VNV Global AB is a venture capital firm based in Stockholm, Sweden, founded in 1996. The firm specializes in providing capital and expertise to innovative companies across various sectors, with a notable emphasis on Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, focusing on long-term profitability and strong market positions. Among their relevant transactions, VNV Global has invested in Numan, a London-based health clinic for men, which raised $40 million in a Series B funding round in September 2021, and previously raised €11 million in a Series A round in October 2020. Additionally, they have invested in Yoppie, a femtech start-up, which raised £3.4 million in seed funding in March 2021. These investments highlight VNV Global's commitment to the health sector, particularly in areas that intersect with health supplements and wellness.
9. 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. The firm specializes 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, including fintech and health tech. Notably, Creandum has invested in health-related companies such as 8fit, which raised $10 million in a Series A round to help individuals achieve their fitness goals through customized plans. Additionally, they participated in funding rounds for Virta Health, which has raised significant capital to address Type 2 Diabetes, showcasing their commitment to health and wellness solutions. These transactions highlight Creandum's active role in the health supplement and wellness industry, alongside their broader investment strategy.
10. 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 emphasis on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, focusing on creating long-term value and sustainability. Among its significant transactions, Nordic Capital acquired GesundHeits GmbH Deutschland in 2014, which is directly related to health products. Additionally, the firm has been involved in the acquisition of ConvaTec, a company that operates in the medical products sector, further highlighting its commitment to healthcare investments. Their diverse portfolio and strategic focus on healthcare make them a key player in the health supplement stores industry.
11. 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 an 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 made significant investments in the health supplement sector, including the acquisition of MMSports, a company focused on sports nutrition and equipment, which highlights their commitment to supporting growth and international expansion in this industry. Additionally, their acquisition of Pharmia further emphasizes their involvement in health-related investments, showcasing their capability to engage with businesses that align with health supplement stores.
12. Zinzino
- Website: zinzino.com
- Type: Corporate
- Headquarters: Gothenburg, Västra Götaland, Sweden
- Founded year: 2005
- Headcount: 51-200
- Number of deals in 2024: 5
- LinkedIn: zinzino_2
Zinzino is a corporate investor based in Gothenburg, Sweden, founded in 2005. The company specializes in health supplements, offering a variety of nutritional products and home health tests designed to enhance individual wellness. Their product line includes Omega supplements and personalized health protocols, targeting health-conscious consumers. In 2024, Zinzino made significant strides in the health supplement industry by acquiring Zurvita for $11.5 million and Valentus Global, further expanding their portfolio in the wellness sector. Additionally, Zinzino acquired a 49% stake in Cleanthi Alpha-Olenic LTD, a Cypriot olive oil producer, to enhance their distribution capabilities and product offerings. These transactions highlight Zinzino's strategic focus on growth within the health supplement market.
13. Orkla ASA
- Website: orkla.com
- Type: Corporate
- Headquarters: Oslo, Oslo, Norway
- Founded year: 2017
- Headcount: 10001+
- Number of deals in 2024: 1
- LinkedIn: orkla-asa
Orkla ASA is a leading industrial investment company based in Oslo, Norway, founded in 2017. The company operates across various sectors, including branded consumer goods, aluminium solutions, and financial investments. Orkla offers a diverse range of products, particularly in food, snacks, health, and personal care. Notably, Orkla has made significant strides in the health supplement sector through strategic acquisitions. In 2017, it acquired Health and Sports Nutrition Group HSNG AB for approximately US$42.41 million, making it the largest online health and sports nutrition company in the Nordic region. In 2021, Orkla further expanded its health portfolio by acquiring NutraQ for NOK 3.1 billion, which includes well-known health and beauty brands such as VitaePro and Oslo Skin Lab. Additionally, in 2022, Orkla Health acquired a majority stake in Vesterålen Marine Olje AS, enhancing its health and sustainability initiatives, particularly for its Möller’s Tran cod liver oil brand. These transactions highlight Orkla's commitment to the health supplement industry and its strategy to provide high-quality branded goods in this market.
14. Lifeline Ventures
- Website: lifelineventures.com
- Type: Venture Capital
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2009
- Headcount: 1-10
- Number of deals in 2024: 14
- LinkedIn: lifeline-ventures
Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments in startups across various sectors, providing financial backing and advisory services to entrepreneurs. Lifeline Ventures has a notable focus on supporting resilient founders from the inception of their ventures. Among their relevant transactions, they invested in Ambronite, which raised $600,000 in a seed round for health-oriented meal replacement products. They also led a seed funding round for Oura, a company known for its wellness ring and app, which emphasizes health tracking and personal wellness. Additionally, they participated in the funding round for Veri, a Finnish health tech company, further showcasing their commitment to the health and wellness sector. These transactions highlight Lifeline Ventures' active role in supporting innovative health-related startups.
15. FSN Capital Partners
- Website: fsncapital.com
- Type: Private Equity
- Headquarters: Oslo, Oslo, Norway
- Founded year: 1999
- Headcount: 51-200
- LinkedIn: fsn-capital
FSN Capital Partners is a private equity investment firm based in Oslo, Norway, founded in 1999. The firm specializes in managing investments across various sectors, including services, green transition, industrials, and technology, with a focus on driving growth and transformation in its portfolio companies. Notably, FSN Capital has made significant investments in the health and wellness sector, including the acquisition of Fitness World AS, a fitness services company that has shown strong growth, and the venture funding of Vita Group, which is involved in health-related products. These transactions highlight FSN Capital's engagement in the health and fitness industry, suggesting a potential interest in health supplement stores as part of their investment strategy.
16. 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 established in 2018 that supports Finnish companies in their growth and internationalization efforts. It offers funding, consulting services, and market opportunities to help businesses innovate and succeed in global markets. The organization plays a crucial role in promoting trade, tourism, and foreign investment in Finland. Notably, Business Finland has been involved in several transactions relevant to the health supplement sector, including investments in startups like Popit, which focuses on health technology, and Triumf Health, which received funding for health-related innovations. These transactions demonstrate Business Finland's active role in fostering health-related businesses, making it a significant player in the health supplement industry.
Health Supplement Stores Insights: Key Investors in the Nordics
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Almi | Stockholm, Stockholm, Sweden | 201-500 | 1994 | 7 |
| Novo Holdings | Hellerup, Denmark | 51-200 | 1999 | 45 |
| EQT Group | Stockholm, Stockholm, Sweden | 1001-5000 | 1994 | 30 |
| Verdane | Oslo, Oslo, Norway | 51-200 | 1985 | 7 |
| Swedencare | Malmo, Skåne, Sweden | 11-50 | 2000 | 1 |
| Kale United | Stockholm, Stockholm, Sweden | 1-10 | 2018 | 2 |
| Heartcore Capital | Copenhagen, Denmark | 11-50 | 2007 | 17 |
| VNV Global AB | Stockholm, Stockholm, Sweden | 1-10 | 1996 | 1 |
| Creandum | Stockholm, Stockholm, Sweden | 11-50 | 2003 | 17 |
| Nordic Capital | Stockholm, Stockholm, Sweden | 201-500 | 1989 | 10 |
| CapMan | Helsinki, Uusimaa, Finland | 51-200 | 1989 | 4 |
| Zinzino | Gothenburg, Västra Götaland, Sweden | 51-200 | 2005 | 5 |
| Orkla ASA | Oslo, Oslo, Norway | 10001+ | 2017 | 1 |
| Lifeline Ventures | Helsinki, Uusimaa, Finland | 1-10 | 2009 | 14 |
| FSN Capital Partners | Oslo, Oslo, Norway | 51-200 | 1999 | 0 |
| Business Finland | Helsinki, Uusimaa, Finland | 501-1000 | 2018 | 26 |
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