Top 17 Health Supplement Investors in the Nordics
Top 17 Health Supplement Investors in the Nordics
The health supplement industry in the Nordics has gained momentum, with companies focused on nutritional products, including vitamins, minerals, herbal extracts, and sports nutrition. This vibrant sector features a mix of start-ups and established brands, appealing to an increasingly health-conscious populace. Innovations often cater to trends like plant-based diets and sustainable practices. Additionally, pet health supplements have surged, indicating a broader awareness of holistic wellness. As the industry evolves, digital commerce and personalized nutrition are expected to shape future growth, making these products more accessible and tailored to individual needs.
The listed top health supplement investors in the Nordics showcase a variety of types, including venture capital, private equity, and corporate investors. Spanning major cities like Stockholm, Hellerup, and Oslo, these investors vary in size, from small firms with just a handful of employees to large corporations boasting thousands. Established between 1936 and 2017, their investment activities in 2024 ranged from a single deal to over 45. This complex network of funding sources signals a robust future for health-related products in the region.
Top 17 Health Supplement 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 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 made significant investments in companies relevant to the health supplement industry. For instance, they participated in a Series B funding round for Biosyntia, a precision fermentation firm that is developing biobased vitamin B7 and other natural active ingredients for dietary supplements, food, and beauty products. Additionally, they have invested in Bactolife, which is working on health-related projects aimed at commercial launch. These transactions highlight Novo Holdings' commitment to supporting innovation in the health supplement sector.
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, founded in 1994. It provides loans, risk capital, and business development support to small and medium-sized enterprises, aiming to enhance their growth and competitiveness through tailored financial solutions. Among their notable transactions, Almi has invested in Eatit, which raised $585,151 in a venture round in August 2021, indicating a focus on health-oriented products. Additionally, they have participated in funding rounds for other companies like Stepler and Kvix, which, while not explicitly health supplement-related, demonstrate Almi's active role in supporting innovative ventures. Their diverse investment portfolio suggests a broad interest in various sectors, including health and nutrition, making them a potential player in the health supplement market.
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 strides in the health supplement industry, highlighted by their acquisition of Fertin Pharma, a Danish manufacturer of medicated chewing gum, which showcases their commitment to health-related products. Additionally, their acquisition of Karo Healthcare further emphasizes their focus on the health sector. With a total of 30 investments in 2024, EQT Group demonstrates a robust investment strategy that includes key players in the health and wellness market, making them a versatile and impactful investor in the health supplement space.
4. 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 aimed at improving the health of dogs, cats, and horses. Their product line addresses various health issues, including dental care and anxiety, and they operate an online store for direct consumer sales. In recent years, Swedencare has made significant acquisitions to expand its footprint in the animal healthcare sector. 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 (£33 million), both of which enhance Swedencare's portfolio in the pet health supplement market. Other acquisitions, such as Innovet and Animal Pharmaceuticals Inc., further demonstrate their commitment to expanding their offerings in the veterinary and animal health supplement space.
5. 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 sustainable food production through impact investments in plant-based and foodtech companies. It caters to both individual and institutional investors who are interested in supporting the transition to a plant-based lifestyle while achieving financial returns. Notable transactions include investments in OMNI, a plant-based dog food startup that aims to address health issues in pets, and Swedish Temptations, which produces vegan and organic foods. Additionally, Kale United has invested in Loki Foods, an alt-seafood producer, and THE PACK, another plant-based pet food startup, further demonstrating their commitment to health-oriented and sustainable food products.
6. Kinnevik
- Website: kinnevik.com
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1936
- Headcount: 11-50
- Number of deals in 2024: 10
- LinkedIn: investment-ab-kinnevik
Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. They partner with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. Kinnevik provides both capital and operational support to help companies scale and create long-term value. Their focus on redefining industries and addressing global challenges is evident in their investment strategy. Notably, Kinnevik has made significant investments in the healthcare sector, including a $104.9 million investment in Livongo, a company that specializes in health technology for chronic conditions, and a $23 million investment in Joint Academy, a digital health firm. These transactions highlight Kinnevik's active role in the healthcare space, particularly in areas that could relate to health supplements and overall health improvement.
7. 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 focuses on providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and the creation of strong market positions. Notably, 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. They have also invested in Yoppie, a femtech start-up, which raised £3.4 million in seed funding in March 2021. These transactions highlight VNV Global's commitment to the health sector, particularly in areas that intersect with health supplements and wellness.
8. 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. Heartcore has been involved in various funding rounds, including notable transactions in the health sector. For instance, they participated in funding for Front of the Pack, a startup focused on pet health, which raised significant capital in both seed and Series A rounds. Additionally, they have invested in La Fourche, a company that raised substantial amounts in Series B funding, indicating their interest in health-related ventures. Overall, Heartcore Capital combines a technology focus with a growing interest in health and wellness sectors, making them a noteworthy investor in the health supplement space.
9. 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, Västra Götaland, Sweden, founded in 2005. As a health supplement company, Zinzino offers a diverse range of nutritional products and home health tests aimed at improving individual wellness. Their product offerings include Omega supplements and personalized health protocols, catering primarily to health-conscious consumers. In 2024, Zinzino made significant acquisitions, including Zurvita for $11.5 million and Valentus Global, further solidifying their presence in the health supplement market. Additionally, they acquired a 49% stake in Cleanthi Alpha-Olenic LTD, a Cypriot olive oil producer, as part of their strategy to enhance distribution and expand their product portfolio. These transactions highlight Zinzino's active role in the health supplement industry and their commitment to growth within this sector.
10. 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 items. Notably, Orkla has made strategic acquisitions in the health supplement industry, such as the acquisition of NutraQ for NOK 3.1 billion, which includes health and beauty brands like VitaePro and Oslo Skin Lab. Additionally, they acquired Health and Sports Nutrition Group HSNG AB for approximately US$42.41 million, solidifying their position as a leader in the Nordic health and sports nutrition e-commerce market. Furthermore, Orkla Health's acquisition of a 95% stake in Vesterålen Marine Oil highlights their focus on health and sustainability, particularly through their Möller’s Tran cod liver oil brand, which has experienced significant growth. These transactions underscore Orkla's active role in the health supplement sector.
11. Butterfly Ventures
- Website: butterfly.vc
- Type: Venture Capital
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2012
- Headcount: 1-10
- Number of deals in 2024: 5
- LinkedIn: butterfly-ventures
Butterfly Ventures is a venture capital firm based in Helsinki, Finland, founded in 2012. The firm specializes in seed stage investments, particularly in deep tech startups, and emphasizes social and environmental impact in its investment strategy. Notable transactions include investments in Uute Scientific Oy, a Finnish science-based company that has raised significant funding to accelerate its growth, and Popit, which raised over €1.2M to bring its health technology device, Popit Sense, to market. These investments highlight Butterfly Ventures' engagement in the health and wellness sector, making them a relevant player in the health supplement industry.
12. 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, a company that raised $600,000 in a seed round for its meal replacement products, and participated in funding rounds for Oura, a health tech company known for its wellness ring that tracks various health metrics. Their involvement in these health-focused startups highlights their commitment to the health and wellness industry, particularly in areas related to supplements and health technology.
13. 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 based in Stockholm, Sweden, founded in 2015. The firm specializes in investing in early-stage tech startups, providing not only financial support but also operational assistance to entrepreneurs. 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 Natural Cycles, a leading women's health company that focuses on digital contraception and reproductive health, raising significant funding rounds to support clinical research and product development. Additionally, they have invested in Lenus eHealth, which emphasizes health technology, and BEAT81, a fitness technology company. These investments highlight EQT Ventures' commitment to the health and wellness sector, making them a relevant player in the health supplement industry.
14. 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 across various sectors, including fintech and health tech. Creandum provides venture capital investment, strategic support, and networking opportunities to startups. Notably, they have invested in health-related companies such as Virta Health, which focuses on combating Type 2 Diabetes, and 8fit, a health and fitness company that has helped millions achieve their fitness goals. Their investment in Virta Health includes participation in multiple funding rounds, showcasing their ongoing interest in health management solutions. Additionally, their investment in 8fit highlights their commitment to health and wellness, further solidifying their relevance in the health supplement industry.
15. 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. Notably, Investinor has been involved in several transactions relevant to the health sector, including investments in Dele Health Tech, which raised NOK 65 million to support its health technology initiatives, and Eyr, a Norwegian e-healthcare company that secured NOK 22 million in funding, making Investinor its largest shareholder. Additionally, their investment in Smartfish AS, which focuses on health-related products, further emphasizes their engagement in the health supplement and wellness industry.
16. 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 sustainable investment opportunities for institutional investors. Among its relevant transactions, Nordic Capital acquired GesundHeits GmbH Deutschland in 2014, a company likely involved in health-related products. Additionally, the firm acquired Greenfood Group in 2015, which operates in the health food sector, further demonstrating its commitment to the health and wellness industry. These transactions highlight Nordic Capital's strategic interest in health-related investments, reinforcing its position as a significant player in the health supplement market.
17. 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, Uusimaa, 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 active in various sectors, including health-related ventures. Notably, they invested in OME Health, a London-based company that raised $1.25 million in Seed funding in June 2018, indicating their interest in health-focused startups. Additionally, they have made multiple investments in Elsa, a company that has raised significant funds in the health sector, further demonstrating their engagement in health-related industries. Overall, Inventure's portfolio reflects a commitment to supporting innovative companies, including those in the health supplement space.
Health Supplement Insights: Key Investors in the Nordics
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Novo Holdings | Hellerup, Denmark | 51-200 | 1999 | 45 |
| Almi | Stockholm, Stockholm, Sweden | 201-500 | 1994 | 7 |
| EQT Group | Stockholm, Stockholm, Sweden | 1001-5000 | 1994 | 30 |
| Swedencare | Malmo, Skåne, Sweden | 11-50 | 2000 | 1 |
| Kale United | Stockholm, Stockholm, Sweden | 1-10 | 2018 | 2 |
| Kinnevik | Stockholm, Stockholm, Sweden | 11-50 | 1936 | 10 |
| VNV Global AB | Stockholm, Stockholm, Sweden | 1-10 | 1996 | 1 |
| Heartcore Capital | Copenhagen, Denmark | 11-50 | 2007 | 17 |
| Zinzino | Gothenburg, Västra Götaland, Sweden | 51-200 | 2005 | 5 |
| Orkla ASA | Oslo, Oslo, Norway | 10001+ | 2017 | 1 |
| Butterfly Ventures | Helsinki, Uusimaa, Finland | 1-10 | 2012 | 5 |
| Lifeline Ventures | Helsinki, Uusimaa, Finland | 1-10 | 2009 | 14 |
| EQT Ventures | Stockholm, Stockholm, Sweden | 11-50 | 2015 | 28 |
| Creandum | Stockholm, Stockholm, Sweden | 11-50 | 2003 | 17 |
| Investinor | Trondheim, Trøndelag, Norway | 11-50 | 2008 | 4 |
| Nordic Capital | Stockholm, Stockholm, Sweden | 201-500 | 1989 | 10 |
| Inventure | Helsinki, Uusimaa, Finland | 11-50 | 2005 | 9 |
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