The population health management industry in the Nordics focuses on improving health outcomes through technology and innovative care solutions. Companies range from startups to established firms specializing in health tech, digital health platforms, and medical devices. Key players work to enhance accessibility, engage patients, and streamline healthcare services across the region. With a shift toward preventive care, the industry is advancing rapidly, driven by digital transformations and a strong emphasis on data analytics. The rise of telemedicine and AI-driven solutions exemplifies the commitment to seamless and efficient patient management, making significant strides toward improving overall public health.


This list features a variety of population health management investors located in the Nordics. Highlighting 17 firms across venture capital and private equity, these investors range in size from small teams to large corporate entities. Most were founded in the late 20th century and are headquartered primarily in Sweden and Denmark. With investment counts in 2024 varying significantly—from as many as 45 deals to none—these investors are strategically positioned to drive innovation in healthcare solutions in a region keen on enhancing patient care.


Top 17 Population Health Management 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 invests primarily in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has been involved in significant transactions within the population health management context, such as leading a $40 million funding round for Qure AI, which focuses on AI-driven healthcare solutions aimed at improving diagnostic accuracy and efficiency. Additionally, they participated in a $17 million funding round for iRhythm Technologies, which develops cardiac monitoring technology that can significantly impact patient management and population health. Their investment in Tempus, a company that leverages data and AI for precision medicine, further underscores their commitment to advancing healthcare solutions that align with population health management objectives.


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 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 through tailored financial solutions and guidance. Almi has been involved in several notable transactions in the health sector, including investments in Nordic Health Innovation, which raised $2 million in 2015, and Curoflow, which secured $995,016 in 2020. Additionally, Almi invested in Grace Health, raising $400,000 in 2019, and Ally, which raised $2,147,742 in 2021. These transactions highlight Almi's engagement in the population health management space, making it a significant player in supporting health-related innovations.


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 private equity 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. In the healthcare domain, EQT has made significant strides with its acquisitions, including Press Ganey, a healthcare performance improvement company, and GeBBS Healthcare Solutions, which focuses on healthcare outsourcing and technology solutions. Additionally, their acquisition of Sagility, a company that enhances healthcare operations, further underscores their commitment to improving healthcare delivery. These investments reflect EQT's strategic interest in population health management, as they aim to optimize healthcare services and outcomes.


4. 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 focus on healthcare and technology. Nordic Capital partners with management teams to drive growth and operational improvements in its portfolio companies, emphasizing sustainable investment opportunities. In recent years, Nordic Capital has made significant investments in the healthcare sector, including the acquisition of Inovalon Holdings, Inc., a leader in data-driven healthcare solutions, for approximately $7.3 billion. This acquisition highlights their commitment to enhancing population health management through innovative healthcare technologies. Additionally, Nordic Capital's minority investment in RLDatix, a provider of healthcare governance, risk, and compliance solutions, further underscores their focus on improving healthcare systems. Their strategic investments reflect a strong emphasis on creating long-term value and sustainability in the healthcare industry.


5. 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 focus on sectors such as SaaS and Fintech, but it has also made notable investments in health technology. For instance, they participated in the Series A funding of Mesh Bio, which raised $3.5 million in October 2023, indicating a commitment to innovative health solutions. Additionally, they invested in OpenTeleHealth, which raised over $1.5 million in 2015, a company that provides telehealth services aimed at improving access to healthcare. These transactions highlight Seed Capital's engagement in the health technology space, aligning with the goals of population health management.


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 these companies scale and create long-term value. Notably, Kinnevik has made significant investments in Babylon, a healthcare technology company focused on providing accessible healthcare services through digital platforms. Kinnevik's involvement in multiple funding rounds for Babylon, including a $230 million post-IPO equity investment and earlier series funding, highlights their commitment to advancing healthcare solutions that can improve population health management. Additionally, Kinnevik participated in a growth round for BIMA, a microinsurance provider, which also plays a role in enhancing healthcare access and affordability, further demonstrating their engagement in the healthcare sector.


7. Add Health Media AB


Add Health Media AB, founded in 1999 and based in Stockholm, Sweden, is a corporate investor specializing in health media. The company operates health information platforms such as DOKTORN.com and Praktisk Medicin, which serve both the general public and healthcare professionals. Their mission is to enhance health knowledge through various digital and print media, as well as educational resources. In recent years, Add Health Media has been involved in several relevant transactions, including Curoflow, which raised $995,016 in a venture round, and Health Integrator, which secured $815,368 in a seed round. Additionally, they participated in funding rounds for Doctrin and ScientificMed, both of which focus on innovative health solutions. These investments reflect Add Health Media's commitment to advancing population health management through technology and information dissemination.


8. 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. 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 Min Doktor, a Swedish health tech company that raised €22.6 million in a Series B round to enhance doctor-patient communications and prescription services. They also participated in funding rounds for Siilo, a secure collaboration app for healthcare professionals, which raised approximately €9.5 million in a Series A funding round. These investments highlight EQT Ventures' engagement in the health tech sector, particularly in solutions that contribute to population health management.


9. Visma

  • Website: visma.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: visma

Visma is a corporate investor based in Oslo, Norway, founded in 1996. It specializes in providing cloud-based accounting, payroll, invoicing, and HR solutions, primarily serving small and medium businesses as well as public sector organizations. In recent years, Visma has expanded its footprint in the healthcare sector through strategic acquisitions aimed at enhancing its offerings in population health management. Notable transactions include the acquisition of Ecare, a specialist in healthcare IT, which aims to improve efficiency and quality in healthcare services, and Medinet, a provider of scheduling solutions in the healthcare sector, which strengthens Visma's workforce management capabilities for healthcare organizations. Additionally, Visma's acquisition of ZilliZ, a service provider specializing in electronic client files for small-scale care providers, further demonstrates its commitment to expanding its presence in the healthcare market. These acquisitions reflect Visma's strategy to leverage technology to improve healthcare delivery and management, making it a relevant player in the population health management space.


10. 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 specializes in 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 technology. Notably, they led a €1.5 million seed round for Noona Healthcare, a digital health startup that focuses on enhancing health management through artificial intelligence and predictive analytics. Additionally, Inventure has invested in Livv Health, which raised over $1.5 million in a pre-seed round in 2024, indicating their ongoing commitment to health-related ventures. Their portfolio also includes multiple investments in Elsa, a company that has raised significant funding in seed rounds, although its specific focus on population health management is less clear. Overall, Inventure's investments reflect a growing interest in the health tech space, particularly in solutions that can impact population health management.


11. 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. The firm 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 made significant investments in the health technology sector, including Dignio, a Norwegian health technology company that raised NOK 85 million in a Series A funding round, with Investinor contributing NOK 20 million. They also invested in Eyr, a Norwegian e-healthcare company, becoming its largest shareholder after contributing nearly half of the capital in a recent funding round. Other relevant investments include Dele Health Tech and Cimon Medical, both of which focus on innovative health solutions. These transactions highlight Investinor's active role in supporting advancements in population health management.


12. 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 investment firm based in Stockholm, Sweden, founded in 1996. The firm specializes in 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 made significant investments in the digital health sector, including a $230 million investment in Babylon, a leading digital health company, in a post-IPO equity round. They also participated in earlier funding rounds for Babylon, including a Series B round where Babylon raised approximately $59.9 million, and a Series C round where Kinnevik AB, alongside VNV Global, invested in a total funding round of up to $500 million. Additionally, VNV Global invested in Grace Health, which raised $2 million in a seed round, and was involved in the Series C funding of BestDoctor, a Russian InsurTech company, indicating their active role in supporting health management solutions.


13. Covidien Finland Oy


Covidien Finland Oy, founded in 2007 and based in Helsinki, Uusimaa, Finland, is a corporate investor and a subsidiary of Medtronic, a leading healthcare technology provider. The company specializes in innovative medical devices and therapies aimed at improving patient care and treatment outcomes. Covidien has been actively involved in several significant acquisitions that enhance its portfolio in the healthcare sector. Notable transactions include the acquisition of Given Imaging for approximately $860 million, which expanded their gastrointestinal solutions business, and BARRX Medical for $325 million, focusing on esophageal disease treatments. These strategic investments reflect Covidien's commitment to advancing healthcare technologies that align with population health management objectives.


14. Novo Nordisk

  • Website: novonordisk.com
  • Type: Corporate
  • Headquarters: Denmark
  • Founded year: 1923
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: novo-nordisk

Novo Nordisk A/S is a leading multinational pharmaceutical company based in Denmark, founded in 1923. The company specializes in diabetes care and treatments for other chronic diseases, developing and manufacturing a range of medications, including semaglutide and various insulin products. Novo Nordisk's commitment to improving patient health is evident through its investments in innovative digital health solutions. Notably, they participated in a Series D financing round for Glooko, a remote patient monitoring company, which aims to enhance organic growth and strategic initiatives in digital health. Additionally, Novo Nordisk invested in Amalgam Rx, a digital health startup that focuses on a digital insulin app for type 2 diabetes patients, further showcasing their dedication to advancing population health management. These strategic investments highlight Novo Nordisk's role in supporting technologies that improve chronic disease management and patient outcomes.


15. Capio

  • Website: capio.com
  • Type: Corporate
  • Headquarters: Gothenburg, Västra Götaland, Sweden
  • Founded year: 1994
  • Headcount: 10001+
  • LinkedIn: capio

Capio is a corporate investor based in Gothenburg, Västra Götaland, Sweden, founded in 1994. As a private healthcare provider, Capio offers a range of services in medicine, surgery, and psychiatry, operating health centers, specialist clinics, and hospitals across Sweden, Norway, Denmark, Germany, and France. Capio is part of Ramsay Générale de Santé, which enhances its capacity to deliver comprehensive healthcare services in Europe. Notable transactions include the acquisition of Movement Medical I Halmstad in 2011, Globen Ögonklinik in 2017, and Legevisitten in 2018, the latter aimed at improving services for elderly patients. These strategic acquisitions reflect Capio's commitment to expanding its healthcare offerings and improving patient care, which is essential in the context of population health management.


16. 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. With a focus on creating long-term value through partnerships with passionate founders, Industrifonden provides both financial support and strategic guidance to startups. Notably, they have invested in NuvoAir, which raised $12 million to expand its digital care platform aimed at decentralized clinical trials, and TrialBee, a technology provider for patient matching in clinical trials, which has raised significant funding to enhance its patient recruitment platform. These investments highlight Industrifonden's commitment to advancing healthcare technologies that are crucial for effective population health management.


17. HealthCap

  • Website: healthcap.eu
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1996
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: healthcap

HealthCap is a venture capital firm based in Stockholm, Sweden, founded in 1996. The firm specializes in the life sciences sector, focusing on innovative companies that develop breakthrough therapies for diseases with high unmet medical needs. HealthCap has been involved in several significant transactions, particularly in the HealthTech space. Notably, they have invested in Doctrin, a medtech startup that raised €13 million in a Series C round, and has previously raised funds in Series A and B rounds. Doctrin aims to enhance healthcare delivery through technology, including the implementation of artificial intelligence in its products, which is crucial for effective population health management. This focus on technology-driven healthcare solutions positions HealthCap as a relevant player in the population health management landscape.



Population Health Management Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
Seed Capital DenmarkFrederiksberg, Frederiksberg, Denmark1-1020045
KinnevikStockholm, Stockholm, Sweden11-50193610
Add Health Media ABStockholm, Stockholm, Sweden11-5019990
EQT VenturesStockholm, Stockholm, Sweden11-50201528
VismaOslo, Oslo, Norway10001+199616
InventureHelsinki, Uusimaa, Finland11-5020059
InvestinorTrondheim, Trøndelag, Norway11-5020084
VNV Global ABStockholm, Stockholm, Sweden1-1019961
Covidien Finland OyHelsinki, Uusimaa, Finland51-20020070
Novo NordiskDenmark10001+19234
CapioGothenburg, Västra Götaland, Sweden10001+19940
IndustrifondenStockholm, Stockholm, Sweden11-5019799
HealthCapStockholm, Stockholm, Sweden11-5019965


Want to find more investors focusing on the population health management industry?

If you want to find more investors that are active in the population health managementindustry, 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!