The tree planting industry in the Nordics is crucial for addressing climate change, focusing on sustainable forestry and carbon offset initiatives. Companies involved range from innovative startups to established firms, each contributing to reforestation and afforestation efforts. These organizations offer various services, including tree planting technology, sustainable timber management, and eco-friendly business practices. With increasing awareness of environmental issues, the industry is evolving towards more tech-driven solutions such as drone planting and data analytics for tracking tree growth. This shift not only strengthens ecological initiatives but also creates new economic opportunities within the region’s green economy.


The investors featured in this list represent a range of types, including venture capital and private equity firms based mainly in Sweden, Norway, and Finland. Founded as early as 1845 to as recently as 2023, these investors differ in size, with some managing thousands of employees and others being quite small and specialized. In 2024, these investors collectively engaged in numerous transactions, demonstrating their commitment to funding sustainable ventures within the tree planting sector. Their activities signal a growing emphasis on environmental responsibility in investment decisions across the Nordic landscape.


Top 19 Tree Planting Investors in the Nordics


1. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They specialize in supporting tech startups that tackle global challenges, particularly in climate-tech and ocean-tech sectors. Katapult provides investment, accelerator programs, and mentorship to early-stage companies. Notably, they have participated in several relevant transactions, including Sand to Green, an AgriTech startup focused on sustainable agriculture in Morocco, and InPlanet, which is working on carbon removal through innovative methods. Their recent grants to Coral Vita and Planboo also highlight their commitment to environmental sustainability, making them a significant player in the impact investment space.


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. Almi has been involved in various transactions, including notable investments in the tree planting sector. For instance, it invested in Plantvation, a company focused on tree planting, securing SEK 5.8 million in funding. Additionally, Almi supported Nordic Forestry Automation, which raised $979,591 in a Series A round, further emphasizing its engagement in the forestry industry. Other relevant transactions include investments in Treehotel and Malwa International, showcasing Almi's diverse portfolio while maintaining a focus on sustainability and environmental initiatives.


3. Pale blue dot

  • Website: paleblue.vc
  • Type: Venture Capital
  • Headquarters: Malmo, Skåne, Sweden
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: palebluedot-vc

Pale Blue Dot is a venture capital firm based in Malmo, Skåne, Sweden, founded in 2020. The firm specializes in investing in early-stage startups that focus on climate change solutions, providing both funding and support to visionary founders. Their portfolio emphasizes sustainability and innovation across various industries. Notably, Pale Blue Dot has participated in significant funding rounds for companies like Overstory, which raised a total of $14 million in Series A funding to enhance their vegetation intelligence platform, crucial for managing and planting trees effectively. Additionally, they have invested in Pivotal Future Ltd., a company dedicated to biodiversity measurement, which is essential for understanding and promoting tree planting initiatives. These transactions highlight Pale Blue Dot's commitment to supporting projects that align with environmental sustainability and tree planting efforts.


4. Afry

  • Website: afry.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1895
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: afry

AFRY AB is a consulting and engineering firm based in Stockholm, Sweden, founded in 1895. The company provides a wide range of services, including sustainability consulting, digital solutions, and project management across various industries. Notably, AFRY has made significant strides in the forestry sector, particularly with its acquisition of MosaicMill Oy, which is aimed at becoming a global leader in Smart Forestry digital solutions. This acquisition aligns with their strategy to enhance efficiency and sustainability in forestry practices. Additionally, AFRY has acquired other companies like Vahanen and Numerola Oy, which further bolster their capabilities in providing digital solutions, including those relevant to renewable energy and environmental management. These transactions highlight AFRY's commitment to integrating sustainability into their operations, making them a potential player in the tree planting industry.


5. 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 participated in funding rounds for TreeCard, a UK fintech that integrates tree planting into its business model by using revenue from wooden debit cards to fund tree planting initiatives in partnership with Ecosia. They also invested in Single.Earth, an Estonian startup that aims to create a marketplace for nature-backed MERIT tokens, further demonstrating their interest in environmental sustainability. These transactions highlight EQT Ventures' engagement in projects that contribute to tree planting and ecological initiatives.


6. NordicNinja VC

  • Website: nordicninja.com
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: nordicninja-vc

NordicNinja VC is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in investing in technology startups that focus on sustainability and digital innovation. With a small team of 1-10 members, NordicNinja provides both investment and advisory services to help startups scale their operations. Their portfolio includes companies across various sectors, including mobility, deep tech, and climate technology, primarily located in Northern Europe. Notably, they led a €5.5M seed round for Arbonics, an Estonian GreenTech company that has raised over €7.3M in total, indicating their active role in supporting sustainable initiatives. Additionally, they participated in a Series B funding round for LiveEO, which, while not directly related to tree planting, reflects their engagement in climate technology and sustainability.


7. Walerud Ventures

  • Website: walerud.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2002
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: walerud-ventures

Walerud Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2002. The firm specializes in investing in Nordic deep tech startups that contribute to sustainability and innovation. They actively support their portfolio companies in areas such as green technology, advanced materials, and IoT solutions, providing both funding and strategic guidance to help these businesses thrive. Notably, Walerud Ventures has invested in AirForestry, which raised $9,402,894 in a seed round in October 2024, focusing on tree planting and forestry solutions. They also invested in Paebbl, a carbon storage startup that raised €8 million in a seed round in October 2022, which indirectly supports sustainability efforts. These transactions highlight Walerud Ventures' commitment to fostering companies that contribute to environmental sustainability.


8. 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. Recently, CapMan acquired Dasos Capital Oy, an asset management company focused on sustainable timberland investment, for approximately EUR 41.6 million. This acquisition is expected to enhance CapMan's assets under management by around EUR 630 million and expand its focus into natural capital investments. Additionally, CapMan participated in a venture round for TerraWise, further indicating its engagement in sectors that may intersect with sustainability and environmental initiatives.


9. 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 a Stockholm-based investment company founded in 1936, specializing in venture capital. They partner with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and notably, climate tech. Kinnevik provides both capital and operational support to help these companies scale and create long-term value. Recent transactions highlight their focus on climate-related investments: they participated in Agreena's funding rounds, a fintech firm dedicated to carbon farming, and in Charm Industrial's Series B financing, a company specializing in carbon removal technology. These investments reflect Kinnevik's commitment to redefining industries and addressing pressing global challenges, particularly in the context of climate change and sustainability.


10. Partnerinvest Norr


Partnerinvest Norr is a venture capital firm founded in 2009, based in Sweden, specifically focusing on investments in the regions of Västerbotten and Norrbotten. The firm specializes in supporting scalable business models and driven entrepreneurial teams, providing both capital and strategic support to help businesses grow and expand their market presence. Among their notable transactions, Partnerinvest Norr invested in Treehotel in June 2010, a project that emphasizes eco-tourism and sustainability, which is closely related to tree planting initiatives. They also participated in funding rounds for BioResonator Good Eye in March 2016 and Kloverbergsgarden in December 2011, although these projects are less directly related to tree planting. Overall, Partnerinvest Norr's commitment to supporting environmentally conscious ventures, as evidenced by their investment in Treehotel, positions them as a potential player in the tree planting sector.


11. Nefco - the Nordic Green Bank

  • Website: nefco.int
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1990
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: nefco

Nefco - the Nordic Green Bank is a not-for-profit organization based in Helsinki, Finland, established in 1990. It specializes in financing green projects and sustainable development, primarily targeting Nordic SMEs and municipalities in Eastern Europe. Nefco provides various financial services, including loans and equity funding, to help implement environmentally friendly solutions. In recent years, Nefco has been involved in several transactions that reflect its commitment to supporting green initiatives. For instance, in 2024, Nefco participated in a debt financing round for Mash Makes, raising over $2 million, which could potentially support sustainable practices. Additionally, they were involved in a venture round for GreenStream Network in 2016, raising approximately $4.4 million, and provided a grant of $1.9 million to RDG Collective in 2022. These transactions highlight Nefco's active role in financing projects that contribute to environmental sustainability, which may include tree planting initiatives as part of their broader mission to address climate change challenges.


12. Adelis Equity Partners


Adelis Equity Partners is a private equity firm based in Stockholm, Sweden, founded in 2012. The firm focuses on growing businesses in the Nordic region and provides investment management and strategic consulting services across various sectors, including technology, healthcare, and business services. Notably, Adelis Equity Partners acquired a majority stake in Green Team Group A/S in 2014, a leading European manufacturer and supplier of Christmas trees and decorations. This acquisition highlights their engagement in the tree-related industry, as Green Team Group aims to significantly increase its sales of Christmas trees. This transaction reflects Adelis's strategy of partnering with companies that have growth potential, including those in the tree planting context.


13. Icebreaker.vc

  • Website: icebreaker.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: icebreaker-vc

Icebreaker.vc is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2016. The firm specializes in providing funding and support to idea-stage technology startups, primarily operating in Finland, Estonia, and Sweden. In 2021, Icebreaker.vc participated in a funding round for Single.Earth, an Estonian startup that raised $7.9 million to launch a marketplace for nature-backed MERIT tokens, which is directly related to environmental sustainability. Additionally, they were involved in earlier funding rounds for Single.Earth in 2020 and for Terramonitor in 2017, showcasing their interest in startups that may have implications for environmental and ecological projects. This involvement indicates a potential alignment with tree planting initiatives, even if their primary focus is on technology.


14. Stora Enso

  • Website: storaenso.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: stora-enso

Stora Enso Oyj, founded in 1998 and based in Helsinki, Uusimaa, Finland, is a prominent corporate investor in the forest industry, specializing in renewable materials and products. The company offers a diverse range of solutions, including packaging, biomaterials, and wooden construction, catering to various sectors such as food, consumer goods, and construction. Stora Enso emphasizes sustainability and innovation, aiding its customers in transitioning to eco-friendly alternatives. In recent transactions, Stora Enso participated in funding rounds for companies like Arevo, a biotech firm, and Treetotextile, which focuses on sustainable textile solutions. These investments reflect Stora Enso's commitment to supporting innovative companies that align with their sustainability goals, further reinforcing their relevance in the tree planting context.


15. Seb

  • Website: sebgroup.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1856
  • Headcount: 10001+
  • Number of deals in 2024: 13
  • LinkedIn: seb

Skandinaviska Enskilda Banken AB (SEB) is a leading banking group in Northern Europe, founded in 1856, providing a wide range of financial services including corporate and investment banking, asset management, and private wealth management. SEB serves large corporations, institutional clients, and private individuals, helping them manage their financial assets and navigate investment opportunities. In 2024, SEB participated in a seed round for AirForestry, raising approximately $9.4 million. AirForestry is focused on innovative solutions for tree planting and forestry management, aligning with SEB's interest in supporting sustainable and environmentally friendly initiatives. This transaction highlights SEB's commitment to investing in sectors that contribute to ecological sustainability, including tree planting.


16. Länsförsäkringar Göteborg och Bohuslän


Länsförsäkringar Göteborg och Bohuslän is a corporate investor based in Gothenburg, Västra Götaland, Sweden, founded in 1845. The company operates as an insurance and banking provider, offering a variety of products such as car and home insurance, as well as savings plans for children. They serve individual consumers seeking financial protection and security against unforeseen events through a network of local insurance companies across Sweden. Notably, they participated in a grant transaction with AirForestry, which raised $1,118,585 on July 1, 2021. This investment is significant as it supports initiatives related to tree planting, showcasing Länsförsäkringar's engagement in environmental sustainability efforts.


17. Greencode Ventures

  • Website: greencode.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2023
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: greencode-ventures

Greencode Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2023. The firm focuses on investing in digital-first green transition startups, providing both capital and strategic consulting to help these businesses scale their operations in various sectors, including energy, mobility, and sustainable industries. In 2024, Greencode Ventures has made six investments, reflecting their active role in the green technology space. Notably, they participated in the funding round for Supercritical, one of the world's largest carbon removal marketplaces, which plays a significant role in corporate carbon offsetting and sustainability efforts. This investment highlights Greencode's commitment to supporting innovative solutions that contribute to environmental sustainability, including potential tree planting initiatives.


18. Nordic Waterproofing AB


Nordic Waterproofing AB is a corporate investor based in Sweden, specializing in waterproofing solutions for buildings and infrastructure. Founded in 1904, the company offers a range of products including waterproofing materials, prefabricated elements, and installation services, primarily serving construction companies and property developers. In 2018, Nordic Waterproofing acquired 83% of Veg Tech AB, a company focused on multifunctional vegetation systems for green roofs and other applications. This acquisition enhances Nordic Waterproofing's commitment to sustainable building solutions, indicating a potential interest in environmental initiatives, including tree planting, as part of their broader sustainability strategy.


19. 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, primarily targeting technology-enabled companies. Verdane provides capital and hands-on support to help businesses scale, with a strong focus on digitalization and decarbonization trends. In 2018, Verdane acquired majority stakes in Maskinklippet.se and Hylte Jakt och Lantman, aiming to create a leading Nordic niche e-tailer in forestry, gardening, hunting, and outdoor products. This acquisition highlights their engagement in sectors that are closely related to tree planting and environmental sustainability. Additionally, their investment strategy reflects a commitment to supporting businesses that enhance operational efficiency and market position, which can indirectly benefit tree planting initiatives.



Tree Planting Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
KatapultOslo, Oslo, Norway11-5020178
AlmiStockholm, Stockholm, Sweden201-50019947
Pale blue dotMalmo, Skåne, Sweden1-1020209
AfryStockholm, Stockholm, Sweden10001+18951
EQT VenturesStockholm, Stockholm, Sweden11-50201528
NordicNinja VCHelsinki, Uusimaa, Finland1-1020196
Walerud VenturesStockholm, Stockholm, Sweden1-1020021
CapManHelsinki, Uusimaa, Finland51-20019894
KinnevikStockholm, Stockholm, Sweden11-50193610
Partnerinvest NorrSweden1-1020090
Nefco - the Nordic Green BankHelsinki, Uusimaa, Finland51-20019906
Adelis Equity PartnersStockholm, Stockholm, Sweden11-5020123
Icebreaker.vcHelsinki, Uusimaa, Finland11-5020167
Stora EnsoHelsinki, Uusimaa, Finland10001+19982
SebStockholm, Stockholm, Sweden10001+185613
Länsförsäkringar Göteborg och BohuslänGothenburg, Västra Götaland, Sweden201-50018452
Greencode VenturesHelsinki, Uusimaa, Finland1-1020236
Nordic Waterproofing ABSweden501-100019040
VerdaneOslo, Oslo, Norway51-20019857


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