The journalistic photography industry in the Nordics focuses on storytelling through images, capturing real-time events and experiences to inform the public. Companies in this sector range from mobile photography platforms to vintage photo archives, all striving to maintain the integrity of their craft while adapting to a digital-first approach. As technology shapes communication, the demand for authentic visual content is growing, leading to an increase in innovative solutions such as photography apps and community-driven platforms. This trend signals a promising future where the role of visual media becomes even more significant in journalism and beyond.

This list of investors includes venture capital firms, corporate giants, and private equity players, each contributing uniquely to the photography market. Headquartered in Finland, Sweden, Denmark, and Iceland, these firms generally range from small startups to larger entities, with 2024 investments highlighting their varied focuses. Most investors are relatively young, established mostly in the last couple of decades. In 2024 alone, they collectively engaged in multiple investments, demonstrating a keen interest in enhancing the journalistic photography landscape across the Nordics.

Top 7 Journalistic Photography Investors in the Nordics

1. 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, focusing on empowering founders in the data economy by providing capital and expertise to help scale innovative solutions. OpenOcean has been involved in several notable transactions, including investments in EyeEm, a photography platform that raised $6 million in Series A funding in 2013 and $18 million in Series B funding in 2015. These investments highlight OpenOcean's engagement in the photography sector, particularly in technology that supports photo marketplaces and enhances the photography experience.

2. Brunnur Ventures

• Website: brunnurventures.com
• Type: Venture Capital
• Headquarters: Reykjavík, Reykjavíkurborg, Iceland
• Founded year: 2014
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: brunnur

Brunnur Ventures is a venture capital firm based in Reykjavík, Iceland, founded in 2014. The firm specializes in investing in early-stage startups and growth companies, providing not only capital but also mentorship and access to valuable networks to help entrepreneurs overcome business challenges. While their primary focus spans various industries, including biotech and fintech, they have also made notable investments in the photography sector, such as their seed round investment of $1,300,000 in IMS Vintage Photos on April 1, 2019. This investment highlights their engagement in the photography industry, particularly in the context of vintage and journalistic photography, showcasing their diverse investment portfolio.

3. Elanders

• Website: elanders.com
• Type: Corporate
• Headquarters: Gothenburg, Västra Götaland, Sweden
• Founded year: 1908
• Headcount: 5001-10000
• Number of deals in 2024: 2
• LinkedIn: elanders

Elanders is a corporate investor based in Gothenburg, Västra Götaland, Sweden, founded in 1908. The company specializes in logistics and printing, offering integrated solutions within supply chain management across various industries, including Automotive, Electronics, and Health Care. Notably, Elanders has made significant strides in the photography sector through its acquisitions of Myphotobook, a German company known for personalized photo products, and fotokasten, which also focuses on photo-related services. These acquisitions, particularly Myphotobook, position Elanders as a leading player in the European market for photo books, enhancing its portfolio in the photography domain and indicating a strategic interest in this area.

4. Adelis Equity Partners

• Website: adelisequity.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: 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. One of their notable transactions includes the acquisition of Pixelz, a Danish PaaS company that specializes in photo retouching services for e-commerce, announced on December 12, 2021. This acquisition highlights Adelis's engagement in the photography sector, particularly in services that enhance visual content, which can be relevant to journalistic photography. Through their expertise and partnerships, Adelis aims to help companies achieve significant growth, potentially benefiting businesses in the photography industry as well.

5. Conor Venture Partners

• Website: conor.vc
• Type: Venture Capital
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 2005
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: conor-venture-partners

Conor Venture Partners is a venture capital firm based in Espoo, Uusimaa, Finland, founded in 2005. The firm specializes in investing in early-stage technology companies, focusing on sectors such as ICT, electronics, embedded systems, and new materials & optics. Conor provides strategic guidance and financial support to help these companies grow and succeed in global markets. One of their notable transactions includes a $3.9 million Series A investment in Scoopshot, a platform that enables users to capture and share photos and videos for news outlets. This investment highlights Conor's engagement in the photography space, particularly in areas that support journalistic endeavors through innovative technology.

6. 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. One notable transaction is their investment in Foap AB, a Swedish mobile photography startup, which raised $1.5 million in funding to support growth and expansion into the US market. This investment highlights Industrifonden's engagement in the photography sector, showcasing their willingness to support innovative companies in this space, even as they primarily focus on other technology sectors.

7. Founderment

• Website: founderment.dk
• Type: Venture Capital
• Headquarters: Aarhus, Denmark
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: founderment

Founderment is a venture capital firm based in Aarhus, Denmark, founded in 2021. The firm specializes in early-stage investments in technology startups, particularly in the retailtech and traveltech sectors. Founderment aims to support visionary entrepreneurs by providing capital, mentorship, and access to a community of expertise. In 2023, they participated in a seed investment round for Wedio, a Danish start-up and camera-sharing community, contributing to a total of €1.25 million raised. This investment highlights their engagement in the photography sector, showcasing their willingness to support innovative solutions that enhance the photography experience, particularly in a community-driven context.

Journalistic Photography Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
OpenOcean	Helsinki, Uusimaa, Finland	11-50	2009	7
Brunnur Ventures	Reykjavík, Reykjavíkurborg, Iceland	1-10	2014	2
Elanders	Gothenburg, Västra Götaland, Sweden	5001-10000	1908	2
Adelis Equity Partners	Stockholm, Stockholm, Sweden	11-50	2012	3
Conor Venture Partners	Espoo, Uusimaa, Finland	1-10	2005	1
Industrifonden	Stockholm, Stockholm, Sweden	11-50	1979	9
Founderment	Aarhus, Denmark	1-10	2021	5

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