AI Startups in the Nordic Region Gain Traction with Alliance VC's €40 Million Funding
Alliance Venture Capital (Alliance VC), a leading Nordic venture firm, has announced the launch of its newest fund, Alliance Nordic III, with a €40 million first close towards a €100 million target. This fund marks the firm's continued commitment to backing early-stage tech startups in the Nordics, particularly those that leverage Artificial Intelligence (AI) to create tangible, impactful solutions in sectors where Nordic founders excel.
Alliance VC views AI not just as an enabling technology but as a transformative force, turning tools into digital labour and fundamentally shifting value creation. Most startups they invest in will integrate AI centrally, aiming to replace workflows and make a significant impact in business and society.
The focus areas for Alliance Nordic III include AI-powered climate tech, digital health, fintech, and business productivity tools. The firm is keen on backing 25-30 companies, primarily at the pre-seed to Series A stages, with initial investments ranging from €300,000 to €3 million.
Alliance VC's portfolio includes several successful AI-driven startups, such as Sanity, 1X, Superside, Xeneta, and Boost.ai. These companies illustrate the firm's commitment to supporting globally ambitious Nordic startups that can scale from the region's tech hubs to international markets.
One of the key advantages Alliance VC holds is its presence on the ground in all four major Nordic capitals – Stockholm, Oslo, Copenhagen, and Helsinki. This allows the firm to gain local insight and make rapid decisions through a partner-led approach, ensuring that founders meet decision-makers from day one.
The support for Alliance Nordic III comes from a strong group of Limited Partners, including Saminvest, KLP, Investinor, Smedvig, and Telenor. These highly respected investors in the Nordic region underscore confidence in Alliance VC's investment strategy.
The six general partners at Alliance VC have over 15 years of experience each within their local startup ecosystems. Their mission is to empower visionary teams to scale globally and lead the next era of innovation.
Alliance VC started investing in AI-driven startups before AI became mainstream, and they remain committed to this revolution. With the new fund, Alliance Nordic III, they aim to back even more breakout companies and fuel a new generation of Nordic tech companies with global ambitions.
Investing in AI-driven startups is a core focus for Alliance VC, with a keen interest in fintech, digital health, climate tech, and business productivity tools. The firm intends to leverage technology and its transformative potential to back 25-30 early-stage tech startups, with initial investments of up to €3 million, aiming to drive value creation and impact both locally and internationally.
