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The Nordic Web Ventures company logo
Venture Capital
thenordicweb.vc

Investments

15

Portfolio Exits

1

Funds

4

About The Nordic Web Ventures

The Nordic Web Ventures is the venture capital arm of The Nordic Web. The Nordic Web is a research and analysis company that specializes in covering data on tech companies emerging out of the Nordic region.

Headquarters Location

Norway

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Latest The Nordic Web Ventures News

The Nordic Web Ventures raises a second fund and picks up Atomico’s Niklas Zennström as a backer

Mar 1, 2019

The remit of the new “Fund II” is largely unchanged from the first fund, promising to write the first cheque of between $50,000 and $75,000 for the most promising founders in the region. In total, the size of The Nordic Web Ventures’ second fund is $1.5 million, which should see it have enough capital to make another 20 or more investments across the next 18-24 months, making the firm one of the most active investors in the region. Existing portfolio startups from Fund I include Engaging Care, TPH, Uizard , Meeshkan , SafetyWing, Confrere. In addition to an all-star investor line up of Fund I LPs who are returning for a second bite — such as Index’s Martin Mignot, Point Nine’s Christoph Janz, and Philipp Moehring and Andy Chung of AngelList — Fund II sees a number of new LPs join. Most notably, perhaps, Skype and Atomico founder Niklas Zennström has invested, in addition to Atomico partner Sophia Bendz , who was previously an exec at Spotify and is already a very active angel investor in the Nordics and beyond. Revealing that The Nordic Web Ventures plans to raise a much larger fund in the future, Murray tells me the plan for Fund II is to “fundamentally change” the early-stage landscape in one of Europe’s most interesting regions. He says the fund is also a great example of how Europe’s investment landscape is changing, with individuals from major European venture capital firms invested, as well as receiving backing “from some of the Nordic’s most successful entrepreneurs”. Cue a statement from Atomico’s Sophia Bendz: “Neil and I share the same passion for entrepreneurship and both care a lot about the early stage ecosystem… The Nordic Web Ventures can, through their LP networks and expertise, provide dealflow, hands-on support and advice for Nordic pre-seed and seed companies, something that is super helpful for the founders and that’s what it’s all about in the end, being valuable to the entrepreneurs in a meaningful and relevant way”. To that end, I’m also told that having raised Fund II, The Nordic Web publication and The Nordic Web Ventures will merge into a single entity, with The Nordic Web’s core focus moving forward “to support and strengthen the Nordic ecosystem through investment, analysis and community”.

The Nordic Web Ventures Investments

15 Investments

The Nordic Web Ventures has made 15 investments. Their latest investment was in Midio as part of their Pre-Seed on February 13, 2024.

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The Nordic Web Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/13/2024

Pre-Seed

Midio

$0.66M

Yes

CTO Roundtable Invest, Sondo Capital, tiny.vc, and Undisclosed Angel Investors

3

1/31/2024

Seed VC

Yacheng Network

$1.4M

Yes

Futuristic VC, HongShan, PreSeed Ventures, tiny.vc, and Undisclosed Investors

3

11/28/2023

Pre-Seed

Ultihash

$2.5M

Yes

4

10/27/2022

Seed VC

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$99M

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10

10/11/2022

Pre-Seed

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$99M

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10

Date

2/13/2024

1/31/2024

11/28/2023

10/27/2022

10/11/2022

Round

Pre-Seed

Seed VC

Pre-Seed

Seed VC

Pre-Seed

Company

Midio

Yacheng Network

Ultihash

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Amount

$0.66M

$1.4M

$2.5M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

CTO Roundtable Invest, Sondo Capital, tiny.vc, and Undisclosed Angel Investors

Futuristic VC, HongShan, PreSeed Ventures, tiny.vc, and Undisclosed Investors

Sources

3

3

4

10

10

The Nordic Web Ventures Portfolio Exits

1 Portfolio Exit

The Nordic Web Ventures has 1 portfolio exit. Their latest portfolio exit was Confrere on June 07, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/7/2022

Acquired

$99M

1

Date

6/7/2022

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

The Nordic Web Ventures Fund History

4 Fund Histories

The Nordic Web Ventures has 4 funds, including The Nordic Web Ventures Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/1/2019

The Nordic Web Ventures Fund II

$1.51M

2

3/1/2019

The Nordic Web Angel Fund II

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$99M

10

11/27/2017

The Nordic Web Angel Fund

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10

The Nordic Web Ventures Fund I

10

Closing Date

3/1/2019

3/1/2019

11/27/2017

Fund

The Nordic Web Ventures Fund II

The Nordic Web Angel Fund II

The Nordic Web Angel Fund

The Nordic Web Ventures Fund I

Fund Type

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Status

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Amount

$1.51M

$99M

Sources

2

10

10

10

The Nordic Web Ventures Team

4 Team Members

The Nordic Web Ventures has 4 team members, including , .

Name

Work History

Title

Status

Neil S W Murray

Founder

Current

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Name

Neil S W Murray

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Work History

Title

Founder

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Status

Current

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