# EQT: portfolio, investments and team

> EQT is a private equity based in Sweden. 35 investments on record, 15 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/eqt (Millionrounds; every figure on the page links to its filing or article)

Sweden · [Investor](https://millionrounds.com/investors)

# EQT

Last cheque observed Sep 2026; 35 cheques on record.

Deploying now New fund $155M, Mar 2021 Private equity Now at eqtgroup.com

Seed Series A Series B Lesbian Female Founders Female-founded

Deploying now

**94%** of best year **15** **cheques in 12 months**, 35 on record

Since the last cheque **26** days **00** hrs **00** min **00** sec

Median round **$62M** Rounds led **7 of 35** Mostly in **United States, 23%**

Pitch EQT

## EQT highlights

- 01 15 cheques in the last 12 months
- 02 Mostly Series B and Series A: 58% of its rounds
- 03 Led 7 rounds

## What they do

> Filed 1 private fund offering with the SEC, the most recent in 2017-12 From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Lesbian Female Founders Female-founded
- **Based in:** Stockholm, Sweden
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **35 appearances**

- **2026** 11 rounds
- **Sept** **[Flow Engineering](https://millionrounds.com/company/flow-engineering)** Series B · US · Seedcamp **$50M** With 14 others
- **Sept** **[EUCLYD](https://millionrounds.com/company/euclyd)** Series A · NL · TechStartups **$231M** With 10 others
- **Sept** **[Tandem Health](https://millionrounds.com/company/tandem-health)** Series B · SE · ArcticStartup **$100M** With 5 others
- **Sept** **[Harvey](https://millionrounds.com/company/harvey)** Growth · US · TechCrunch **$550M** With 15 others
- **Sept** **[Neurent Medical](https://millionrounds.com/company/neurent-medical)** Debt · IE · Claret Capital Partners **$29M** With 6 others
- **Sept** **[The Exploration Company](https://millionrounds.com/company/the-exploration-company)** Series C · DE · Firms' own news pages **$450M** With 11 others
- **Sept** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Venture · HK **$700M** With 3 others
- **Sept** **[AstronauTx](https://millionrounds.com/company/astronautx)** Grant · GB **$1.2M** With 2 others
- **Jul** **[Dwelly](https://millionrounds.com/company/dwelly)** Series B · GB · Ventureburn **$170M** *Led*
- **Feb** **[Neara](https://millionrounds.com/company/neara)** Growth · AU · Startup Daily **$63M** With 6 others
- **Feb** **[Kasada](https://millionrounds.com/company/kasada)** Ventureburn **$20M** *Led*
- **2025** 12 rounds
- **Dec** **[Lovable](https://millionrounds.com/company/lovable)** Series B · SE · TechCrunch **$330M** With 17 others
- **Dec** **[Kasada](https://millionrounds.com/company/kasada)** AU · Startup Daily **$20M** With 6 others
- **Dec** **[Harvey](https://millionrounds.com/company/harvey)** Series F · TechCrunch **$160M** With 6 others
- **Nov** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Venture · HK **$200M** With 4 others
- **Oct** **[Harvey](https://millionrounds.com/company/harvey)** Series F · US · TechStartups **$150M** *Led*
- **Sept** **[Nothing](https://millionrounds.com/company/nothing)** Series C · GB · TechCrunch **$200M** With 8 others
- **Jun** **[Mosanna Therapeutics](https://millionrounds.com/company/mosanna-therapeutics)** Series A · CH · Silicon Canals **$80M** With 9 others
- **Apr** **[ReliaQuest](https://millionrounds.com/company/reliaquest)** Growth · US · TechStartups **$500M** *Led*
- **Mar** **[Perfuze](https://millionrounds.com/company/perfuze)** Growth · IE · Seroba Life Sciences **$24M** With 4 others
- **Feb** **[XyloCor Therapeutics](https://millionrounds.com/company/xylocor-therapeutics)** Series B · US · Crunchbase News **$68M** With 2 others
- **Jan** **[TravelPerk](https://millionrounds.com/company/travelperk)** Series E · ES · Silicon Canals **$200M** *Led*
- **Jan** **[Cornerstone Robotics](https://millionrounds.com/company/cornerstone-robotics)** Series C · HK · Alpha JWC Ventures **$70M** *Led*
- **2024** 2 rounds
- **Oct** **[Neara](https://millionrounds.com/company/neara)** Series C · AU · Startup Daily **$45M** *Led*
- **Jun** **[Vico Therapeutics](https://millionrounds.com/company/vico-therapeutics)** Series B · NL · Seroba Life Sciences **$12M** With 12 others
- **2023** 2 rounds
- **Oct** **[AstronauTx](https://millionrounds.com/company/astronautx)** Series A · GB · UCL Technology Fund **$61M** With 7 others
- **Jun** **[Sana Labs](https://millionrounds.com/company/sana-labs)** Series B · SE · New Enterprise Associates **Undisclosed** With 3 others
- **2019** 3 rounds
- **Mar** **[3D Hubs](https://millionrounds.com/company/3d-hubs)** Series C · FinSMEs **$18M** With 5 others
- **Mar** **[Peakon](https://millionrounds.com/company/peakon)** Series B · DK · TechCrunch **$35M** With 4 others
- **Feb** **[Peltarion](https://millionrounds.com/company/peltarion)** Series A · SE · FinSMEs **$20M** With 1 other
- **2018** 4 rounds
- **Dec** **[Acerta](https://millionrounds.com/company/acerta)** CA · FinSMEs **$2.0M** With 2 others
- **Oct** **[HeadSpin](https://millionrounds.com/company/headspin)** Series B · US · FinSMEs **$20M** With 11 others
- **Oct** **[Varjo](https://millionrounds.com/company/varjo)** Series B · TechCrunch **$31M** With 2 others
- **May** **[Peltarion](https://millionrounds.com/company/peltarion)** SE · FinSMEs **$13M** With 1 other
- **2017** 1 round
- **Apr** **[Token](https://millionrounds.com/company/token)** Series A · US · Level39 **$16M** With 2 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **9 named**

AH **Adam Heinz Larsson** Director of the Manager i Filing they signed

EI **EQT IX (General Partner) S.a r.l** General Partner i Filing they signed

EV **EQT VIII (General Partner) S.a r.l.** General Partner i Filing they signed

JH **James Heinz Arrol** Director of the Manager i Filing they signed

JH **Jason Howard** Manager of the Manager i Filing they signed

JS **Joshua Stone** Director of the Manager i Filing they signed

KH **Karl Heinz Horrer** Director of the Manager i Filing they signed

NC **Nicholas Curwen** Director of the Manager i Filing they signed

PH **Peter Heinz Veldman** Director of the Manager i Filing they signed

We also hold **20** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

Who backs their funds

## 3 LPs on record in EQT's funds

- **Committed:** $1.9B
- **Funds:** 7
- **Vintages:** 2018 to 2025

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2026.

- [**California Public Employees' Retirement System (CalPERS)** 3 funds *$1.2B*](https://millionrounds.com/fund/california-public-employees) Fund Vintage Committed EQT Healthcare Growth (No.2) 2025 $115M EQT X (No.2) USD 2022 $500M EQT IX (No.2) USD 2021 $614M
- [**Regents of the University of California** 3 funds *$547M*](https://millionrounds.com/fund/regents-of-the-university-of-california) Fund Vintage Committed EQT X 2022 $200M EQT IX 2020 $200M EQT VIII 2018 $147M
- [**Minnesota State Board of Investments** 1 fund *$100M*](https://millionrounds.com/fund/minnesota-state-board-of-investments) Fund Vintage Committed EQT Infrastructure VI 2024 $100M

## Companies it bought

Acquisitions by the firm itself

**[Dataflow](https://millionrounds.com/company/dataflow)** **Undisclosed** Jul 2014

New fund on file

**$155M**

raised in Mar 2021

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$62M** the round, not its cheque

Led 7 of 35 rounds **20%**

- **Sole investor:** Never alone
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Series B said *10*
- Series A said *5*
- Series C *5*
- Growth said *4*
- Venture *2*
- Seed said *-*
- Pre-IPO said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [EQT Life Sciences](https://millionrounds.com/fund/eqt-life-sciences) 7
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 5
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 3
- [Atomico](https://millionrounds.com/fund/atomico) 3
- [Balderton Capital](https://millionrounds.com/fund/balderton-capital) 3
- [Evantic](https://millionrounds.com/fund/evantic) 3

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## Who they invest alongside

The investors most often in the same rounds as EQT. A count of rooms they were both in, not a relationship either has claimed.

[**EQT Life Sciences** VC firm **7** rounds together](https://millionrounds.com/fund/eqt-life-sciences)[**Sequoia Capital** VC firm **5** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Andreessen Horowitz** VC firm **3** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Atomico** VC firm **3** rounds together](https://millionrounds.com/fund/atomico)[**Balderton Capital** VC firm **3** rounds together](https://millionrounds.com/fund/balderton-capital)[**Evantic** VC firm **3** rounds together](https://millionrounds.com/fund/evantic)[**Kleiner Perkins** VC firm **3** rounds together](https://millionrounds.com/fund/kleiner-perkins)[**Qiming Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/qiming-venture-partners)[**Scaleup Europe Fund** Growth equity **3** rounds together](https://millionrounds.com/fund/scaleup-europe-fund)[**Ten Eleven Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/ten-eleven-ventures)[**BioVenture** VC firm **2** rounds together](https://millionrounds.com/fund/yuanbio-venture-capital)[**Coatue** VC firm **2** rounds together](https://millionrounds.com/fund/coatue-management)

## Recently backed

The latest companies EQT put money into.

[**Flow Engineering** $50M · Sept 2026](https://millionrounds.com/company/flow-engineering)[**EUCLYD** $231M · Sept 2026](https://millionrounds.com/company/euclyd)[**Tandem Health** $100M · Sept 2026](https://millionrounds.com/company/tandem-health)[**Harvey** $550M · Sept 2026](https://millionrounds.com/company/harvey)[**Neurent Medical** $29M · Sept 2026](https://millionrounds.com/company/neurent-medical)[**The Exploration Company** $450M · Sept 2026](https://millionrounds.com/company/the-exploration-company)

## Quick answers about EQT

### What does EQT invest in?

EQT invests most often at Series B and Series A (58% of the rounds on record), in sectors such as Lesbian, Female Founders and Female-founded.

### How active is EQT?

35 investments on record, 15 of them in the last 12 months, and it led 7. The most recent was in Sept 2026.

### What has EQT invested in recently?

Its most recent investments on record: Flow Engineering (Series B, Sept 2026), EUCLYD (Series A, Sept 2026) and Tandem Health (Series B, Sept 2026).

### How big are EQT's cheques?

The median round it joins is $62M.

### Does EQT lead rounds?

Yes: it led 7 of its 35 investments on record (20%).

### Where does EQT invest?

Most of the companies it backs are in the United States (23%), Sweden (16%) and the United Kingdom (13%).

### Is EQT investing now?

Yes: it is actively investing, with 15 investments in the last 12 months.

### Who does EQT invest alongside?

Most often EQT Life Sciences (7 rounds together), Sequoia Capital (5 rounds together) and Andreessen Horowitz (3 rounds together).

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