# Sandwater: portfolio, investments and team

> Sandwater is a vc firm based in Norway. 4 investments on record, 2 in the last 12 months, latest Jul 2026. Portfolio, stages, co-investors and team.

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

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

# Sandwater

Last cheque observed Jul 2026; 4 cheques on record.

Email

VC firm Deploying now

Seed Series A Series B Social Impact Sustainable Development Goals Sdg

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Deploying now

**67%** of best year **2** **cheques in 12 months**, 4 on record

Since the last cheque **126** days **00** hrs **00** min **00** sec

Median round **$27M** Cheque size, as they say **$1.0M – $10M** Rounds led **2 of 4**

Pitch Sandwater

## Sandwater highlights

- 01 2 cheques in the last 12 months
- 02 Mostly Series A and Series B: 100% of its rounds
- 03 Led 2 rounds

## What they do

> Sandwater is a venture capital firm backing early-stage companies that build solutions for the change we need. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $10M as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Social Impact Sustainable Development Goals Sdg
- **Based in:** Oslo, Norway
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **4 appearances**

- **2026** 2 rounds
- **Jul** **[Alva Industries](https://millionrounds.com/company/alva-industries)** NO · Firms' own news pages **$18M** *Led*
- **May** **[Mantle8](https://millionrounds.com/company/mantle8)** Series A · FR · Ventureburn **$36M** *Led*
- **2025** 2 rounds
- **Sept** **[Nofence](https://millionrounds.com/company/nofence)** Series B · NO · European Circular Bioeconomy Fund (ECBF) **$35M** With 7 others
- **Feb** **[Enduro Genetics](https://millionrounds.com/company/enduro-genetics)** Series A · DK · Silicon Canals **$12M** With 4 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

We hold **3** 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.

## The cheque

Seed Series A Series B

Median round joined **$27M** the round, not its cheque

Led 2 of 4 rounds **50%**

- **Said size:** $1.0M – $10M
- **Sole investor:** Never alone
- **Last cheque:** Jul 2026

Rounds by stage said on their site

- Series A said *2*
- Series B said *1*
- Seed said *-*
- Growth said *-*

Cheques by month Led Joined

Dec 2023 Nov 2026

Often in the room with

- [Nysnø](https://millionrounds.com/fund/nysn-climate-investments) 2

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## Who they invest alongside

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

[**Nysnø** VC firm **2** rounds together](https://millionrounds.com/fund/nysn-climate-investments)

## Recently backed

The latest companies Sandwater put money into.

[**Alva Industries** $18M · Jul 2026](https://millionrounds.com/company/alva-industries)[**Mantle8** $36M · May 2026](https://millionrounds.com/company/mantle8)[**Nofence** $35M · Sept 2025](https://millionrounds.com/company/nofence)[**Enduro Genetics** $12M · Feb 2025](https://millionrounds.com/company/enduro-genetics)

## Quick answers about Sandwater

### What does Sandwater invest in?

Sandwater invests most often at Series A and Series B (100% of the rounds on record), in sectors such as Social Impact, Sustainable Development Goals and Sdg.

### How active is Sandwater?

4 investments on record, 2 of them in the last 12 months, and it led 2. The most recent was in Jul 2026.

### What has Sandwater invested in recently?

Its most recent investments on record: Alva Industries (Jul 2026), Mantle8 (Series A, May 2026) and Nofence (Series B, Sept 2025).

### How big are Sandwater's cheques?

The median round it joins is $27M. It says it writes cheques of $1.0M to $10M.

### Is Sandwater investing now?

Yes: it is actively investing, with 2 investments in the last 12 months.

### Who does Sandwater invest alongside?

Most often Nysnø (2 rounds together).

### What kind of investor is Sandwater?

Sandwater is a VC firm based in Oslo, Norway.

### Where does this information on Sandwater come from?

From 4 articles and filings naming it in a round, public registers and its own website, checked and rebuilt every night.

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=sandwater) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=sandwater)