# PE firms based in Norway (2026 list) > 66 PE firms based in Norway, 9% active in the last 12 months. Led by Verdane, Hadean Ventures, EnvisionTech. Ranked by what they funded. Source: https://millionrounds.com/lists/pe-firms-based-in-norway (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # PE firms based in Norway Updated 7 November 2026 PE firms headquartered in Norway. [See all 66 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-norway)The top 25 **66** investors on the list No change this week **16** cheques in 12 months Too few cheques to tell **$22M** median round they joined *+170%* against the market median **9%** wrote a cheque in 12 months **8%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (6) - 1 [Verdane](https://millionrounds.com/fund/verdane) *Deploying now* Private equity · Norway **36** **$19M** median round **Oct 2026** last seen - 2 [Hadean Ventures](https://millionrounds.com/fund/hadean-ventures) *Deploying now* Private equity · Norway **11** **$26M** median round **Sept 2026** last seen - 3 [EnvisionTech](https://millionrounds.com/fund/envisiontech) *Deploying now* Private equity · Norway **4** **$22M** median round **Jul 2026** last seen - 4 [Fjord Invest](https://millionrounds.com/fund/fjord-invest-management-as) quiet Private equity · Norway **4** **$12M** median round **Aug 2011** last seen - 5 [Norvestor Equity](https://millionrounds.com/fund/norvestor-equity) quiet Private equity · Norway **3** **$11M** median round **Nov 2015** last seen - 6 [Scatec AS](https://millionrounds.com/fund/scatec-as) quiet Private equity · Norway **3** **$28M** median round **Mar 2009** last seen - 7 [Aker ASA](https://millionrounds.com/fund/aker-asa) *Deploying now* Growth equity · Norway **2** **$1.6B** median round **Mar 2026** last seen - 8 [Claypond](https://millionrounds.com/fund/claypond) *Deploying now* Growth equity · Norway **1** **$130M** median round **Jul 2026** last seen - 9 [Development Fund](https://millionrounds.com/fund/development-fund) quiet Growth equity · Norway **1** **$38M** median round **Mar 2004** last seen - 10 [FENRIR](https://millionrounds.com/fund/fenrir) quiet Growth equity · Norway **1** **$93M** median round **Jun 2018** last seen - 11 [Glastad Invest](https://millionrounds.com/fund/glastad) quiet Private equity · Norway **1** **$7M** median round **Nov 2007** last seen - 12 [HAVN Capital](https://millionrounds.com/fund/havn-capital) *Deploying now* Private equity · Norway **1** **-** median round **Jan 2026** last seen - 13 [HitecVision](https://millionrounds.com/fund/hitecvision) quiet Private equity · Norway **1** **$13M** median round **Sept 2004** last seen - 14 [Reiten & Co](https://millionrounds.com/fund/reiten-and-co) quiet Private equity · Norway **1** **-** median round **Apr 2011** last seen - 15 [Software Innovation](https://millionrounds.com/fund/software-innovation) quiet Growth equity · Norway **1** **$8.7M** median round **Apr 2005** last seen - 16 [Aeternum Capital AS](https://millionrounds.com/fund/aeternum-capital-as) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 17 [Amp Eleven](https://millionrounds.com/fund/amp-eleven) unknown Growth equity · Norway **none observed** **-** median round **-** last seen - 18 [Axio](https://millionrounds.com/fund/axio-2) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 19 [Axxelerator Capital AS](https://millionrounds.com/fund/axxelerator-capital-as) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 20 [BA Group](https://millionrounds.com/fund/ba-group) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 21 [Broodstock Capital](https://millionrounds.com/fund/broodstock-capital) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 22 [Cinclus Equity Partner AS](https://millionrounds.com/fund/cinclus-equity-partner-as) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 23 [Connect Vest](https://millionrounds.com/fund/connect-vest) unknown Private equity · Norway **none observed** **-** median round **-** last seen - 24 [Core Eqty](https://millionrounds.com/fund/core-eqty) unknown Growth equity · Norway **none observed** **-** median round **-** last seen - 25 [Credo Partners](https://millionrounds.com/fund/credo-partners-2) unknown Private equity · Norway **none observed** **-** median round **-** last seen **41 more on this list** All 66 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fpe-firms-based-in-norway) ## The Newest Cheques Rounds this list's investors joined most recently - **13** Oct **[Yazen Health](https://millionrounds.com/company/yazen-health)** Growth · $56M *Led by* [Verdane](https://millionrounds.com/fund/verdane) - **24** Sept **[Kasvu Therapeutics](https://millionrounds.com/company/kasvu-therapeutics)** Series A · $34M *Led by* [Hadean Ventures](https://millionrounds.com/fund/hadean-ventures) - **1** Sept **[Xpansiv](https://millionrounds.com/company/xpansiv)** Growth · $125M *With* [Verdane](https://millionrounds.com/fund/verdane) - **6** Aug **[Factbird](https://millionrounds.com/company/factbird)** Growth · $16M *Led by* [Verdane](https://millionrounds.com/fund/verdane) - **15** Jul **[Emergent](https://millionrounds.com/company/emergent)** Series C · $130M *With* [Claypond](https://millionrounds.com/fund/claypond) - **2** Jul **[Alva Industries](https://millionrounds.com/company/alva-industries)** $18M *With* [EnvisionTech](https://millionrounds.com/fund/envisiontech) ## Stages This Year 16 rounds - Venture **38%** - Growth **19%** - Other **13%** - Series A **13%** - Series C **13%** - Other **6%** ## What They Backed Sectors, last 12 months - Healthcare **4** - AI **3** - Software **2** - Biotech **2** - Big Data & Analytics **2** - Consumer Apps **1** ## Cheques by Quarter Led Joined 1 Q1 25 2 Q2 25 3 Q3 25 2 Q4 25 5 Q1 26 Q2 26 9 Q3 26 1 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms based in United States 25,936](https://millionrounds.com/lists/vc-firms-based-in-united-states) - [PE firms based in United States 19,904](https://millionrounds.com/lists/pe-firms-based-in-united-states) - [VC firms based in United Kingdom 2,451](https://millionrounds.com/lists/vc-firms-based-in-united-kingdom) - [VC firms based in China 1,473](https://millionrounds.com/lists/vc-firms-based-in-china) - [VC firms based in India 1,309](https://millionrounds.com/lists/vc-firms-based-in-india) - [VC firms based in Canada 1,211](https://millionrounds.com/lists/vc-firms-based-in-canada) - [VC firms based in Germany 1,186](https://millionrounds.com/lists/vc-firms-based-in-germany) - [PE firms based in United Kingdom 974](https://millionrounds.com/lists/pe-firms-based-in-united-kingdom) - [Incubators and accelerators based in United States 828](https://millionrounds.com/lists/incubators-accelerators-based-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about PE firms based in Norway ### Who are the most active PE firms based in Norway? By cheques observed, the most active are Verdane, Hadean Ventures, EnvisionTech, Fjord Invest and Norvestor Equity. ### How many PE firms based in Norway are there? 66 are on record. 9% made an investment in the last 12 months and 8% have led a round. ### Which stages do PE firms based in Norway back? Of the rounds with a named stage in the last 12 months, mostly Growth (43%) and Series A (29%). ### How big are the rounds PE firms based in Norway join? The typical (median) round among the leading investors here is $22M. ### Which sectors do PE firms based in Norway back most? In the last 12 months, mostly Healthcare, AI and Software. ### Which PE firms based in Norway lead the most rounds? Hadean Ventures (8 led), Verdane (3 led) and EnvisionTech (2 led). ### What have PE firms based in Norway invested in recently? Recent rounds include Yazen Health (Growth, Oct 2026, with Verdane), Kasvu Therapeutics (Series A, Sept 2026, with Hadean Ventures) and Xpansiv (Growth, Sept 2026, with Verdane). ### How is this list of PE firms based in Norway ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)