Direct Equity Investments

Direct Equity Investments

Invests directly in Norwegian technology companies from early to expansion stages through state-backed partnerships.

Investinor AS is a state-owned Norwegian investment company under the Ministry of Trade, Industry and Fisheries, managing approximately NOK 8 billion in assets and responsible for roughly one-third of all venture capital invested in Norway over the past decade. Its direct equity program covers three stages — seed, venture, and expansion — under a single rolling inquiry channel. Seed investments target companies with minimum viable products and initial revenues; venture investments address growth-phase companies raising Series A and B rounds; expansion investments support businesses with reduced market and product risk that are seeking scale capital. All stages are served through the same contact process at investinor.no.

Ticket sizes and deal terms are negotiated case-by-case and are not published publicly. Investinor operates from offices in Oslo and Trondheim and maintains two regional subsidiaries: Såkorninvest-Midt Norge AS for Mid-Norway and Investinor Nord Norge AS for Northern Norway. The portfolio spans approximately 79 active companies, with co-investors providing roughly NOK 27 billion in parallel capital alongside Investinor's own commitments. Sectors of focus include technology companies with global competitive advantages, natural resource exploitation potential, innovative technology, and climate-change mitigation.

Applicants approach Investinor directly through the online inquiry form on investinor.no; there is no open competitive call or fixed deadline cadence. The instrument is pure equity — not a grant or loan — and Investinor does not take controlling stakes as a matter of practice. Because ticket sizes and full eligibility criteria require direct engagement, founders at seed stage and beyond with a Norwegian registration and operational footprint represent the primary applicant profile.