Pre-seed Fund Investment
Funds Norwegian pre-seed ecosystems through commitments to managers and follow-on private co-investment.
Investinor Pre-seed Fund Investment is an indirect public investment program through which Investinor AS — a state-owned investment company supervised by the Norwegian Ministry of Trade, Industry and Fisheries — makes LP commitments to independent Norwegian pre-seed fund managers. Investinor commits NOK 10 to 50 million per fund, supporting total fund raises targeted at NOK 30 to 150 million. Investinor's ownership stake in any single pre-seed fund is capped at 49 percent, ensuring majority private-sector governance. The fund managers receiving Investinor capital then deploy NOK 1 to 6 million per portfolio company at the pre-seed stage. All terms are pari passu with private co-investors, meaning Investinor does not take preferential economics.
Eligibility for LP commitments is directed at independent Norwegian fund managers — not at start-up companies directly. Qualifying managers must demonstrate a track record of successful company development, proven ability to attract private capital, active ownership experience, and a commitment to ESG principles. The fund's sector mandate is broad: Investinor targets sectors with global competitive advantages, natural resource exploitation potential, innovative technologies, and contributions to mitigating anthropogenic climate change, without imposing specific sector restrictions. All investments are equity or equity-like instruments; no grants are available.
Fund managers seeking an Investinor LP commitment initiate contact through an inquiry form on investinor.no, followed by an initial telephone or videoconference presentation, a detailed review, due diligence, and a final investment decision. Investinor operates offices in Trondheim and Oslo, and also manages regional vehicles including SÃ¥korninvest-Midt Norge AS and Investinor Nord Norge AS for the Mid-Norway and Northern Norway regions respectively. The program is specifically designed to stimulate the formation of new pre-seed funds in Norway rather than to provide capital directly to early-stage companies.
LP commitments of NOK 10–50 million per fund to independent Norwegian pre-seed fund managers, who in turn deploy NOK 1–6 million per portfolio company at the pre-seed stage, pari passu with private co-investors.
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