Discovering and Investing in Sweden’s Hidden Growth Gems

Updated: 13 July 2026, 09:15
Published on: 10 June 2025, 1:20 PM

Maria Smith, leader of the Nordea Startup & Growth specialist team, which supports burgeoning growth companies.

A pressing concern for business angels and investors alike is identifying the most promising growth companies in Sweden. At Nordea Private Banking, the Startup & Growth specialist team plays a pivotal role, assisting over 300 unlisted Swedish tech companies in their quest for expansion. Here’s how they do it.

Sweden’s Tech Landscape: A Goldmine for Investors

Sweden boasts one of the globe’s most robust tech sectors. In fact, when adjusted for population, the country consistently ranks among the top in various international metrics related to the number of multibillion-dollar tech firms and venture capital influx.

In just over a decade, several Swedish firms have transformed from humble beginnings into leaders in their fields. For investors, this trend has translated into soaring returns, often outperforming traditional stock market yields.

However, as many seasoned investors understand, past performance is no predictor of future success. One of the significant challenges for those looking to invest in nascent tech-driven ventures is distinguishing genuine potential from fleeting fads.

The Role of Financing in Accelerating Growth

It’s crucial to recognize that growing startups operate under conditions markedly different from those of established companies. Often, these budding enterprises prioritize growth over immediate profitability, necessitating substantial capital to bridge that gap. Once they establish a sound structure and product offerings, such companies can scale rapidly in the global marketplace.

This is precisely why Nordea Startup & Growth exists—a specialized team within Nordea dedicated to nurturing these growth-oriented businesses.

“We have successfully supported several unicorns in our portfolio, those startups valued at over a billion dollars,” shares Maria Smith, head of the team. “Yet, it remains a challenge for investors to uncover truly promising unlisted companies in their infancy. That’s why we take pride in offering our Private Banking clients unique opportunities to engage with companies at various stages of growth, whether they’re in the pre-seed phase, seed rounds, or scaling up.”

Bridging Ideas and Capital

Smith underscores the importance of understanding the distinctive dynamics of growth companies. Traditional investment metrics, often applied to publicly traded firms, can provide a misleading picture of the performance of unlisted startups. More pertinent indicators might include the longevity of their cash reserves or the speed at which they could pivot towards profitability if necessary.

“These companies represent the future giants of Sweden, and it’s imperative that we invest in them, creating the right conditions for their growth through our expertise and capital opportunities. We actively facilitate connections between these companies and Nordea’s Private Banking clients, as well as other potential investors. Financing through the bank, supplemented by our extensive international networks, is instrumental in this endeavor,” Smith adds.

For many investors, the chance to contribute their skills and expertise alongside financial returns is a driving force behind their interest in technology and growth ventures. To foster these connections, Nordea’s Private Banking and Startup & Growth units have joined forces, enhancing the synergy between investors and entrepreneurs.

Innovative matchmaking events, including digital “speed dating” sessions, allow investors and business angels to meet relevant companies and their founders.

“Relationships are the cornerstone of investment, and we strive to simplify the process for suitable investors to engage with the right companies. This approach ensures that both growth firms and their investors can embark on a rewarding journey together,” Smith explains.

Investment Opportunities: From Half a Million and Beyond

So, who typically steps up to invest in these emerging companies? According to Smith, the Startup & Growth team encounters angel investors across a spectrum of backgrounds, reflecting the diversity within their portfolio companies.

“Most investments start at around 500,000 kronor, but there’s no ceiling. We deal with companies at the very beginning of their journey and those already thriving with billion-dollar valuations. Essentially, anyone interested in investing in exciting unlisted firms is encouraged to reach out to their Private Banking advisor and participate in our events.”

[EXTERNAL LINK: Want to learn more about how Private Banking can assist you as an entrepreneur seeking new investments?]

NORDEA PRIVATE BANKING

Nordea provides a comprehensive solution for asset management, offering personal advice to individuals, businesses, foundations, and institutions. As a client, you’ll gain access to exclusive services, expert insights, a vast network of specialists, and tailored guidance focusing on your unique needs. Please note that to fully benefit from Private Banking services, clients should have investable assets exceeding five million kronor.

Disclaimer: This content is intended for marketing purposes and general information only. It should not be considered personal advice nor as a recommendation from Nordea. Engaging in specific agreements and conditions is necessary to access Nordea Private Banking services.

This article is produced by Brand Studio in collaboration with Nordea Private Banking and does not represent the editorial stance of Dagens industri.