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The Venture Codex

EQT

Regeringsgatan 25, Stockholm, Stockholms Lan, SE-111 53, Sweden

Overview

EQT is a private equity firm. They invest in companies and regions where there is an industrial approach. Their investment strategies include private capital, assets, credit, and public value, guided by an ownership approach and an industrial growth strategy.

Total investments
43
Lead investments
22
Investments · 12mo
15
Active investors
19

Sector focus

  • Banking
  • Business Development
  • Finance
  • Financial Services
  • Internet
  • Venture Capital
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Investment portfolio

  • Starcloud (Lumen Orbit)

    Participated · Series A · Aug 2026

    Starcloud is building a network of data centers in space, starting at kilowatts and scaling to gigawatt capacity. Falling launch costs allow us to take advantage of the abundant energy, radiative cooling techniques, and ability to rapidly scale in space. Join our team, push the boundaries of the space economy, and be part of this pioneering effort to redefine the future of energy.

  • Fly.io

    Participated · Series D · Aug 2026

    Fly.io builds connected infrastructure intended to run AI agents and the applications they generate, offering real computers with durable disk drives, secure connectivity to other systems, and the ability to scale to millions of instances. The company is led by CEO Scott Johnston and is headquartered in San Francisco, CA. Fly.io serves over 37,000 customers, including more than 8,000 agent-native organizations. With the new Series D funding, Fly.io plans to accelerate its position in providing computers for agents as enterprises increasingly deploy production agentic AI applications. The company emphasizes durable storage, secure system connectivity, and high scalability as core capabilities for production workloads.

  • Dwelly

    Led · Series B · Jul 2026

    Dwelly acquires independent UK letting agencies and migrates their operations onto an AI-first platform that handles tenant inquiries, onboarding, rent collection, maintenance, and compliance, reserving staff intervention for judgment calls. The company manages 15,000 properties with a £350 million rent roll and says its automation increases a property manager’s capacity to over 300 units from about 100 previously. Founded in 2023 by Ilya Drozdov, Dan Lifshits, and Dmitry Khanukov—who previously built and sold a 10,000-property rental business—Dwelly combined acquisitions with mandatory automation from the outset. Its operating model distinguishes it from software-only proptech and traditional roll-ups by owning agencies and enforcing platform-driven workflows. Dwelly plans product expansions including financial products for landlords and tenants and aims to scale into some European markets while increasing headcount substantially this year.

  • Odyssey

    Participated · Series B · Jun 2026

    Founded in 2023 by self-driving veterans Oliver Cameron (CEO) and Jeff Hawke (CTO), Odyssey develops world models that gather and simulate physical-world data for applications across video, robotics and gaming. The company has produced a handful of models and is noted for generating rich, interactive video from text prompts. Its data-collection approach involved sending people with cameras to capture environments, mirroring techniques used by mapping products. After its latest financing Amazon became a strategic cloud partner and Odyssey plans to optimize its models for AWS Trainium chips. Financially, Odyssey raised $310 million in a Series B at a $1.45 billion valuation and has raised $337 million in total to date.

  • Pam Medical

    Participated · Series D · Apr 2026

    Pulnovo Medical develops a Pulmonary Artery Denervation (PADN) system, a minimally invasive interventional therapy targeting over‑activated sympathetic nerve activity implicated in pulmonary vascular remodeling and cardiopulmonary disease progression. Multiple global studies and inclusion in international guidelines (including the 2022 ESC/ERS Guidelines) support PADN’s clinical benefits in improving functional capacity and reducing major adverse events. The company reports approximately 1,500 PADN procedures performed globally and regulatory approvals in seven countries, while actively promoting commercialization in the EU, Middle East, and China. In the U.S., Pulnovo has received FDA Breakthrough Device Designation and launched two fully approved IDE clinical trials led by Professor Gregg Stone. Pulnovo is pursuing further clinical evidence (including the PULSE‑LHD IDE trial) and is expanding its global clinical, regulatory, and commercial footprint, including a commercial cooperation agreement with Medtronic. The recent financing will fund continued clinical R&D, global regulatory filings, international commercialization, and investment in the core technology platform.

Team

  • Caspar Callerstrom

    Deputy CEO

    LinkedIn
  • Nils Petter Nygaard

  • Lennart Blecher

    Partner, Deputy Managing Partner and Head of EQT Infrastructure

    LinkedIn
  • Fabian Grone

    Partner, Head of Asia

    LinkedIn