Led · Equity · Jun 2026

Aplagon is developing APAC, a first-in-class therapeutic that mimics mast cell–derived heparin proteoglycans to localize antithrombotic and anti-inflammatory activity to sites of vascular injury. APAC is intended for in-hospital use and can be administered locally or by IV infusion, with lead clinical programmes targeting prevention of arteriovenous fistula (AVF) maturation failure in end-stage kidney disease and treatment of chronic limb threatening ischemia (CLTI). The company has dosed more than 70 participants to date with no significant safety concerns reported and recently dosed the first patient in its Phase 2a HEALING trial for PAOD/CLTI. Aplagon has filed a CTA with the EMA and is using its recent EUR 4.8 million financing to expand Phase 2 development in Europe for AVF. The company has raised over EUR 20 million to date through equity and non-dilutive funding from Nordic investors. Aplagon is headquartered in Helsinki, Finland.

Led · Series A · May 2026

Evam builds software for blue-light operations used by police, ambulance and rescue services. Its product suite includes in-vehicle decision support and mobile solutions for operational personnel. The company reports deployment in over 100 regions and municipalities across Sweden and the U.K. Evam says its tools form an important part of the alarm chain for emergency services. The firm is focused on broadening its offering and scaling internationally into the global Public Safety market. Evam is headquartered in Stockholm.

Led · Series A · Dec 2025

Fida Biosystems develops analytical instruments based on its proprietary Flow Induced Dispersion Analysis (FIDA) technology, enabling fast and accurate measurement of biomolecules and nanoparticles directly in complex biological samples. The platform helps pharmaceutical and biotech researchers better understand molecular behaviour, ultimately accelerating the creation of new medicines. Commercial traction is growing, with more than 100 instruments sold to industry and leading research institutions. Over the past year the company has doubled its revenue, signalling strong product-market fit. Management plans to leverage this momentum to scale sales and prepare for a forthcoming Series B growth round. The recent capital infusion reinforces the firm’s financial position and supports continued product development and commercial expansion.

Participated · Equity · Oct 2025

Founded in 2020 in Sweden, Saveggy offers a two-ingredient, edible coating made from rapeseed and oat oils that shields produce and prolongs freshness, eliminating the need for single-use polyethylene wraps. The technology is currently being piloted with retailer ICA and grower Odlarna.se, covering about 250,000 cucumbers across 700 Swedish stores. By targeting produce like cucumbers, which account for more than 3,000 tonnes of plastic packaging annually in the EU, the company addresses both food waste and plastic pollution. Early research and development were carried out in collaboration with Lund University, Aarhus University, the European Institute of Technology (EIT) and other value-chain stakeholders. To date, Saveggy has secured €2.5 million from investors including Fåhraeus Startup and Growth, LRF Ventures, Unconventional Ventures, Almi Greentech and Smile Inject Capital. The startup plans to expand its coating to additional produce categories and new geographic markets following the trial. Management is preparing for a larger funding round targeted for 2026 to scale commercial production and distribution.

Led · Seed · Aug 2025

TrackPaw Scientific develops AI-powered monitoring tools that combine machine learning and sensor technology to track animal behaviour and weight in real time, delivering objective, high-resolution data for preclinical studies. The platform aims to improve data consistency, enhance animal welfare, and produce more robust study outcomes across multiple disease areas. Founded in 2022 in Lund, the company has been beta testing with selected pharma partners. It closed a €2.3M seed round co-led by FSG Fund II and Industrifonden, with an additional €0.5M from existing shareholders, to accelerate commercial launch readiness. The funding will support the transition from beta to a commercial launch in the Nordics during the second half of 2026 and scaling to cover all cages inside animal facilities. TrackPaw targets capturing 6% of the global preclinical research market—estimated to reach over €11 billion by 2030—by offering a scalable solution for preclinical monitoring.