What SNÖ Ventures does

SNÖ Ventures is a Nordic-focused venture capital firm headquartered in Oslo, Norway, founded in 2016. It invests early-stage capital in technology companies across the Nordic region, with a portfolio spanning AI/machine learning, gaming, blockchain, healthcare technology, and enterprise software. Notable portfolio companies include Sky Mavis (Axie Infinity), PortalOne, Speechly (a Y Combinator alumnus), Take Take Take, Nolla Health, and Kitemaker. The firm explicitly positions itself as providing "global access and local support," and syndicates consistently with top-tier global investors including a16z, Accel, Tiger Global, Founders Fund, Coatue, Temasek, General Catalyst, Paradigm, and Y Combinator, alongside prominent individual angels such as Peter Thiel, Yuri Milner, and Jim Breyer.

The firm operates through a structured multi-entity architecture registered with the Norwegian Financial Supervisory Authority as a sub-threshold Alternative Investment Fund Manager: SNÖ Ventures AS (the Manager, org. 816 697 832), SNÖ Ventures II AS (the Adviser for SNÖ Fund II General Partner L.P., org. 925 882 216), and SNÖ True North AS (the Fund entity, org. 820 953 452). Leadership comprises Founding Managing Partner Magne Uppman, Founding Partner Teodor Bjerrang, and Principal Kremena Tosheva. The firm maintains compliance with the EU Sustainable Finance Disclosure Regulation (SFDR) and GDPR. Headcount is reported in the 1–10 range.

SNÖ's business model follows standard early-stage venture economics: it raises capital from limited partners into dedicated funds, charges management fees on committed or invested capital, and earns carried interest on realizations. Revenue, AUM, fund size, and TVPI are not publicly disclosed. Deal flow is sourced through Nordic networks, referrals, and the firm's ecosystem position, rather than through traditional outbound sales channels, consistent with the venture capital business model.

Name

SNÖ Ventures

Legal name

SNÖ Ventures AS

Website

http://www.sno.vc

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

SNÖ Ventures is a Nordic-focused early-stage venture capital firm founded in 2016 and headquartered in Oslo, Norway, that backs technology startups across AI, gaming, blockchain, healthcare, and enterprise software, syndicating rounds with top-tier global investors.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)

Keywords

• Venture capital
• Early-stage investing
• Nordic tech startups
• Fund management
• Seed funding

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Core offering

SNÖ Ventures is a venture capital firm that invests capital and provides strategic support to early-stage technology companies in the Nordic region. The firm manages investment funds through its Manager (SNÖ Ventures AS), Adviser (SNÖ Ventures II AS), and Fund (SNÖ True North AS) entities and co-invests alongside prominent global investors in sectors including AI, gaming, blockchain, healthcare, and enterprise software.

Product overview

SNÖ Ventures is a Nordic-focused venture capital firm that provides capital investment and strategic support to early-stage technology companies in the Nordic region. The firm does not offer its own products or services to external customers; rather, it invests in a portfolio of startup companies across various sectors including AI/machine learning, gaming, blockchain, healthcare technology, and enterprise software. The portfolio includes companies such as Aris Machina (AI-powered manufacturing), Nolla Health (AI healthcare), Take Take Take (chess platform), Nordic Air Defence (drone defense), PortalOne (hybrid gaming), Churney (causal ML), Ignite (spend analytics), Spring (Web3 private market), Sky Mavis/Axie Infinity (blockchain gaming), Timely (time tracking), Sidepilot (fitness management), Be Your Best (cognitive training), Breyta (qualitative research AI), Inzpire.me (influencer marketing), Speechly (speech processing), Confrere (video conferencing), and Kitemaker (product development tools).

Differentiator

Problem solved

Functional benefit

Products and services

• SNÖ True North Fund

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves6 records

Expansion highlights4 records

Direct peers

• Atomico: London-based VC founded by Skype's Niklas Zennström with a strong Nordic/European tech focus. Comparable stage range and thematic exposure, though typically writing larger checks than SNÖ.
• Seedcamp: London-based seed-stage VC with broad European coverage. Comparable as a co-investor in SNÖ portfolio (PortalOne, Speechly) and in targeting technical founders at the earliest stages.
• Creandum: Leading early-stage Nordic VC backing tech founders from seed through Series A. Directly comparable geographic mandate, stage focus, and check-size range to SNÖ.
• byFounders: Nordic-focused early-stage VC founded by successful Nordic operators. Closely comparable geographic focus and seed-stage mandate, with a similar profile of tier-1 global co-investors.
• Antler: Global early-stage VC and founder generator with substantial Nordic presence. Comparable as a co-investor in SNÖ portfolio (Breyta, Economic Mind) and in targeting very early-stage Nordic founders.
• Cherry Ventures: European early-stage VC founded by ex-Founders Fund team. Comparable stage and mandate, and overlapping as a co-investor with SNÖ in portfolio company Speechly.
• Northzone: Pan-Nordic venture capital firm investing across seed to growth stages in tech-enabled companies. Most directly comparable to SNÖ in geographic focus, stage, and target founder profile, though operating at materially larger fund sizes.
• Point Nine Capital: Berlin-based seed-stage VC investing across Europe with strong Nordic exposure. Comparable as a co-investor in SNÖ portfolio (Confrere) and in stage focus on B2B SaaS and marketplaces.

Emerging players

• Speedinvest: European early-stage VC with sector-focused funds (deep tech, fintech, health). Comparable in stage and check size, with broader European reach than SNÖ's Nordic mandate.

Broad incumbents

• EQT Ventures: Major European VC arm of EQT with deep Nordic roots and ability to write large checks from seed to growth. Comparable as a co-investor in SNÖ portfolio companies (e.g., Kitemaker) and as a Nordic ecosystem incumbent.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/sno_vc
• LinkedInlinkedin.com/company/snovc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments40 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SNÖ Ventures