About seed funds

Who can receive financing from a seed fund?

The funds shall invest in early-phase companies that would normally encounter difficulties in obtaining funding from the equity markets.

The funds invest in companies that are

• in the early phase, offering products and/or services with high levels of innovation and global growth potential.
• younger that five years old from their date of registration in the Norwegian Register of Business Enterprises when they receive their initial investment from the seed funds.
• small (by definition, less than 50 employees), and/or have a financial balance of less than EUR 10 million. The companies must be entirely independent of larger corporate concerns.

Individual seed funds are dedicated to specific sectors and will thus select companies that naturally fall within their areas of focus. The seed funds shall not invest in shipbuilding, the coal or steel industries, in financial enterprises or enterprises exclusively involved in the property sector.

What can be funded?

A seed fund will commonly operate with a longer-term perspective and will be willing to take greater risks than other financing instruments. A seed fund may thus invest in a company that is currently in the concept phase, or before a company has achieved sales and it is established that its technology will work.

The seed funds operate as private sector investment companies and are managed on a commercial basis under contract from Investinor and the Norwegian Ministry of Trade, Industry and Fisheries. The aim is that state investment shall contribute towards releasing more long-term and competent capital to ambitious and innovative companies. As active owners, the funds contribute via seats on company Boards by providing expertise, experience and access to networks.

How do I apply?

Each fund carries out an assessment of its potential portfolio companies. Management of the various seed funds is conducted on a commercial basis. Since seed funds are free to select their investment objects, each fund must be contacted in order to assess the relevant business concepts and products.