DNB Bank

DNB Bank is a prominent Norwegian financial services group headquartered in Oslo, offering a comprehensive range of financial products and services to both retail and corporate customers. Established in 1822, DNB provides loans, savings accounts, advisory services, insurance, and pension products. The bank's personal banking offerings include various savings and investment options. For corporate clients, DNB delivers investment banking services that encompass financial and strategic advice related to capital raising, mergers and acquisitions, and restructurings. Its clientele spans multiple sectors, including energy, manufacturing, healthcare, shipping, and technology. DNB distributes its services through various channels, including mobile and online banking, bank offices, and in-store outlets, ensuring accessibility for its diverse customer base.

Sven Gustav Bakken

Managing Director, Capital Markets

Thor Tellefsen

Senior Vice President and Head of Long Term Funding

Past deals in Nordic Europe

Kvist Solutions

Seed Round in 2025
Kvist Solutions AS is a software development company based in Oslo, Norway, that focuses on simplifying the BREEAM certification process for buildings. The company offers a digital documentation platform that provides a comprehensive overview of projects, allowing users to track progress and status throughout the certification journey. By facilitating effective environmental management, Kvist Solutions enables individuals and businesses to contribute to sustainability efforts. The platform also allows auditors to assess documentation readiness and set deadlines, ensuring a more organized and efficient certification process. Kvist Solutions is committed to empowering users to make informed, sustainable choices, reflecting its dedication to environmental responsibility. The company operates with a team of 15 employees within the internet industry.

Veidekke

Post in 2025
Veidekke ASA is a prominent construction and property development firm based in Scandinavia. The company engages in a wide range of activities, including the construction of residential and non-residential buildings, civil engineering projects, and infrastructure developments. It operates through six segments: Construction Norway, which focuses on apartment complexes and commercial buildings; Infrastructure Norway, covering road maintenance, railways, and airports; Construction Sweden, which involves residential units, offices, and cultural institutions; Infrastructure Sweden, focusing on energy, heavy industry, and recycling facilities; and operations in Denmark. Veidekke is committed to delivering high-quality construction services while emphasizing sustainability and innovation in its projects.

Borregaard ASA

Post in 2024
Borregaard ASA is a Norwegian company that develops, produces, and sells biomaterials, biochemicals, and fine chemicals, with operations in Europe, the United States, and Asia. The company is organized into three segments: BioSolutions, BioMaterials, and Fine Chemicals. The BioSolutions segment specializes in biopolymers used as binding and dispersing agents across various industries, including construction and agrochemicals, and also produces biovanillin for the food and beverage sector. The BioMaterials segment offers specialty cellulose, which serves as a raw material in the manufacturing of cellulose ethers and other specialty products, as well as cellulose fibrils for industrial applications. The Fine Chemicals segment provides pharmaceutical intermediates and bioethanol. Borregaard ASA operates green biorefineries, focusing on environmentally friendly biochemicals derived from renewable resources, thereby offering sustainable alternatives to oil-based products. Established in 2012, the company is headquartered in Sarpsborg, Norway.

Carnegie Investment Bank

Acquisition in 2024
Carnegie Investment Bank is a prominent financial institution based in Stockholm, Sweden, with a rich history dating back to 1803. The bank specializes in a wide array of services, including financial advisory, wealth management, and investment banking. Its offerings encompass mergers and acquisitions, private placements of debt and equity, initial public offerings, and fundraising advisory. Additionally, Carnegie provides securities brokerage, private banking, and sales trading services. The firm is recognized for its focus on delivering consistent, long-term asset growth for its clients through a disciplined investment philosophy and a stable team of experienced professionals.

Scandi Standard

Post in 2024
Scandi Standard is a leading food company specializing in the production and supply of chicken and chicken-based products across the Nordic region and Ireland. Established in 2013, the company consolidated the largest poultry operations in the region, creating a market leader in the sector. Scandi Standard markets its products under several brand names, including Kronfågel, Danpo, Den Stolte Hane, Naapurin Maalaiskana, and Manor Farm. With operations in Sweden, Denmark, Norway, Finland, and Ireland, the company primarily generates its revenue from the Ready to Cook segment, with a significant portion coming from its home market of Sweden. Scandi Standard employs nearly 1,700 individuals and has an annual turnover of approximately SEK 5.2 billion, focusing on delivering high-quality chicken products to both domestic and export markets.

Embracer Group

Post in 2024
Embracer Group is a parent company that oversees a diverse array of businesses focused on the development and publishing of PC, console, mobile, and tabletop games, along with related media. Formerly known as THQ Nordic AB, the company rebranded to Embracer Group in 2019 to enhance clarity regarding its structure. With a robust portfolio of over 850 owned or controlled brands, Embracer Group includes notable franchises such as Saints Row, Dead Island, and Borderlands. The group operates through ten divisions, including THQ Nordic GmbH, Koch Media GmbH/Deep Silver, and Gearbox Entertainment, among others. Headquartered in Karlstad, Sweden, Embracer Group employs over 12,500 staff and contracted developers across more than 40 countries. The company generates most of its revenue from game development and publishing, with significant income derived from the United States and Europe.

Salmon Evolution

Post in 2023
Salmon Evolution AS, based in Molde, Norway, is a land-based salmon farming company. Established in 2017, it specializes in producing salmon meals using a hybrid flow-through system technology. The company's production facility is located in Indre Harøy, Hustadvika, Norway, where it utilizes clean and fresh seawater to create optimal growth conditions for its salmon. Salmon Evolution AS operates as a subsidiary of Salmon Evolution Holding AS.

Otovo

Post in 2023
Otovo is a renewable energy company that simplifies the process of obtaining solar panels and batteries for homeowners. Established in Oslo in 2016, Otovo operates a marketplace that connects customers with a network of thoroughly vetted local energy installers. Utilizing proprietary technology, the company assesses the solar potential of residential properties and provides tailored project recommendations. Otovo has successfully completed thousands of solar energy installations across Europe, striving to become the leading residential solar energy provider on the continent. The company consists of a diverse team of engineers, programmers, and technical consultants located in various European cities, including Stockholm, Paris, and Madrid. In addition to facilitating the installation of solar panels, Otovo offers subscription services for customers to access renewable energy solutions. The company is well-capitalized, supported by prominent Scandinavian investment entities.

Climeon

Post in 2020
Climeon is a clean-tech company based in Stockholm, Sweden, that specializes in converting waste heat and geothermal heat into clean electricity. Founded in 2011 by Thomas Öström and Joachim Karthäuser, Climeon focuses on developing low-temperature industrial and geothermal waste heat recovery products. Its primary offering is the Climeon Heat Power system, which efficiently generates electricity from temperature differences in water and gas. The company serves various sectors, including geothermal energy, industrial processes, power stations, and maritime applications, and operates across Sweden, Europe, North America, and Asia. Climeon's innovative solutions contribute to sustainable energy practices by recycling and converting low-temperature heat into environmentally friendly electricity.

Space Norway

Funding Round in 2019
Space Norway formerly known Norsk Romsenter Eiendom, specializes in providing satellite mobile broadband coverage to civilian and military users in the Arctic. It has a disposal satellite-based communications capacity providing coverage of the Troll Research Station in Antarctica. The solution onboard the Thor 7 satellite has been developed in cooperation with Telenor. The company is driven by a mission to own and lease out space-related infrastructure, and to make other investments in space-related activities. Space Norway is also the owner of Statsat AS, a company that manages small satellites owned by the Norwegian state, such as AISSat-1 and -2 and Norsat-1 and -2. Space Norway was founded in 1995 as a subsidiary of the Norwegian Space Centre to operate as a vehicle for the Centre’s operational activities.

ePekebok

Venture Round in 2018
ePekebok AS develops a reading platform Lesemeister that gives students access to e-books from the Norwegian publishers. The platform enables readers get readpoints, read with and without sound, record and listen in own reading voice, and automatic reading log.

Nille AS

Acquisition in 2018
Nille AS is a discount retail chain based in Trollåsen, Norway, founded in 1981. The company specializes in a diverse range of products aimed primarily at women, including candles, napkins, birthday supplies, kitchen items, and textiles. Nille AS sells its products through both online and offline stores, catering to customers looking for affordable household items. As of April 27, 2018, it operates as a subsidiary of DNB ASA.

Chooose

Angel Round in 2017
Chooose AS, based in Oslo, Norway, specializes in providing climate compensation solutions for consumer-facing enterprises. The company offers a platform that integrates seamlessly into e-commerce checkouts and consumer applications, enabling businesses to offer high-impact climate action options to their customers. Chooose operates a marketplace for carbon credits and provides tools for emission calculations and carbon removal transactions. Established in 1997, the company has gained recognition for its innovative approach, being named Norway's startup of the year in 2017 and recognized as a top global tech startup by Sir Richard Branson and the Extreme Tech Challenge. In addition to its core services, Chooose also sells gift cards online.

Recipharm

Post in 2014
Recipharm, established in Sweden in 1995 and headquartered in Jordbro, is a prominent Contract Development and Manufacturing Organisation (CDMO) that serves pharmaceutical and biotech companies. With a workforce of approximately 3,500 employees, Recipharm specializes in supporting clients throughout the entire lifecycle of pharmaceutical products, from early development to commercial manufacturing. The company is dedicated to delivering innovative solutions that help its clients bring products to market efficiently and cost-effectively. By prioritizing respect for all stakeholders and ensuring value for money, Recipharm distinguishes itself in a competitive industry, reinforcing its commitment to long-term partnerships with its clients.

NorSun

Debt Financing in 2009
NorSun is a Norwegian company specializing in the manufacture of high-performance monocrystalline silicon ingots and wafers for the solar energy industry. The company utilizes the Czochralski process to produce its products, which involves melting polysilicon and shaping it into blocks that are then sliced into thin wafers. These wafers are supplied to leading manufacturers of high-efficiency solar cells, who prioritize quality and innovation in their production processes. NorSun operates modern production facilities in Årdal, Norway, and Vantaa, Finland, with an annual production capacity projected to exceed 200 MWp. The company is dedicated to enhancing economies of scale and advancing technology to improve the efficiency and affordability of solar energy conversion.
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