Icon Capital

Icon Capital AS is a venture capital and private equity firm based in Oslo, Norway, that focuses on early-stage and growth investments. The firm targets various sectors including telecom, media, technology, energy—specifically oil, gas, and renewable energy—healthcare, and environmental technology. It specializes in identifying under-appreciated companies and opportunities for restructuring, including distressed debt and strategic acquisitions. Icon Capital typically invests in the Nordic region, particularly Northern Europe, and occasionally considers investments in Central and Eastern Europe. The firm generally seeks to acquire a majority stake in its portfolio companies, leveraging its expertise to foster partnerships with management and drive lasting value. Established in 2001, Icon Capital has developed a strong presence in its target markets.

Christian Bjørnstad

Founding Partner

Camilla Elden Gundem

Senior Associate

Ole Martin Lauritsen

MD

Philip Magnussen

Senior Associate

Espen Magnussen

Founding Partner

Per Christian Olsen

Senior Associate

Past deals in Oslo

Malorama

Private Equity Round in 2019
Malorama is Norway's leading trading house for products for surface treatment. They are the largest in paint, flooring and wallpaper, and they supply all of the equipment and accessories. The core business comprises both retail and wholesale trade, with the retail concept Colorful, the professional chain Mal Proff, our wholesale and logistics business Farveringen, and the retail trade chain Kulør for independent businesses with local roots. In addition to providing a complete product range, we offer concepts and category development, as well as support systems and administrative solutions for shops and craftsmen.