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It is a real pleasure to look back at 2019 in Keiretsu Forum Nordics.

We have met with over 100 brilliant ventures of a variety that you can’t find in any other investor network. We have also grown with new members and we have seen the birth of Keiretsu’s first fund; Cross Nordic Capital, which will be the start of the next level collaboration across the Nordics and Baltics within our great community. It will actually be the first Business Angel fund with a mandate to invest across the Nordics and Baltics. The mission is to bring the Nordic and Baltic business angels closer to each other by co-investing with the fund. You can read more about the fund here

During the year we have launched our first Investor Training program through Keiretsu Academy. With ten investors combining theory with practical venture selection and investing, similar to the Nordic Angel Program earlier launched by our fellow investment groups across the Nordics and Baltics, the program has resulted in a brand new way for our members to work together to screen ventures and finally announce a winner; a venture to receive a share investment from the group. The winning investment will be announced at our annual Investor Capital Expo on the 23rd of January in Stockholm.

Another big news is that Keiretsu Forum Nordics, together with the new venture capital firm Edge Venture Capital and the Swedish Venture Capital Association, is presenting the first Nordic LP/GP event for institutional investors, family offices and pension funds interested in investing in emerging Nordic and Baltic VC-teams: Nordic Allocation.

The first Nordic Allocation annual summit event on the 22nd of January in Stockholm is a new space for investors in VC-firms to meet and share best practice on how to work with the best emerging VC teams in the Nordics. Instead of ventures pitching to Investors, VC teams will be pitching to institutional investors, family offices and fund of fund investors interested in the Nordic VC market. More information at

Finally, and most important; we have a new CEO and President at Keiretsu Forum Nordics!

I am extremely pleased to announce that Anette Nordvall has joined our team. Anette does not only hold impressive titles as one of Sweden’s Most Powerful Tech-investors and Nordic100 Most Influencial Person, she is also a wonderful addition to our community with huge knowledge and experience as a successful entrepreneur in the U.S, private investor in the Nordics, experienced business executive, chairwoman and founder of investor networks such as NordicBAN and STOAF Associates. Anette and I have invested together since early 2011 when she came back to Sweden from the US. We share the same values and mission in supporting the ecosystem for startups and scaleups, as well as bringing the Nordics and Baltics investor community closer together.

Please join me in giving Anette a warm welcome, we are so happy to have you joining our Keiretsu team and family, welcome Anette!

On January 23, I hope to see at our great annual event Investor Capital Expo. This year we are aiming higher than ever before, with great keynote speakers as Tina and Tom Sjögren, who will share with us their unbelievable and inspiring story as adventurers and space tech entrepreneurs, we will see 12 high quality ventures pitching and we will focus on the most important question right now: how can we support the innovation that will take us to a sustainable future?

For tickets:

My warmest Merry Christmas and a Happy New Year to all of you!


During 2019, 42 unique ventures have presented at Keiretsu Forum Nordics.
Our Forum Meetings gather the most significant number of investors in the Nordic investment ecosystem; as a result, one out of four ventures receives funding. Since the network’s inception in 2016, Keiretsu Forum Nordics members have funded 39 ventures.

We are also proud to announce that 13% of our portfolio companies have made an IPO on the Swedish stock market. This year, two companies rang the bell; Adventure Box and Inzile. Except for these two companies, Inhalation Science, Raytelligence and Neodynimics, are listed on the Swedish stock market.

During this year, thirteen ventures have received funding from Keiretsu Forum Nordics network, and these are; ScientificMed, Doodlespot, WiralCam, Ztabler, Enliven, Neodynamics, Inzile, Ponture, GRC Watch, Näktergal, Ridesum, Viking Analytics, and PowerWoman. We are super excited and are looking forward to following the journey of these fantastic ventures! Please stay tuned for upcoming news about their progression.

At the moment, there are two on-going due diligence processes. Keiretsu Forum Nordics members are currently evaluating TADA Medical and Flax Innovation. Please contact me at if you are interested in receiving more information.

Happy Holidays to all of you!


Keiretsu Investor Capital Expo 2020 proudly presents keynote speakers Tina and Tom Sjögren! On January 23rd you’ll have the pleasure to listen to this adventurous couples’ exciting story about how to achieve “The 3 Poles Challenge”, starting a company to offer future space trips to Mars and – most important – never give up on your dreams however remote they seem to be.

Leaving on one untouched, “Mount Everest to Olympus Mons” presentation is transforming and change-inspiring. Spanning 500 years of exploration and science mixed with examples from Tina and Tom’s own expeditions, it details the progress of the Pythom Mars mission. Three times the height of Everest, Olympus Mons is the highest mountain in the solar system.

Explorers and entrepreneurs, Tina and Tom Sjögren built businesses in Europe and the United States. They were the first couple to reach the three Poles; South Pole, North Pole and Mount Everest, earning 4 Guinness World Records. Founded by the Sjögrens, Pythom Inc, based in the mountains of Sierra Nevada (CA) develops technology for human exploration of Space, with an expedition to Mars as the first target. NASA called Pythom space technology “very interesting and ambitious” and “fundamentally a good idea”. The US Department of Defense, DARPA, selected Eiger – Phytom’s orbital rocket – one of the 10 finalists in the DARPA Launch Challenge.
Tina and Tom were featured by CNN, New York Times, LA Times, The Times London, BBC, National Geographic, Scientific American, Wired Mag and many others.
The couple did keynote speeches for IBM, Ericsson Mobile Systems, Space organizations, and helped build team spirit in work groups with several Fortune 500 companies.

A great happening during 2019 was the launching of
the “Keiretsu Forum Nordics WISE” (Women Investing in and Supporting Entrepreneurs).

In November, the WISE group traveled to Tallinn to participate in Nordic Female Investors Meetup hosted by the Estonian Chamber of Commerce, as well as meeting key persons within the blooming Estonian startup community.

The amazing fact is that Estonia; with a 1.3 million population and only 28 years of independence, has already produced 4 unicorns! And we are quite sure there is more in the pipeline…

During this interesting two-day visit, the Keiretsu Forum female investors met up with representatives from both the dynamic start-up community in Tallinn as well as investors and other facilitators of the growing Estonian economy. Thank you for showing us your cool start-up blocks and all the insights!

Are you interested in investing in early stage ventures with high growth potential and are you eager to learn how to build your own risk-balanced portfolio?

• How do you find the right company, at the right time and at a reasonably low corporate valuation?
• How do you assess valuation, contract design and financial design?

The Cross Nordic Capital Annual Fund is open to all Keiretsu members who wish to deepen their knowledge in early stage investing, “learning while doing”, sharing competences, and developing strong and strategic portfolio growth.

Cross Nordic Capital AB is a limited company that invests in early stage ventures. Funds are linked to Keiretsu Forum Nordics members for them to become active fund owners. Fund partners are offered basic investment training in the Keiretsu Academy; with case training in due diligence, investment assessment and personal portfolio risk strategy.

First Annual Fund (1/1-2020) is set at 5M SEK (100 tickets à 50 000 SEK).

As a Fund Partner, you will have the opportunity to build a risk-balanced early investment portfolio via a partnership model. It provides possibilities to both co-invest and to invest in other ventures outside the fund.

Furthermore, you get a unique opportunity to get involved in investment processes. By learning in a group you can develop different competencies while specializing in the selection of ventures, investment assessments and opening operational initiatives in ventures.

This is Best Practice for everyone who desire to contribute in building the future companies in tech and sustainability!

If you are interested and want to know more, please contact Anette Nordvall via email

Expo 2018

Thanks to all who participated in our first Investor Capital Expo in Stockholm! You helped make this a great success and a new landmark for Cross-Border Investing, Growth, Knowledge sharing and Partnering for Innovation and Success. We are already planning for next years event! Please save the date for January 17th,


Email: Address: Tomtebogatan 37 Zip code: Stockholm 113 38   Anette Nordvall CEO & chapter president +46 76 190 50 55 LinkedIn Ted Elvhage Chairman +46 70 556 08 08 LinkedIn Disa Öhlander Member & Partner Director +46 70 726 81 64 LinkedIn Emma Syring Entrepreneur Director +46 70


Our Partners are essential for us and we can proudly present the following partners within different areas of competence and deliverables to support our members and ventures in the best possible way. We are constantly looking for additional competence to our partner network, so please feel free to contact Disa

For Ventures

Investment Criteria Keiretsu members understand that searching for funding can be a daunting process, even to the most experienced entrepreneur. The investors attending our meeting bring expertise from a large number of sectors and therefore, we invite entrepreneurs from diverse industries to present at our meetings. Keiretsu Forum members invest in