SNÖ Ventures
Norway-based venture capital firm; led Nordic Air Defence's €1.2M strategic investment round (Nov 2024).
Oslo-based Nordic-focused VC, founded 2015 by Magne Uppman and Teodor Bjerrang, backing early-stage high-growth Nordic tech companies from Seed through Series A. Raised a $12M Fund I and a roughly $54M Fund II (2021, with Peter Thiel as a strategic investor) against an announced $100M target. In August 2025 the firm announced it will not raise a Fund III; the founding partners are launching independent solo-GP funds instead, though SNÖ says it remains committed to its existing portfolio.
Overview
- Firm
- SNÖ Ventures
- Headquarters
- Oslo, Norway
- Founded
- 2015
- AUM
- ~$54M (Fund II, 2021); ~$12M (Fund I)
- Stages
- Pre-Seed, Seed, Series A
- Thesis
- Nordic-focused early-stage VC providing global access and local support for the region's most ambitious tech founders.
Partners0
No linked records yet.
Frequently asked
- What is SNÖ Ventures?
- Nordic-focused early-stage VC providing global access and local support for the region's most ambitious tech founders.
- How much does SNÖ Ventures manage?
- SNÖ Ventures manages ~$54M (Fund II, 2021); ~$12M (Fund I) in assets, and was founded in 2015.
- What stages does SNÖ Ventures invest at?
- SNÖ Ventures invests at Pre-Seed, Seed, Series A.
Sources & citations2
Each claim links to its underlying source. Confidence reflects how directly the source supports the claim.
- 1
SNÖ Ventures announced in August 2025 that it will not raise a third fund; founding partners Magne Uppman and Teodor Bjerrang are launching independent solo-GP funds.
Silicon Canals: Peter Thiel-backed SNÖ Ventures winds down operations; partners split to launch independent fundsVerified2025-08-25 - 2
SNÖ Ventures led Nordic Air Defence's €1.2 million strategic investment round.
EDR Magazine: Nordic Air Defence secures €1.2 mn strategic investment to further mission to ensure European resilience and autonomyVerified2024-11-12