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Northcap is a venture capital firm founded in 1999, initially known as IVS (Internet Ventures Scandinavia). The firm rebranded in 2006 and is headquartered in Northern Europe, focusing on investments in information and communication technology (ICT) startups. Northcap aims to support companies that demonstrate ambition and potential for international growth, particularly in the Northern half of Europe.
As of now, Northcap manages a fund size of €70 million, raised in 2012, and has invested in over 40 companies. The firm is backed by the European Union through the Competitiveness and Innovation Framework Programme (CIP), which enhances its capacity to support startups in the region.
Northcap invests primarily in ICT B2B and B2B2C startups, with a strong emphasis on sectors such as cloud computing (SaaS), communications, mobile/mobility, online services, and e-commerce. The firm provides funding across three distinct stages of development: Seed Stage, Early Stage, and Growth Stage.
In the Seed Stage, Northcap targets companies that have just begun generating revenue, primarily in Denmark. For the Early Stage, the firm looks for companies with a proven business model and revenues between €1-2 million, focusing on the Northern half of Europe, including Germany. In the Growth Stage, Northcap invests in well-established companies with revenues typically ranging from €10-25 million, also located in Northern Europe. This structured approach allows Northcap to support startups at various points in their growth journey.
Northcap has invested in over 40 IT companies, focusing on those within the ICT sector. While specific names and descriptions of notable portfolio companies are not provided, the firm’s investments span various stages of development, reflecting its commitment to supporting startups with international growth ambitions.
The portfolio includes companies that are likely engaged in cloud computing, communications, and e-commerce, aligning with Northcap's investment focus. This diverse portfolio demonstrates Northcap's strategy of backing innovative startups that are positioned to scale in the European market.
Thomas Weilby, General Partner, has extensive experience in venture capital and has been instrumental in Northcap's investment strategy since its inception.
Kim Wiencken, General Partner, brings a wealth of knowledge in ICT investments and has played a key role in identifying promising startups within the firm's focus areas.
What are Northcap's investment criteria?
Northcap focuses on ICT B2B and B2B2C startups, particularly in cloud computing, communications, mobile/mobility, online services, and e-commerce. They invest across three stages: Seed, Early, and Growth.
How can I apply or pitch to Northcap?
Founders can reach out to Northcap through their website for inquiries. Specific application forms or portals are not mentioned, but a clear pitch deck outlining the business model and growth potential is advisable.
What makes Northcap different from other VC firms?
Northcap's unique focus on ICT startups in Northern Europe, combined with their backing from the European Union, positions them to provide not only capital but also strategic support for companies aiming for international growth.
What is the geographic scope of Northcap's investments?
Northcap primarily invests in the Northern half of Europe, including countries like Denmark and Germany, targeting startups with the potential for international expansion.
What is the typical check size Northcap provides?
While specific check sizes are not disclosed, Northcap invests across Seed, Early, and Growth stages, indicating a range that likely varies based on the stage and needs of the startup.
What kind of post-investment involvement does Northcap have?
Northcap typically engages with portfolio companies to provide strategic support and guidance, although specific details on board involvement or mentorship styles are not outlined.
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