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Founded in the Nordic region, Sandwater is a venture capital firm dedicated to investing in early-stage companies that tackle significant global challenges. Established with a fund size of €125 million (approximately $136 million), Sandwater has quickly gained a reputation as one of the largest first-time Nordic venture funds raised in 2023. The firm emphasizes collaboration and transparency in its operations, aiming to create a positive impact through its investments. Sandwater's leadership includes Managing Partner Tom Even Mortensen and Partner Kristian Melhuus, who bring extensive experience and a strong commitment to sustainability and innovation. The firm primarily focuses on the Nordics and Northern Europe, with a portfolio that spans Norway, Sweden, Finland, Germany, and the Netherlands. Sandwater has raised a total of 500 million NOK to date, with 900 million NOK remaining for new investments and follow-ons. This strategic positioning allows Sandwater to effectively support its portfolio companies in navigating challenges and seizing opportunities in their respective markets.
Sandwater invests in a diverse range of sectors, including climate, energy, healthcare, artificial intelligence, robotics, biotechnology, and food-agtech. The firm typically targets companies at the Seed to Series B stages, with initial investments ranging from €2 million to €10 million. Sandwater's investment focus is particularly strong in areas such as resource efficiency, energy transition, and productivity and resilience. By concentrating on these sectors, Sandwater aims to back innovative solutions that address pressing global issues. The firm looks for founders who are passionate about making a difference and who possess the vision and capability to drive their companies forward. Sandwater's geographical focus is primarily on the Nordics and Northern Europe, allowing it to leverage local expertise and networks while also tapping into broader European markets. This strategic approach enables Sandwater to identify and support companies that are not only financially viable but also contribute positively to society and the environment.
Sandwater's portfolio consists of 13 innovative companies that are making strides in their respective fields. Notable investments include **1X Technologies**, which is developing humanoid robots for care applications, and **Antec Biogas**, which is focused on accelerating biogas production. Other significant portfolio companies include **CMR Surgical**, specializing in surgical robotics, and **CardioSignal**, which is dedicated to advancing cardiac digital biomarkers. Additionally, **Cytovation** is engaged in next-generation immunotherapy, while **Enduro Genetics** is involved in bioproduction at scale. Sandwater also supports **Evyon**, a company providing planet-friendly energy storage solutions, and **FarmInsect**, which is developing sustainable insect-based feed solutions. Other key investments include **Filics**, innovating in pallet transport, **Nofence**, offering the world’s first virtual livestock fence, **Soil Capital**, focusing on regenerative agriculture, and **XO Life**, a digital patient companion platform. This diverse portfolio reflects Sandwater's commitment to investing in companies that address significant global challenges across various sectors.
Tom Even Mortensen: Managing Partner with extensive experience in venture capital and a strong commitment to sustainability and innovation.
Kristian Melhuus: Partner focused on supporting early-stage companies and driving impactful investments.
To pitch Sandwater, founders should visit their website at sandwater.com. It is recommended to provide a detailed pitch that includes the business model, market opportunity, and how the startup addresses significant global challenges. Sandwater is open to both warm introductions and cold applications, but a well-prepared pitch is essential for consideration.
Sandwater invests in companies at the Seed, Seed+ (Extension), Series A, and Series B stages. This allows them to support startups at various points in their growth journey, from initial development to scaling operations.
Founders interested in pitching Sandwater can do so through their website at sandwater.com. It is advisable to prepare a comprehensive pitch that outlines the business model, market opportunity, and how the company addresses significant global challenges.
Sandwater focuses on several key sectors, including climate, energy, healthcare, artificial intelligence, robotics, biotechnology, and food-agtech. Their investment strategy is centered around supporting innovative solutions that tackle pressing global issues.
Sandwater typically invests between €2 million and €10 million in their portfolio companies. This range allows them to provide substantial support to startups as they grow and scale their operations.
Sandwater primarily invests in the Nordics and Northern Europe. This geographical focus enables them to leverage local expertise and networks while also tapping into broader European markets.
Sandwater adds value to its portfolio companies through strategic guidance, access to a network of industry experts, and support in scaling operations. Their expertise in sustainability and innovation helps companies navigate challenges and seize opportunities in their respective markets.
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