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Turbine Capital is a venture capital fund established in 2024, focusing on early-stage deeptech companies. Founded by Pär Hedberg, Anders Ösund, and Karin Edström, the firm is based in Stockholm, Sweden. Turbine Capital was initiated by Sting, a prominent Swedish deeptech incubator, to address the significant funding gap faced by deeptech startups. The fund operates with a 15-year investment horizon, aiming to support startups through their critical lab-to-market transition.
The firm is backed by a diverse group of limited partners, including industrial corporations such as Saab Ventures and Volvo Cars Tech Fund, as well as university-affiliated incubators. This unique structure allows Turbine Capital to provide not only capital but also valuable market validation and access to resources. The fund's goal is to invest in 30 to 40 early-stage deeptech companies, primarily in Sweden and other Nordic markets.
Turbine Capital invests in deeptech startups that leverage advanced technologies to address significant challenges across various sectors, including healthcare, energy, robotics, cybersecurity, and industrial applications. The fund focuses on early-stage investments, specifically pre-seed to Series A, with initial check sizes ranging from €0.3 million to €0.7 million per company. The geographic focus is primarily on Swedish companies, with up to 20% of investments allocated to other Nordic markets.
The investment strategy emphasizes active engagement with portfolio companies, often through Board involvement, to accelerate growth. Turbine Capital seeks startups that demonstrate the potential for substantial economic impact and rely on complex technologies. The firm’s dual support structure, combining industrial corporate partnerships and university ecosystem connectivity, enhances the resources available to its portfolio companies.
Turbine Capital's portfolio currently includes one notable investment:
Karin Edström - Founding & Managing Partner. Karin has extensive experience in venture capital and startup incubation, having previously worked with Almi Invest and Investor Growth Capital. She specializes in deeptech investments and has a strong background in supporting early-stage companies.
Anders Ösund - Founding & Managing Partner. Anders brings a wealth of experience from his previous roles in venture capital and corporate innovation. He has a keen interest in industrial technology and has been instrumental in establishing partnerships with corporate investors.
Pär Hedberg - Founding Partner. Pär has a background in technology commercialization and has worked with various startups in the deeptech space. His expertise lies in bridging the gap between research and market application.
Daniel Tano - Senior Associate. Daniel has a strong analytical background and focuses on deal sourcing and due diligence for the fund. He has experience in both venture capital and startup operations.
To pitch Turbine Capital, founders should use the contact email provided: contact@turbinecapital.vc. It is recommended to include a comprehensive pitch deck that outlines the business model, technology, market opportunity, and team background. Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred but not mandatory.
On April 15, 2025, Turbine Capital announced its first close, securing approximately €30 million, which is about 40% of its €75 million target fund size. This milestone marks the beginning of the fund's investment activities in the deeptech sector.
In recent months, Turbine Capital has gained attention for its unique approach to funding deeptech startups, combining support from industrial corporations and university incubators. The fund has been featured in various media outlets, highlighting its mission to bridge the funding gap for early-stage deeptech companies in Europe.
What are Turbine Capital's investment criteria?
Turbine Capital focuses on early-stage deeptech startups that leverage advanced technologies to solve significant challenges in sectors such as healthcare, energy, and cybersecurity. The fund invests in companies at the pre-seed to Series A stages, with initial check sizes ranging from €0.3 million to €0.7 million.
How can founders pitch to Turbine Capital?
Founders can pitch to Turbine Capital by submitting their proposals through the contact email at contact@turbinecapital.vc. It is advisable to include a detailed business plan and information about the technology and market potential.
What makes Turbine Capital different from other VCs?
Turbine Capital is unique in its dual support structure, combining backing from leading industrial corporations and university-affiliated incubators. This model provides startups with not only capital but also access to market validation and resources that are critical for growth.
What is the geographic focus of Turbine Capital?
The fund primarily invests in Swedish companies, with the flexibility to allocate up to 20% of its investments to other Nordic markets. This geographic focus allows Turbine Capital to leverage the strong university ecosystem in Sweden for deal sourcing.
What kind of post-investment support does Turbine Capital provide?
Turbine Capital engages actively with its portfolio companies, often taking Board positions to help accelerate growth. The firm aims to provide strategic guidance and access to its network of industrial partners and university resources.
What is the fund size and investment horizon of Turbine Capital?
The fund size target for Turbine Capital is €75 million, with a 15-year investment horizon. The firm aims to invest in 30 to 40 early-stage deeptech companies over this period.
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