Alliance Nordic III

Norway
Pre Seed
Share

About Alliance Nordic III

Alliance Nordic III is a venture capital firm based in Norway, focusing on Pre-Seed stage investments. The fund actively supports founders building innovative solutions in AI/ML, Climate & Sustainability, Digital Health, SaaS, providing strategic guidance and capital to help startups scale.

Investment Focus

Location / RegionNorway
Funding StagePre Seed
Industry Focus
Ai Ml
Climate Sustainability
Digital Health
Saas

Investor Signals Profile

active

Sweet Spot

Nordic early-stage tech founder with global B2B ambitions

Nordic early-stage
global ambition
AI & software
pre-seed to Series A
sustainability tech

Bullish Signals

Alliance Nordic III: €40M first close, €100M targetexternal
Exits: ShiftX, AlexisHR, Swarm64, Aquabyteexternal
Sanity $85M Series C; Unleash $35M Series Bexternal
Oda unicorn from Alliance seed leadexternal
LPs: KLP, Saminvest, Investinor, Smedvig, Telenorexternal
Active deal flow Q1 2026: Endform, Newcode.aiexternal
1X robotics: $100M Series B from seedexternal
Tana $14M Series A; Lightspeed, Northzone co-investexternal
Consistent follow-on participation across roundsexternal
Co-invests with Sequoia, Khosla, Lightspeedexternal
Endform €1.5M pre-seed led Mar 2026website
Newcode.ai $6.5M seed: legal AI OSwebsite
Bits €12M Series A; compliance/AML infrawebsite
Hemi Health €4M seed; international expansionwebsite
Two €40M+ total funding; Sequoia co-investorwebsite
General Intuition $133.7M; Khosla, General Catalystwebsite
Lightbringer €4.2M seed co-led Dec 2024website
Deckmatch $3.1M seed; Palo Alto expansionwebsite
Portfolio spans fintech, legaltech, robotics, healthtechwebsite
Active from pre-seed to Series C follow-onwebsite
Odins.ai 22MNOK round led Feb 2026website
Versiro €2.3M seed led Jul 2024; energy AIwebsite
Steep €4M seed; analytics platformwebsite
Aquabyte exit: Vitruvian majority buy Dec 2025website
Medal $13M at $333M valuation Jul 2024website
1X OpenAI-led $23.5M round; Alliance syndicatewebsite
Investing since pre-seed; multi-round follow-on patternwebsite
Sanity: backed seed through $85M Series Cwebsite

Contrarian Signals

Nordic-only sourcing limits deal breadthexternal
Fund III still at 40% of targetexternal
Small team across 4 Nordic marketsexternal
Wide sector spread; thesis focus unclearexternal

Founder Do's

Nordic roots, global scale mindset
Solving real, scalable problems
Strong early traction / customer pull
Open to long-term partnership approach
B2B SaaS or deep tech preferred

Founder Don'ts

No local-only ambition
No pure lifestyle businesses
Don't skip traction before approaching

Key GPs & Partners

SS
Stine Mølgaard Sørensen
Partner
founder-turned-investorhealthtechNordic ecosystem
HT
Henrik Torstensson
Partner
operatorconsumer techStockholm-based

Unlock Investor Signals

$29/month for full signal access. Cancel anytime.

Fund Overview

Fund Size€40M
Saves0

Key People

Johan Gjesdahl, Jan Erik Hareid

Stine Mølgaard SørensenPartner
Henrik TorstenssonPartner

Related Funds

Momentum III

€25M
Norway
Seed
Ai Ml, Saas, Climate Sustainability
Fund Manager:Hilde Støle Ettersen
Seed
Ai Ml
Saas
Climate Sustainability

Bluefront Equity Fund II

$100M
Norway
Growth
Climate Sustainability, Food Tech
Fund Manager:Kjetil Haga, Simen Landmark
Growth
Climate Sustainability
Food Tech

Hadean Ventures II

€100M
Norway
Seed
Enterprise Software, Saas
Fund Manager:Ngrid Teigland Akay, Walter Stockinger
Seed
Enterprise Software
Saas