Fund profile / Norway

Alliance Nordic III

Geography
Norway
Stage
Pre-Seed
Fund size
€40M
Focus
AI/ML, Climate & Sustainability, Digital Health and SaaS
Signals
Published
Share
N°01 / About

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.

N°02 / Thesis

Investment Focus

Location / RegionNorway
Funding StagePre-Seed
Industry Focus
AI/ML
Climate & Sustainability
Digital Health
SaaS

Investor Signals Profile

active

Sweet Spot

Nordic AI/SaaS founder solving enterprise problem globally

Nordic early-stage
global ambition
AI & software
pre-seed to Series A
sustainability, legaltech, robotics

Bullish Signals

Alliance Nordic III €40M closed, €100M target livewebsite
General Intuition $320M Series C at $2.3B valuationwebsite
Exits: ShiftX, AlexisHR, Swarm64, Aquabyte, Vitruvianwebsite
Sanity $85M Series C; Unleash $35M Series Bwebsite
Oda unicorn from Alliance seed leadexternal
LPs: KLP, Saminvest, Investinor, Smedvig, Telenorwebsite
Newcode.ai $13.5M Series A (Aug 2026); legaltech focuswebsite
1X robotics $100M Series B from seedwebsite
Tana $14M Series A; Lightspeed, Northzone co-investwebsite
Consistent follow-on across pre-seed to Series Cwebsite
Co-invests with Sequoia, Khosla, Lightspeed, General Catalystwebsite
Lightbringer $10M Series A; US expansion patent AIwebsite
Portfolio: fintech, legaltech, robotics, healthtech, energy AIwebsite
Fika Jobs $4M pre-seed; AI video interview platformwebsite
OptiFish aquaculture AI; Hemi Health migraine scalingwebsite
Endform €1.5M pre-seed; AI testing automation leadwebsite
Odins.ai 22 MNOK Series A; marketing measurementwebsite
Bits Technology €12M Series A; compliance infrastructurewebsite
Deckmatch $3.1M seed; private markets AI workflowswebsite
Versiro €2.3M seed lead; energy grid renewableswebsite
Steep €4M seed; modern analytics platformwebsite
Two €13M Series B; B2B commerce trust infrastructurewebsite
Kvist 15 MNOK Series A; real estate sustainabilitywebsite
Mutual partnership model; long-term founder supportwebsite
Medal $13M Series B; General Intuition AI spinoutwebsite
OptiFish 8 MNOK; co-led with Momentum, StartupLabwebsite
Ciloo first close; Dutch-Norwegian eCommerce platformwebsite

Contrarian Signals

Nordic-only sourcing limits deal breadthexternal
Fund III at 40% of target despite strong track recordexternal
Small team across 4 Nordic marketsexternal
Wide sector spread; thesis clarity could be strongerexternal

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, AI, legaltech, deep tech, healthtech

Founder Don'ts

No local-only ambition
No pure lifestyle businesses
Skip traction evidence before pitch

41 signals on Alliance Nordic III

27 bullish · 4 contrarian · 5 pitch do's · 3 don'ts · 2 GP profiles, each with its source. From €9/month, cancel anytime.

Facts

Fund Overview

Fund Size€40M
Saves0
People

Key People

Johan Gjesdahl, Jan Erik Hareid

Stine Mølgaard SørensenPartner
Henrik TorstenssonPartner
Backers

Known LPs

SaminvestFund-of-Funds
N°04 / See also

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