Fund profile / Norway

Momentum III

Geography: Norway
Stage: Seed
Fund size: €25M
Focus: AI/ML, Climate & Sustainability and SaaS
Signals: Published

N°01 / About

About Momentum III

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

N°02 / Thesis

Investment Focus

Location / RegionNorway

Funding StageSeed

Industry Focus

AI/ML

Climate & Sustainability

SaaS

Investor Signals Profile

active

Sweet Spot

Seed-stage climate founders in ocean, agri, renewables, or construction-tech

climate & sustainability

ocean industries

agriculture

renewables

climate adaptation

energy efficiency

construction tech

infrastructure AI

circular economy

Bullish Signals

18 portfolio cos, 3 fundsexternal

850M NOK AUMexternal

Multiple exits incl. Spacemakerexternal

Hands-on beyond boardroom supportexternal

New bet: industrial heat storage (sand)linkedin

Co-invests with Voima, Superhero, 2Clinkedin

Active cross-border deals (Finland)linkedin

TheStorage €3.6m seed — confirmed checklinkedin

Backing deep energy flexibility playslinkedin

Spacemaker → Autodesk $240M exitexternal

Female hero in European climate VCexternal

Climate adaptation as underinvested priorityexternal

HSP: Master Finance NHH, early backer convictionlinkedin

Patient capital proven fixing planet thesislinkedin

Food/ag/ocean sectors early conviction playslinkedin

Birdsview GPR-AI concrete inspection, 100+ scanslinkedin

40 MNOK Birdsview round, strong Nordic syndicatelinkedin

Birdsview customers: VINCI, Sweco, Rambolllinkedin

Expanding into construction/infrastructure durability techlinkedin

Birdsview now 9 countries post-launch 2025linkedin

Co-syndicated Sarsia, Butterfly, Kiilto, Proptechfondenlinkedin

Contrarian Signals

Norway-focused, limited global reachexternal

Narrow sector thesis — climate onlyexternal

Founder Do's

Come with bold, scalable vision

Show strong team dynamics

Sustainability at core of business

Expect active board & daily support

Align on mutual trust & honesty

Target Nordic base + global expansion

Founder Don'ts

Don't hide agendas — straight talk only

Don't expect passive capital only

Don't pitch outside climate/sustainability focus

36 signals on Momentum III

21 bullish · 2 contrarian · 6 pitch do's · 3 don'ts · 4 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€25M

Saves0

Website

People

Key People

Hilde Støle Ettersen

Arve Janbu FresvikManaging Partner

Hilde Støle PettersenManaging Partner

Svein Ove LangelandManaging Partner

Christian MøgsterInvestment Director

N°04 / See also

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