Turbine Capital, the Stockholm-based early-stage deep tech VC fund focused on the Nordics, has announced the final close of its first fund at SEK 608 million. Semiconductor and advanced-manufacturing equipment maker Mycronic joins as a new industrial investor.
The Investor Base
Mycronic joins industrial investors Saab, Scania, Volvo Cars and Stena, as well as a number of industrial family offices and private investors. Institutional investors in the fund include Saminvest and the European Investment Fund (EIF).
Mycronic develops, manufactures and markets production equipment for the electronics industry where precision and flexibility are critical. It is in a strong growth phase driven by AI-related infrastructure investment and has strengthened its presence in defence-related electronics manufacturing. It brings expertise in semiconductor technology, photonics and advanced manufacturing, all key areas in Turbine Capital’s investment thesis.
A Cross-Sector Model
Since its first close in April 2025, Turbine Capital has built a Nordic model for cross-sector collaboration in venture capital. It works closely with seven university-affiliated incubators: ABI, Uminova, UIC, Sting, LEAD, GU Venturesand IDEON. It combines them with a broad base of industrial investors. Investors get access to early-stage innovation, while portfolio companies gain capital, industrial expertise and customers.
Anders Ösund, Founding & General Partner at Turbine Capital, said: “Closing our first fund at more than SEK 600 million, with an investor base ranging from leading Nordic industry to European institutions, confirms that our model meets a real need. During our first year, we have shown that multi-corporate venture capital works in practice, not just in theory.”
Pär Hedberg, founder of Sting and initiator and co-founder of Turbine Capital, added: “Mycronic brings cutting-edge expertise in semiconductors and advanced manufacturing that strengthens our entire industrial network. Together with Saab, Scania, Volvo Cars and Stena, we have a base of industrial partners spanning defence, transport, electrification and now also semiconductor technology — exactly the kind of cross-sector platform Europe’s deep tech companies need to scale.”
About Turbine Capital
Turbine Capital is an early-stage deep tech VC fund backed by multiple corporate investors, Sting and university-affiliated incubators. It describes its structure as a new model in Europe for industry-wide, cross-sector collaboration in venture capital. With a 15-year investment horizon, it combines financial backing with strategic industry partnerships to drive long-term innovation and global growth.
