1、20242025NORDICPrivate Capital BreakdownContents22025 NORDIC PRIVATE CAPITAL BREAKDOWNPitchBook Data,Inc.Nizar Tarhuni Executive Vice President of Research and Market IntelligencePaul Condra Global Head of Private Markets ResearchNalin Patel Director of Research,EMEA Private CapitalInstitutional Rese

2、arch GroupAnalysisNavina Rajan Senior Analyst,EMEA Private Capital Nicolas Moura,CFA Senior Analyst,EMEA Private Capital DataCharlie Farber Manager,Data AnalysisOscar Allaway Data Analyst PublishingReport designed by Josie DoanPublished on 6 March 2025Click here for PitchBooks report methodologies.I

3、ntroduction3VC deals4VC exits9VC fundraising11PE deals12PE exits16PE fundraising1832025 NORDIC PRIVATE CAPITAL BREAKDOWNINTRODUCTIONIntroductionVenture capitalNordic deal value in 2024 showed more weakness than broader Europe.Within activity,pre-seed/seed deal value increased,and early-stage deal va

4、lue declined the most.Overall,the Nordics has a history of scaling significant businesses,such as recent unicorns Oura and Mentimeter.With the lack of deal value in the stage over the past few years,however,the question of whether the ecosystem is maturing and if it can attract new late-stage invest

5、ment should be considered.That being said,government initiatives regarding venture markets and AI/sustainability have been prolific over the past year.In 2024,Nordic exit value declined YoY,lagging the recovery in Europe.The software-as-a-service(SaaS)vertical saw the most exits in 2024,followed by

6、cleantech,and then TMT.By value,manufacturing came out on top.By type,public listings gained share of value,but most exits still occured via acquisition.By country,Denmark comprised the largest share of value,while most exits fell in Sweden.Biotech&pharma exits were also prevalent.Overall,for the No