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Nordic VC Capped Fund to Back Deep Tech
16 Dec
Summary
- Neil Murray launched a $6 million Fund III for early-stage Nordic tech.
- Fund III will focus on robotics, AI-native, and deep tech founders.
- Murray emphasizes founder alignment over fund size with his strategy.
Neil Murray, founder and general partner at The Nordic Web Ventures, has successfully closed his $6 million Fund III. The fund is dedicated to making initial institutional investments in early-stage companies specializing in robotics, AI-native technologies, and deep tech within the Nordic region. Murray's strategy emphasizes strong founder alignment, deliberately capping the fund size to maintain focus and flexibility.
Having previously invested in over 50 companies, including notable successes like unicorn Lovable and SafetyWing, Murray aims to back 30-35 new ventures with this latest fund. Check sizes will average around $200,000, prioritizing Tier 1 founders. His investor base includes prominent institutions and founders from successful Nordic tech companies.
The Nordic tech ecosystem, valued at over half a trillion dollars, continues its rapid growth. Murray believes the region's strong computer science and engineering culture, combined with a methodical build style, positions it exceptionally well for advancements in AI-powered robotics across various sectors. This momentum signals a compounding growth, not just a fleeting moment, for Nordic innovation.
