Turbine Capital closes €54 million DeepTech fund to connect Nordic startups with industrial leaders

Turbine Capital, a Swedish VC fund specializing in early-stage DeepTech companies in the Nordics, has announced the closure of its first fund at €54 million (SEK 608 million). The new industrial investor joining the fund is Mycronic, which complements the existing investor base of leaders from Nordic industry, European institutions, and family offices.

Turbine Capital's Founding & General Partner, Anders Ösund, stated that the successful fund close confirms that their model of multi-corporate venture capital meets a real need. Over the past year, Turbine Capital demonstrated that this approach works in practice, not just in theory. The announcement of Turbine Capital's fund closure comes amid several specialized European VC fund announcements in 2026, including Norrsken Evolve, The Footprint Firm, PSV Tech, Climentum Capital, and 360 Capital's Poli360 2.

These combined fund capital totals approximately €393 million. Mycronic, the new investor, brings cutting-edge expertise in semiconductors and advanced manufacturing, strengthening Turbine Capital's industrial network, which spans defence, transport, electrification, and semiconductor technology. Since its first close in April 2025, Turbine Capital has established a unique Nordic model for cross-sector collaboration in venture capital, working closely with seven university-affiliated incubators and providing investors access to early-stage innovation while giving portfolio companies access to capital, industrial expertise, and customers.