Turbine Capital, a Swedish VC fund focused on early-stage DeepTech companies in the Nordics, announced the final close of its first fund at €54 million (SEK 608 million) and a new industrial investor.
Mycronic joins the fund alongside 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).
“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,” says Anders Ösund, Founding & General Partner, Turbine Capital.
Turbine Capital’s final close comes amid several specialised European VC fund announcements in 2026.
In Sweden, Norrsken Evolve reached a €62 million final close, also backed by Saminvest and the European Investment Fund (EIF). Elsewhere in the Nordics, Copenhagen-based The Footprint Firm closed its €76 million climate and DeepTech fund, PSV Tech finalised a €56 million early-stage fund, and Climentum Capital secured a €60 million first close for climate HardTech investments.
France’s 360 Capital also announced an €85 million closing for its research-driven DeepTech fund Poli360 2.
Together with Turbine Capital, these announcements represent approximately €393 million in reported fund capital.
Source EU-Startups”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 DeepTech companies need to scale,” adds Pär Hedberg, founder of Sting, who also is initiator and co-founder of Turbine Capital.
Since its first close in April 2025, Turbine Capital says they have built a unique Nordic model for cross-sector collaboration in venture capital: close cooperation with seven university-affiliated incubators – ABI, Uminova, UIC, Sting, LEAD, GU Ventures and IDEON – combined with a broad base of industrial investors.
The model gives investors access to early-stage innovation, while portfolio companies gain access to capital, industrial expertise and customers.
As a new investor in Turbine Capital, Mycronic complements the fund’s existing industrial base. Mycronic is a high-tech company engaged in the development, manufacture and marketing of production equipment with high precision and flexibility requirements for the electronics industry.
The company is in a strong growth phase driven by AI-related infrastructure investments, and has at the same time strengthened its presence in defence-related electronics manufacturing. Mycronic brings deep expertise in semiconductor technology, photonics and advanced manufacturing – key areas within Turbine Capital’s investment thesis.
