Solo VC and Lovable investor Neil Murray raises third Nordic-focuse...
Overview
The Nordic red-hot startup movement continues On Tuesday, Neil Murray, founder and general partner at Copenhagen-based firm The Nordic Web Ventures, announced the close of a $6 million Fund III to continue investing in early-stage founders in the region The fund will focus on writing the first institutional checks to companies focused on robotics, AI-native companies, and deep tech founders
Why This Matters
Murray, a solo GP, told TechCrunch that his first two funds were “test vehicles” to prove his ability to spot and invest in top talent in the region Now, seven years later, he has written the first check into more than 50 companies, with a portfolio including the unicorn Lovable and the remote worker insurance company SafetyWing, and exits like the UI design company Uizard As TechCrunch previously reported, the Nordic ecosystem (which includes Denmark, Sweden, and Norway) is now valued at more than half a trillion dollars and received more than $8 billion in venture funding in 2024, making the region one of the hottest emerging markets in Europe
Key Insights
Murray said Fund III had more than $20 million in investor interest, but he decided to cap it at $6 million because he cares “more about alignment than AUM
” Staying small, he said, means he can better tie incentives to performance rather than management fees
Industry Impact
This development is expected to influence the technology industry, highlighting ongoing changes in innovation, competition, and adoption.
Final Thoughts
As the technology landscape continues to evolve, stories like this demonstrate why staying informed is increasingly important.
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