""test vehicles""
""more about alignment than AUM.""
""Capping the fund wasn't a constraint,""
""I believe it is more important to be investing in Tier 1 founders than to back Tier 2 founders and over-optimizing for ownership,""
Neil Murray, founder and solo general partner at Copenhagen-based The Nordic Web Ventures, closed a $6 million Fund III to invest in early-stage Nordic founders. The fund targets first institutional checks into robotics, AI-native, and deep tech companies with check sizes of around $200,000 and a plan to back 30–35 companies. The fund was capped at $6 million despite more than $20 million in interest to prioritize alignment over assets under management and to tie incentives to performance rather than management fees. The Nordic ecosystem spans Denmark, Sweden, and Norway, exceeds $500 billion in value, and raised over $8 billion in venture funding in 2024. Portfolio highlights include Lovable, SafetyWing, and an exit in Uizard.
Read at TechCrunch
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