Fåhraeus Startup and Growth Fund

Overview

Fåhraeus Startup and Growth Fund (FSG) is a Swedish venture capital firm based in Lund, investing from Seed to Series A with EUR 1–6M per company. Its current focus covers digital health, medtech, diagnostics and life science tools. The firm backs businesses combining life science and technology, with an emphasis on commercial traction and evidence of product-market fit. Investments can be deployed over time as companies reach key milestones. FSG works with founders on growth, hiring, strategic partnerships and fundraising, drawing on its team’s operational backgrounds and sector networks. Scandinavia is its home market, while its stated ambitions extend across Europe and include collaboration with Nordic universities. Established in 2021, FSG grew out of Fårö Capital, the family office Christer Fåhraeus founded in 2000. FSG Fund II launched in 2023 and announced its final close at SEK 848 million on 30 January 2025. The European Investment Fund committed SEK 233 million to the fund. Saminvest is another institutional investor and lists SEK 150 million pledged to FSG Fund II as of 30 June 2026. Key people are Christer Fåhraeus, General Partner; Linus Wiebe, Managing General Partner; and Johanna Asklin, General Partner. Fåhraeus has founded and developed technology and life science businesses including CellaVision and Anoto. Wiebe’s background includes Lund University’s innovation activities and roles at Ericsson and ARM. Asklin brings experience in life science strategy and business development, including work at SAGA Diagnostics and LU Innovation. The firm’s published portfolio includes several distinct healthcare business models. Yazen combines digital weight-management care with medical treatment and lifestyle support, while Din Psykolog provides online mental healthcare through licensed psychologists and video therapy. In medtech, Promimic develops bioactive implant-surface technology designed to improve integration with bone. Yazen is listed under FSG Fund I; Din Psykolog and Promimic are listed under FSG Fund II. Life science tools investments include Fida Biosystems, a Danish company developing platforms for analysing biomolecules and nanoparticles, and Trackpaw Scientific, whose sensors and machine learning support animal monitoring in preclinical research. FSG announced its participation in a EUR 5 million extension of Fida’s Series A financing in December 2025, alongside existing investor EIFO. Its disclosed investment history also includes SAGA Diagnostics, a precision oncology diagnostics company focused on detecting molecular residual disease.