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Finstart Nordic
David Baum runs Finstart Nordic, the corporate venture arm of SpareBank 1 Sør-Norge, deploying balance-sheet capital into Norwegian seed-stage fintech.
Finstart Nordic
Finstart Nordic is the investment arm of SpareBank 1 Sør-Norge, focusing on fintech, technology, and impact companies in the financial services sector. It invests in seed and early-stage growth companies, typically investing NOK 2-10 million per round. Finstart Nordic was founded in 2018 and is based in Oslo, Norway.
General information
Firm type
Generalist
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Norway
City
Oslo
Corporate office
Oslo, Norway
Principals
David Baum
Managing Director
Ramtin Matin
Head of Innovation at SpareBank 1 SR-Bank
Frode Bø
Chairman of the Board
Sector focus
Frequently asked questions
Who runs investment decisions at Finstart Nordic?
Managing Director David Baum leads day-to-day investment operations alongside Chairman Frode Bø. SpareBank 1 SR-Bank's Head of Innovation, Ramtin Matin, also plays a key role in portfolio management, reflecting the close operational integration between Finstart Nordic and the wider SpareBank 1 alliance.
How is Finstart Nordic related to SpareBank 1 Sør-Norge?
Finstart Nordic is a wholly owned subsidiary of SpareBank 1 Sør-Norge, the listed Norwegian banking group. The bank founded the entity as its dedicated early-stage investment vehicle, and Finstart deploys capital directly from the parent company's balance sheet rather than from a committed fund structure.
Does Finstart Nordic participate in fund commitments or only direct deals?
Finstart Nordic makes direct equity investments into early-stage companies. There is no publicly disclosed fund-of-funds activity or third-party LP commitments. The firm co-invests alongside other Norwegian financial institutions, including DNB Ventures, in ventures such as the fintech startup Celsia.
What investment stages does Finstart Nordic target?
The firm focuses on early-stage companies, specifically at the seed and start-up phases. Its strategy is to provide initial capital and then integrate these companies into the banking ecosystem to drive product development and commercial growth.
Which sectors does Finstart Nordic explicitly invest in?
Finstart Nordic's identified focus areas are financial technology and enterprise software. The firm looks for startups that can align with the bank's technology stack and customer-facing services, evidenced by partnerships with technology vendors like boost.ai and Justify.
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