# Northern CapSek Ventures

Northern CapSek Ventures is a Venture Capital based in Gothenburg, Sweden.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Gothenburg, Sweden
- **Region:** Europe
- **Address:** Vallgatan 25, 411 16 Göteborg, Sweden
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** capsek.se
- **LinkedIn:** https://www.linkedin.com/company/northern-capsek-ventures

## Regulatory record

- **Reports private funds:** No

## About

Northern CapSek Ventures is a venture capital firm based in Gothenburg, Sweden. The firm prefers to invest in adtech, agtech, big data, and tech.

## Sectors

- Enterprise Software
- AI/ML
- Gaming
- IoT

## Offices

- Piteå, Sweden

## People

- Henrik Jonsson — CEO
- Göran Carlson — Investment Manager, Region North
- Robin Karlsson — CFO
- Anders Sundström — Chairman of the Board
- Lennart Pihl — Board Member

## Questions

### How does CapSek source its deal flow?

CapSek deliberately positions deal-sourcing offices in Gothenburg and Piteå to cultivate local networks of angel investors, industrial contacts, and regional incubators far from Stockholm's competitive venture markets. Investment Manager Göran Carlson, stationed in the north, had previously run his own angel network, Carlson Invest, for over 20 years and worked with the Arctic Business incubator. The firm also publishes an annual research report profiling the 50 most interesting tech companies outside Stockholm, using the publication to surface targets and cement its brand among regional founders.

### What investment stages does CapSek target?

CapSek targets the transition point from startup to scaleup — a stage where the business model is proven and the company is raising A-round expansion capital of 10–30 MSEK. The firm explicitly avoids earlier, pre-revenue seed-stage risk. Its target portfolio of 20–25 companies skews predominantly toward unlisted equity positions, though it can hold listed companies that align with its tech thesis.

### Who runs investment decisions at Northern CapSek Ventures?

Investment sourcing and portfolio management are led by CEO Henrik Jonsson, who spent 13 years executing direct growth-stage investments at AP6, Sweden's Sixth National Pension Fund. Regional sourcing authority is delegated to Investment Manager Göran Carlson for northern Sweden. The board — chaired by Anders Sundström, a former IT entrepreneur and municipal commissioner — ratifies investment decisions, but day-to-day pipeline evaluation and structuring sit with the management team.

### Does CapSek take fund commitments or make direct investments only?

CapSek makes direct equity investments into operating companies, not fund commitments. It does not operate as a fund-of-funds. The vehicle is a publicly listed holding company, meaning shareholders own a direct interest in the portfolio rather than limited-partner stakes in a commingled fund structure. To date, no commitment to an external GP fund has been disclosed.

## Related profiles

- [Northern Capital Management](https://altss.com/profile/northern-capital-management)
- [Northern Gritstone](https://altss.com/profile/northern-gritstone)

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Last updated: 2026-05-29T11:08:11.198Z

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