# ProVenture

ProVenture is a Venture Capital based in Trondheim, Norway.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Trondheim, Norway
- **Region:** Europe
- **Address:** Trondheim, Norway
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** www.proventure.no
- **LinkedIn:** https://www.linkedin.com/company/proventure

## Regulatory record

- **Reports private funds:** No

## About

ProVenture is a seed and early stage venture investor focused on digital technology. With three funds under management totaling 1.3 billion NOK, it supports early-stage startups with experience and hands-on guidance. Since 2006 it has partnered with more than 100 founders, and its teams in Trondheim and Stavanger combine entrepreneurial experience with strategic insight.

## Sectors

- Enterprise Software
- AI/ML
- Industrial Tech
- Robotics & Automation
- Digital Health
- Energy Transition & Renewables
- Mobility & Transportation

## Offices

- Stavanger, Norway

## People

- Geir Ove Kjesbu — Managing Partner
- Borgar Ljosland — Partner
- Ingvar Katmo — Partner
- Tom Arnøy — Partner
- Frederik Hvistendahl — Partner
- David Lysne — Partner

## Questions

### Who runs investment decisions at ProVenture?

Geir Ove Kjesbu serves as Managing Partner and leads a six-partner team that makes all investment decisions collectively. Kjesbu previously spent eight years as CEO of Investinor, Norway's state-backed early-stage investor, and held senior roles at Q-Free ASA before joining ProVenture in 2018. The partnership includes former founders — Tom Arnøy took ZEDGE public on the NYSE — and industrial executives with decades of operating experience in oil services and R&D.

### How does ProVenture source deal flow?

ProVenture sources exclusively within Norway, leaning heavily on the partnership's deep industrial and entrepreneurial networks in Trondheim, Stavanger, and Oslo. Because several partners are former startup CEOs and board chairs, much of the proprietary flow comes through founder referrals, academic spin-outs from NTNU, and connections built during decades in Norwegian oil, gas and technology services. The firm does not market a formal scout program or external advisory network.

### Does ProVenture participate in fund commitments or only direct deals?

ProVenture invests directly from its own balance sheet of funds and does not publicly disclose a fund-of-funds program or LP commitments into other venture firms. The firm's model is built on sourcing, diligencing, and holding direct equity stakes in Norwegian digital-technology startups from seed stage onward.

### Which sectors does ProVenture explicitly avoid?

ProVenture does not publish an exclusion list. However, its stated focus on 'digital technology' and its portfolio pattern — SaaS, robotics, digital health, sensor fusion, energy modeling — suggest it avoids capital-intensive biotech, therapeutics, deep hardware manufacturing, and non-digital consumer goods.

## Related profiles

- [Proventeus Capital](https://altss.com/profile/proventeus-capital)
- [Proven Venture Capital](https://altss.com/profile/proven-venture-capital)

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Last updated: 2026-08-11T15:07:49.000Z

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