TWENTYTHREE ADVISORY

Co-founders John Sjölander and Andreas Feuk jointly manage the firm's investment decisions. Sjölander brings operational experience from e-commerce and digital growth companies, while Feuk contributes a background in banking and capital deployment. Their combined oversight allows the firm to blend principal investing with hands-on advisory support for portfolio companies.

The firm leans heavily on the co-founders' networks across the Nordic and broader European startup ecosystems. John Sjölander's track record as an operator in consumer internet and e-commerce gives the firm direct access to early-growth-stage companies that may not run formal processes. This relationship-driven approach prioritizes direct founder introductions over intermediated auctions.

TWENTYTHREE ADVISORY targets growth-stage private companies in Europe, typically those that have moved beyond seed funding and demonstrate early commercial traction. The firm writes concentrated equity checks rather than spreading capital across many small positions. Its involvement with Juni, a Swedish fintech platform, reflects this preference for scaling-stage companies where the co-founders' operational experience adds value.

The firm's capital is deployed entirely through direct deals into private companies. There is no public record of fund-of-funds commitments or LP stakes in external venture capital funds. This direct-only posture supports the co-founders' thesis that concentrated, hands-on investing generates better alignment and better outcomes.

The investment mandate covers Europe, with a concentration in the Nordics, the United Kingdom, and Germany. The firm's Stockholm headquarters anchors its local network, but it pursues opportunities across the continent where consumer technology and internet brands are scaling.

The firm blends elements of a multi-family office with an advisory-led asset manager. The co-founders invest their own capital alongside the deployment of advised capital, and the advisory function provides strategic support to portfolio companies. This hybrid structure distinguishes it from traditional single-family offices that operate more passively or from pure fund managers that lack the advisory overlay.

The firm does not publicly maintain an exclusion list, but its investment pattern suggests it avoids deep-tech hardware, biotech, and heavy industrial sectors. The focus remains tightly on consumer-facing internet platforms, fintech, and digitally native consumer brands where the co-founders' experience provides a clear edge in sourcing and post-investment support.