Walerud Ventures

ActiveVenture Capital

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Updated: Jan 22, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Mar 1, 2025	Proception	$500K Seed	—	Eden Chen, Mandeep Singh, Nate Mitchell, Siqi Chen
Oct 1, 2024	AirForestry	$9.0M Seed	—	Kinnevik, Northzone, RRE Ventures, Sapphire Ventures, Tiger Global Management, Work-Bench, Fredrik Jung Abbou
Oct 1, 2024	Flower	$22.0M Series A	—	AirAngels, Ascend Venture Capital, Giant Ventures, Moonfire Ventures, Motier Ventures, Northzone, Space Capital, Speedinvest, Charles Gorintin, Fredrik Jung Abbou, Jean Charles Samuelian, Mathilde Collin, Riccardo Zacconi, Roxanne Varza, Varsha Rao
Aug 1, 2024	Flower	$28.0M Series A	—	Northzone, Fredrik Jung Abbou
Apr 1, 2024	Retell AI	$5.0M Seed	—	Creandum, Founders Fund, LGF, Y Combinator, Eden Chen, Kulpreet Singh, Mandeep Singh, Michael Stoppelman, Nate Mitchell, Tom Blomfield, Zachary Sims
Mar 1, 2024	Popularium	$2.0M Seed	—	QEY Capital, Eden Chen, Mandeep Singh, Nate Mitchell, Siqi Chen, Tom Blomfield
Mar 1, 2024	Kaedim	$15.0M Series A	—	AngelList, Menlo Ventures, Amjad Masad, Eden Chen, Mandeep Singh, Nate Mitchell, Siqi Chen, Tom Blomfield
Sep 1, 2023	Getir	$500.0M Series F	—	Adit Ventures, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, Norrsken VC, Northzone, QED Investors, Reimann Investors, TCV, Michael Abramson, Rashaun Williams, Tim Ringel, Victor Jacobsson
Feb 1, 2023	AirForestry	$2.0M Seed	—	Northzone
Sep 1, 2021	commercetools	$140.0M Series C	—	2050 Capital, Accel, Addition, Adit Ventures, Alpha Capital Acquisition Company, Angular Ventures, Base Partners, Boldstart Ventures, Casa Verde Capital, Cedar Capital Group, Elevar Equity, FJ Labs, General Atlantic, GE Ventures, Tom Hulme, Heavybit, H.I.G. Capital, IGNIA Partners, Inba Shenfeld holdings, Insight Partners, IVP, Kaiser Permanente Ventures, Kaszek Ventures, Khosla Ventures, Mindset Ventures, MYASIAVC PTE LTD, Newtopia VC, Norrsken VC, Northzone, QED Investors, Reimann Investors, Ribbit Capital, TCV, Alex Kayyal, Ameet Patel, Bradley Horowitz, Jamie Sutton, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson, Wences Casares
Aug 1, 2021	Yela	$2.0M Seed	—	Graph Ventures, Kli Capital, Mantis VC, Cory Levy, Eden Chen, Justin Mateen, Mandeep Singh, Michael Ryan Dubin, Nate Mitchell, Sean Rad, Siqi Chen, Tom Blomfield
Jun 1, 2021	Klarna	$640.0M Venture Round	—	Adit Ventures, Angel Invest, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, Norrsken VC, Northzone, QED Investors, Reimann Investors, TCV, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson
Jun 1, 2021	Prediko	$500K Seed	—	Adit Ventures, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, Norrsken VC, Northzone, QED Investors, Reimann Investors, TCV, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel
May 1, 2021	Frequencz	$4.0M Seed	—	Brightly Ventures, Luminar Ventures
Feb 1, 2021	Klarna	$1.0B Venture Round	—	10100, 2048 Ventures, 7percent Ventures, 8-Bit Capital, 8VC, Kevin Hartz, Adit Ventures, American Express Ventures, Andreessen Horowitz, Anorak Ventures, Bam Ventures, Adeyemi Ajao, Base Partners, Better Tomorrow Ventures, Bond, BoxGroup, Bullpen Capital, Canaan Partners, Casa Verde Capital, Catapult Capital, Comal Ventures, Craft Ventures, Kevin Ding, DST Global, First Round Capital, FJ Labs, Foundation Capital, Founders Fund, FPV Fund, General Atlantic, General Catalyst, Heretic Ventures, IVP, Long Journey Ventures, NKM Capital, Norrsken VC, Northzone, Paradigm, Pareto Holdings, Partners Resolute, Primitive Ventures, QED Investors, Quiet Capital, Reimann Investors, Saga, Sequoia Capital, Seven Seven Six, Sherpalo Ventures, Sound Ventures, Henry Fertik, Susa Ventures, SV Angel, TCV, The House Fund, Thrive Capital, Verified Capital, Y Combinator, Aaron Levie, Gianni Martire, Jacob Kerzner, Jared Leto, Joshua Reeves, Michael Abramson, Michael Moritz, Mikhail Seregine, Philip Kaplan, Rashaun Williams, Russell Cook, Sam Altman, Scott Banister, Scott Belsky, Shane Neman, Tim Ringel, Victor Jacobsson, Yishan Wong
Jan 1, 2021	Mambu	$140.0M Series D	—	Acton Capital Partners, Adit Ventures, Base Partners, Bessemer Venture Partners, Casa Verde Capital, Cedar Capital Group, FJ Labs, Fuse Venture Partners, General Atlantic, Insight Partners, IVP, Norrsken VC, Northzone, Point Nine Capital, Project A Ventures, QED Investors, Reimann Investors, Spintop Ventures, TCV, Third Point Ventures, UpWest, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson
Apr 1, 2020	Outstanding Foods	$5.0M Venture Round	—	Adit Ventures, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, K2 Global, Lever VC, Norrsken VC, Northzone, QED Investors, Reimann Investors, Sacramento Angels, TCV, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson
Jan 1, 2020	Getir	$38.0M Series A	—	Adit Ventures, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, Norrsken VC, Northzone, QED Investors, Reimann Investors, TCV, Tiger Global Management, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson
Jul 1, 2019	Mollie	$28.0M Series A	—	Adit Ventures, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, Norrsken VC, Northzone, QED Investors, Reimann Investors, TCV, WestCap, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson
Aug 1, 2018	Volumental	$1.0M Venture Round	—	—
Apr 1, 2018	Instacart	$150.0M Series E	—	Kevin Hartz, ACME Capital, Adit Ventures, Andreessen Horowitz, Base Partners, Bond, Broadstone, Casa Verde Capital, Catapult Capital, Chemistry VC, Comal Ventures, Craft Ventures, Electric Capital, FJ Labs, Founders Fund, Freestyle Capital, General Atlantic, Heretic Ventures, Highbury Group, IVP, Kleiner Perkins, Klossy, Norrsken VC, Northzone, Hans Tung, Pareto Holdings, Partners Resolute, QED Investors, Reimann Investors, Saga, SciFi VC, Sequoia Capital, SV Angel, TCV, Thrive Capital, Turtle Ventures, Uncork Capital, Verified Capital, Y Combinator, Biz Stone, Dan Martell, David Hauser, Jacob Kerzner, Jared Leto, John Collison, Jonathan Siegel, Michael Abramson, Michael Moritz, Mike Krieger, Philip Kaplan, Rashaun Williams, Sam Altman, Scott Belsky, Shervin Pishevar, Stewart Butterfield, Stuart Coulson, Tim Ringel, Victor Jacobsson, Yishan Wong
Mar 1, 2017	Instacart	$400.0M Series D	—	Kevin Hartz, Accenture, Adit Ventures, Andreessen Horowitz, Base Partners, Bond, Brainchild, Broadstone, Casa Verde Capital, Catapult Capital, Chemistry VC, Comal Ventures, Craft Ventures, Electric Capital, Scott Hartley, FJ Labs, Founders Fund, Freestyle Capital, General Atlantic, Heretic Ventures, Highbury Group, IVP, Kleiner Perkins, Klossy, LifeX Ventures, Norrsken VC, Northzone, Hans Tung, Pareto Holdings, Partners Resolute, QED Investors, Reimann Investors, Saga, SciFi VC, Sequoia Capital, SV Angel, TCV, Thrive Capital, Turtle Ventures, Uncork Capital, Y Combinator, Biz Stone, Dan Martell, David Hauser, David Petersen, Gianni Martire, Jacob Kerzner, Jared Leto, John Collison, Jonathan Siegel, Mark Pincus, Michael Abramson, Michael Moritz, Mike Krieger, Naveen Jain, Philip Kaplan, Rashaun Williams, Rick Morrison, Sam Altman, Scott Belsky, Stewart Butterfield, Stuart Coulson, Tim Ringel, Victor Jacobsson, Yishan Wong
Nov 1, 2016	Stripe	$150.0M Series D	—	75 & Sunny, Addition, Adit Ventures, Andreessen Horowitz, TJ Nahigian, Base Partners, Battery Ventures, BoxGroup, Buckley Ventures, Byers Capital, CapitalG, Casa Verde Capital, CP Ventures, DST Global, FJ Labs, Flexsteel Industries Inc., General Atlantic, General Catalyst, Highbury Group, Investo, IVP, Jazz Venture Partners, Norrsken VC, Northzone, QED Investors, Reimann Investors, Sequoia Capital, Softbank Group, Streamlined Ventures, Sutter Hill Ventures, TCV, Y Combinator, Zone 5 Ventures, Ding Zhou, Gordon Wintrob, Michael Abramson, Michael Moritz, Nikhil Krishnan, Rashaun Williams, Samvit Ramadurgam, Tim Ringel, Victor Jacobsson, Zak Kukoff
Jul 1, 2016	Racefox	$700K Seed	—	—
May 1, 2016	Embark	$2.0M Seed	—	Adit Ventures, Base Partners, Casa Verde Capital, FJ Labs, General Atlantic, IVP, Norrsken VC, Northzone, QED Investors, Reimann Investors, TCV, Michael Abramson, Michael Moritz, Rashaun Williams, Tim Ringel, Victor Jacobsson

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Walerud Ventures.

Leadership Team

Key people at Walerud Ventures.

Deep Dive

High-Level Overview

Walerud Ventures is a Nordic venture capital firm specializing in pre-seed and seed-stage investments primarily in deep tech sectors that focus on sustainability and impact, often described as "deep tech for the living planet." Their mission centers on being the first investor and last cofounder, providing hands-on operational support to early-stage startups to help them scale successfully. Key sectors include health tech, sustainable energy, biotechnology, AI, 3D technology, fintech, and telecom. The firm’s approach emphasizes close collaboration with startups, often acting as advisors or part-time team members, which significantly impacts the Nordic startup ecosystem by nurturing high-potential deep tech ventures from inception[1][3][4][5][7].

Origin Story

Founded in 2002 and based in Stockholm, Sweden, Walerud Ventures is a family-owned investment firm led by angel investor Jane Walerud, her husband Bengt Walerud, and their daughter Caroline Walerud, who is also a tech entrepreneur (co-founder of Volumental). The firm evolved from angel investing into a focused venture capital fund with a strong emphasis on deep tech and sustainability. Their early involvement in startups and hands-on operational support has been a defining feature since inception, enabling them to help shape company strategy, team building, and sales from the earliest stages[2][3][5].

Core Differentiators

Unique Investment Model: Focus on pre-seed and seed deep tech startups with a "first investor, last cofounder" philosophy, meaning they stay deeply involved beyond just capital provision.
Hands-On Support: Act as advisors, part-time employees, and operational partners, helping with everything from team setup to trade show staffing.
Selective Portfolio: They take on only a few startups at a time to ensure quality and depth of support.
Strong Nordic Network: Leveraging family and professional networks in Sweden and the broader Nordic region.
Track Record: Over 50 deals with notable exits, demonstrating expertise in identifying scalable innovation in tech and healthcare sectors[1][3][4][7].

Role in the Broader Tech Landscape

Walerud Ventures rides the rising global trend of deep tech and sustainability-focused innovation, which is increasingly critical due to climate change and technological disruption. Their timing is strategic as Nordic countries are leaders in clean tech, biotech, and AI, supported by strong government policies and a collaborative innovation ecosystem. By focusing on early-stage companies with high-impact potential, Walerud Ventures helps accelerate the commercialization of breakthrough technologies that address planetary challenges, thus influencing the broader ecosystem by setting a standard for active, mission-driven venture capital[1][4][5].

Quick Take & Future Outlook

Looking ahead, Walerud Ventures is well-positioned to capitalize on growing investor and market interest in climate tech, health tech, and AI-driven solutions. Their deep involvement model and family-driven ethos may allow them to maintain a competitive edge in sourcing and scaling transformative startups. As global demand for sustainable technologies intensifies, Walerud Ventures’ influence in shaping the Nordic deep tech ecosystem is likely to grow, potentially expanding their geographic reach and sector focus while continuing to prioritize impact and operational partnership.

Their commitment to being the "first investor, last cofounder" suggests a future where they deepen their operational role, possibly evolving into a hybrid venture studio model, further embedding themselves in the success of their portfolio companies[1][5][7].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: Focus on pre-seed and seed deep tech startups with a "first investor, last cofounder" philosophy, meaning they stay deeply involved beyond just capital provision.
Hands-On Support: Act as advisors, part-time employees, and operational partners, helping with everything from team setup to trade show staffing.
Selective Portfolio: They take on only a few startups at a time to ensure quality and depth of support.
Strong Nordic Network: Leveraging family and professional networks in Sweden and the broader Nordic region.
Track Record: Over 50 deals with notable exits, demonstrating expertise in identifying scalable innovation in tech and healthcare sectors[1][3][4][7].