- RunwayVC has reached a €40 million first close for its Fund II, with Aker continuing as a cornerstone investor and new limited partners including Halliburton, Aker BP, Aker Solutions, KLP, and Investinor.
- Fund II has already made its first two investments in Minerva Humanoids, which develops rugged humanoid robots for industrial operations, and HIVE Autonomy, a company focused on making industrial machines autonomous.
- Since its inception in 2022, RunwayVC's Fund I has invested in 24 companies, completed 23 follow-on investments, and achieved two exits.
- The portfolio companies of Fund I have collectively raised over NOK 2 billion in external capital.
Norway's RunwayVC has announced a €40 million first close for its second fund, targeting industrial technology startups. Aker continues as a cornerstone investor, with new limited partners including Halliburton and KLP, Norway's largest pension company.1
The firm aims to make around 20 investments over the next three to five years, focusing primarily on Norway and the Nordics, while also considering opportunities in Europe and the US. Tor Bækkelund, Founder and Managing Partner at RunwayVC, stated, “We are in the middle of a technology shift in industry that will create the next generation of global technology companies.” Since 2022, RunwayVC has invested in 24 companies through its first fund, achieving two exits and completing 23 follow-on investments. The first two investments from Fund II include Minerva Humanoids, which is developing rugged humanoid robots for hazardous industrial tasks, and HIVE Autonomy, a Norwegian company making existing industrial machines autonomous.23
The fund's strategy is bolstered by the involvement of several LPs who are also industrial operators, potentially becoming buyers of the technologies supported by RunwayVC. The firm has established a strong position in the evolving industrial tech landscape, aiming to back companies that will define the future of the industry.
“Fund II has already deployed capital into Minerva Humanoids, developing rugged robots for hazardous industrial work, and HIVE Autonomy, whose technology is in use across Scandinavia. RunwayVC's Fund I portfolio companies have collectively raised over NOK 2 billion in external capital.”
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