In Q2 2016, we tracked 23 Norwegian investments totalling $70.86M
(For the first time ever, we are producing individual quarterly funding analyses for each Nordic country, to place the Norwegian analysis in context, check out the Q2 2016 Nordic Funding Analysis)
Let’s get this out the way early, Q2 2016 was the best quarter Norway has ever seen both for the number of investments and the amount of investment.
This is best demonstrated by the fact that Q2 in 2015 saw just 6 investments compared to the 23 in Q2 2016, and the rise per quarter has been happening ever since.
The total amount of funding is also going in the same direction, with an increase every quarter resulting in a record high this quarter. However, it should be recognised that we will likely see a drop off in Q3 and Q4 due to some particular high rounds in Q2.
This record quarter helped Norway claim 16.8% of the funding into the Nordics in Q2, raising more than Finland in a quarter for the first time.
Norway also recorded more investments than Finland in Q2, pressing home just how impressive a quarter it was for Norwegian companies attracting capital.
As mentioned previous, Norway’s total was helped by a number of companies raising particularly large rounds.
Looking at the number of investments by size, this paints a rather healthy picture of companies raising capital at a number of stages.
The number of funding rounds increased at all stages and sizes (apart from $20 million+) when comparing the size of investments in Q2 2016 to Q2 2015, demonstrating the improvement of funding in Norway at all levels.
In conclusion, with Q2 2016 so impressive for Norway the challenge is now figuring out how to maintain it and sustain the momentum. In terms of the amount raised this quarter that will be incredibly hard, however, if the number of investments can breach 20 again in Q3, Norway may finally be beginning to see true signs of an investment ecosystem emerging.