Turbine Capital is a Stockholm-based venture capital firm investing in early-stage deeptech startups, combining capital with industrial connections and access to Sweden's top university-affiliated incubators.
Turbine Capital backs early-stage deeptech companies across semiconductors, industrial digitalization, space technology, and climate-relevant infrastructure, with additional interest in AI and data analytics, advanced materials, robotics and industrial automation, quantum computing, and security technology.
The firm invests primarily in Swedish startups, with selective investments elsewhere in the Nordic region.
The firm typically invests at the pre-seed through Series A stages, writing initial checks of roughly $300,000 to $700,000, with the flexibility to make selective follow-on investments in its strongest-performing portfolio companies.
Turbine Capital positions itself as a bridge between early-stage founders and large industrial corporations, offering portfolio companies direct access to corporate partners, customer introductions, and support navigating long technology-development cycles.
Turbine Capital closed its debut fund, Turbine Capital Fund I, at approximately $60.6 million.
The fund was initiated by Pär Hedberg, founder of Stockholm-based innovation hub Sting, first announcing a partial close in April 2025 before reaching its final close in October 2026.
The fund's investors include the European Investment Fund, Swedish state-owned venture investor Saminvest, and a group of industrial corporations: Saab, Scania, Volvo Cars, Stena, and Mycronic.
The fund also draws dealflow from a network of Swedish university-affiliated incubators, including Sting (Stockholm), IDEON (Lund), GU Ventures (Gothenburg), LEAD (Östergötland), UIC (Uppsala), Uminova (Umeå), and ABI (Luleå). Turbine Capital plans to back 30 to 40 deeptech startups over a 15-year investment horizon.
Leadership
Turbine Capital was initiated by Pär Hedberg, founder and former CEO of Sting.
The fund is led by Managing Partners Karin Edström and Anders Ösund, with Daniel Tano serving as Senior Associate.
Investment Strategy
Turbine Capital invests in early-stage deeptech startups emerging from Swedish research institutions and incubators, with initial check sizes of roughly $300,000 to $700,000.
The firm emphasizes industrial partnerships over purely financial backing, connecting portfolio companies with corporate investors for customer access, commercial validation, and follow-on fundraising support.
Notable Investments
Pär Hedberg, Founder
Karin Edström, Managing Partner
Anders Ösund, Managing Partner
Daniel Tano, Senior Associate
Sweden
