Turbine Capital

Turbine Capital (TCAP Fund I AB) is a Stockholm-based early-stage venture capital fund dedicated exclusively to deep tech startups. Initiated by Sting, one of Europe's leading deep tech incubators, and co-founded by Pär Hedberg, Anders Ösund, and Karin Edström, the fund targets pre-seed to pre-Series A companies with initial tickets of €0.3M–€0.7M and selective follow-on investments. It announced its first close in April 2025, securing approximately 40% of its €75M target. The fund operates with a 15-year investment horizon and aims to back 30–40 deep tech startups, primarily in Sweden and the Nordic region. Backed by industrial LPs including Saab Ventures, Volvo Cars Tech Fund, Stena Sessan, and anchor investor Saminvest, as well as a commitment from the European Investment Fund (SEK 170M), Turbine Capital provides portfolio companies with capital, corporate access, and connections to seven university-affiliated partner incubators across Sweden. The fund can lead rounds and help structure syndicates. Founders can reach out via contact@turbinecapital.vc or the website contact page.