About Swedfund
Swedfund is a venture capital firm founded in 1979. It is primarily based out of Stockholm, Sweden. As of Jul 2026, Swedfund is an active investor, having invested in 82 companies, with 7 new investments in the last 12 months. It primarily invests in Conventional Debt round in Kenya based startups. Its investments are spread across a wide range of sectors from Financial Services to Energy and Environment. Most recently it participated in the $***** Conventional Debt round of Emerging Markets Global Advisory Overall, Swedfund portfolio has seen 1 unicorn, 12 IPOs and 12 acquisitions including key companies like Investec, Access Bank and Moniepoint. A lot of funds co-invest with Swedfund, with names like FMO sharing a substantial percentage of its portfolio. Swedfund has team of 45 people including 5 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Conventional Debt, Series B & 9 more
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Swedfund's List of Top Investments
Swedfund has a portfolio of 82 companies, one of which is a Unicorn. Their most notable investments are in AAR Health Care and Moniepoint.Their portfolio spans across Kenya, United Kingdom, United States and 32 more locations. They have invested in Financial Services, Energy, Environment and 18 other sectors, across stages such as Conventional Debt, Series B and 9 more. Here is the list of top investments by Swedfund:
AI-powered distributed energy platform delivering clean, reliable power in Global South. The company powers prosperity by providing renewable electricity to unserved and underserved communities. It utilizes an AI-enabled distributed energy resources (DER) platform to serve communities, commercial & industrial (C&I) businesses, and individual households. It offers flexible “pay-as-you-go” options. The company's assets are grid interoperable, supporting national electrification efforts. The platform leverages artificial intelligence to optimize energy demand, maximize renewable energy mix, and enhance customer service. It focuses on clean energy, renewable energy, solar power, rural electrification, energy access, commercial and industrial solar, rural e-commerce, digital finance, distributed renewable energy, community solar, and solar minigrids.
Key facts about Husk Power Systems
- Founded Year: 2008
- Location: Fort Collins (United States)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Stage: Series D
- Total Funding till date: $74.3M
- Employee Count: 466 as on Sep 30, 2026
- Investors: Shell, Engie and 18 Others
- Latest Funding Round: Conventional Debt, Sep 10, 2025, $*****
- Highlight: Editors' Pick
2. Investec
Specialist bank and wealth manager serving private and institutional clients. It focuses on delivering tailored financial strategies, combining global expertise with personalized service to help clients achieve their financial objectives. Its offerings include private banking, investment management, asset management, and advisory services, catering to diverse needs such as retirement planning, portfolio management, corporate finance, and lending.
Key facts about Investec
- Founded Year: 1974
- Location: London (United Kingdom)
- Annual Revenue: ₹100 - ₹500 Cr as on Mar 31, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Employee Count: 9,769 as on Sep 30, 2026
- Investors: RBS International, Swedfund and 1 Other
- Latest Funding Round: Grant (prize money), May 14, 2019, $*****
- Highlight: Acquired
3. d light
{}
Key facts about d light
- Founded Year: 2004
- Location: Nairobi (Kenya)
- Stage: Series E
- Total Funding till date: $118M
- Employee Count: 107 as on Feb 28, 2025
- Investors: Nexus Venture Partners, Shell and 38 Others
- Latest Funding Round: Conventional Debt, Feb 20, 2024, $*****
4. Access Bank
Key facts about Access Bank
- Founded Year: 1989
- Location: Lagos (Nigeria)
- Stage: Public
- Employee Count: 24,382 as on Sep 30, 2026
- Investors: European Investment Bank, Proparco and 9 Others
- Latest Funding Round: Conventional Debt, Aug 19, 2020, $*****
- Highlight: Public
5. Moniepoint
Provider of integrated financial services for businesses and individuals. It offers a comprehensive platform encompassing payments processing, banking solutions, credit facilities, and business management tools. These services are designed to streamline financial operations and facilitate growth for its clientele. The platform aims to provide seamless access to essential financial resources.
Key facts about Moniepoint
- Founded Year: 2019
- Location: London (United Kingdom)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $266M
- Employee Count: 5,815 as on Sep 30, 2026
- Investors: Visa, QED Investors and 22 Others
- Latest Funding Round: Series C, Nov 03, 2025, $*****
- Highlight: Editors' Pick
Swedfund's Year-on-Year Investment Trends
Swedfund has invested in 83 companies over the last 26 years, with an average of 3 new investments annually in the last 10 years. In 2025, it made 6 investments, while as of Jul 2026, it has made 4 investments in this year. Its most recent first time investment was in Emerging Markets Global Advisory and most recent follow-on round was in Victoria Commercial Bank.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 0 | 4 |
2025 | 5 | 1 | 6 |
2024 | 4 | 0 | 4 |
2023 | 1 | 2 | 3 |
2022 | 1 | 0 | 1 |
2021 | 0 | 2 | 2 |
2020 | 1 | 0 | 1 |
2019 | 3 | 0 | 3 |
2018 | 7 | 1 | 8 |
Swedfund's Investments by Stage
Swedfund has made 30 investments in Conventional Debt stage with an average round size of $24.4M, 6 investments in Series B stage with an average round size of $27.2M and 5 investments in PE stage with an average round size of $28.4M.Stage of entry | No. of Investments |
|---|---|
Conventional Debt | 30 |
Series B | 6 |
PE | 5 |
Series C | 3 |
Seed | 2 |
Others | 8 |
Note: We have considered here, only first round of investments
Swedfund's Investments by Sector
Swedfund has a diverse portfolio, with companies operating in the Financial Services, Energy, Environment, Consumer and FinTech. Notably, it has invested in 31 Enterprise (B2B) companies, 19 Consumer (B2C) companies, 16 Social impact companies and at least 7 companies focusing on Tech.Sector | No. of Investments |
|---|---|
Financial Services | 24 |
Energy | 7 |
Environment | 6 |
Consumer | 3 |
FinTech | 3 |
Others | 18 |
Note: We have considered here, only first round of investments
Swedfund's Investments by Geography
Swedfund has made most investments in Kenya (10), followed by Nigeria where it has made 4 investments.Country | No. of Investments |
|---|---|
Kenya | 10 |
Nigeria | 4 |
United Kingdom | 4 |
India | 3 |
Cambodia | 2 |
Others | 32 |
Note: We have considered here, only first round of investments
Swedfund's recent investments
Swedfund has made 4 investments in 2026 so far. Emerging Markets Global Advisory and Jacaranda Maternity are the latest among them.Here are the most recent investments by Swedfund:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 01, 2026 | United Kingdom | Conventional Debt | 9048 | - | |
Feb 24, 2026 | Kenya | Conventional Debt | 8277 | - | |
Feb 19, 2026 | France | Series B | 7712 | - | |
Jan 02, 2026 | India | Series D | 3480 | ||
Dec 20, 2025 | Vietnam | Conventional Debt | 4861 | - |
Unicorns in Swedfund's Portfolio
Swedfund has 1 unicorn in its portfolio - Moniepoint. The most recent unicorn in their portfolio is Moniepoint which became a unicorn in 2024, 1 years before Swedfund first invested in it.Here is a list of unicorns in Swedfund's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
76 | Provider of integrated financial services for business and individual users | 2019 | London | Series C | {erwnpx |
IPOs and Publicly Listed companies in Swedfund's Portfolio
12 of Swedfund's portfolio companies have become public. Five Star Business Finance got listed on the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), in Nov 2022 at marketcap of $1.69B and Ninety One got listed on the Johannesburg Stock Exchange (JSE).Here are Swedfund's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Nov 21, 2022 | Mar 29, 2022 | Conventional Debt | 7709 | |
Mar 16, 2020 | - | - | 8029 | |
Nov 08, 2019 | - | - | 6805 | |
Aug 23, 2018 | - | - | 3510 | |
Oct 17, 2016 | Feb 09, 2018 | Conventional Debt | 7521 |
Acquired companies in Swedfund's Portfolio
12 companies from Swedfund's portfolio have been acquired. The most recent acquisition was SUSI Partners in Sep 2025 by Gresham House for $*****.Here are Swedfund's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Sep 19, 2025 | - | - | 5816 | |
Jul 25, 2023 | Apr 13, 2018 | Series A | 7862 | |
Jun 20, 2022 | - | - | 5599 | |
Nov 24, 2020 | 2010 | Unattributed | 4285 | |
Feb 26, 2020 | 2009 | PE | 9465 |
Team profile of Swedfund
Swedfund has a team of 45 members including 5 Partners and 5 Principals located in Sweden and Thailand. Swedfund's team sits on the board of 1 company.Here is a list of top team members in Swedfund:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Stockholm | - | ||
Partner | Stockholm | - | ||
Partner | Stockholm | - | ||
Partner | Sweden | - | - | |
Partner | Sweden | - | - | |
Principal | Bangkok | - | ||
Principal | Stockholm | - | ||
Principal | Stockholm | - | ||
Principal | Stockholm | - | ||
Principal | Sweden | - |
Co-investors of Swedfund
Over the past 26 years, 265 investors have co-invested in Swedfund's portfolio companies. This includes funds and angels.
- Invested before Swedfund: Norfund, FMO and 166 others have invested in rounds before Swedfund. There are 5 companies where Norfund has invested before Swedfund and 5 companies where FMO has invested before Swedfund.
- Top Co-investors of Swedfund: 23 investors entered a company along with Swedfund. These include investors like FMO (6 companies).
- Invested after Swedfund: A total of 74 investors have invested in Swedfund's portfolio after their investments. Top Investors include FMO (6 companies), Proparco (4 companies) and Finnfund (4 companies).
Recent News related to Swedfund
•
Swedfund Invests $20 Million in Africa Go Green Fund for Energy Efficiency SolutionsBusiness a.m•Aug 28, 2026•Swedfund
•
Swedfund Invests $12 Million in Acumen Resilient Agriculture Fund II (ARAF II)IT Finans•Jul 30, 2026•Swedfund, Acumen
•
Acumen Resilient Agriculture Fund Secures $90 Million for Climate-Resilient Farming in AfricaiGrow News•Jul 20, 2026•ARAF, Green Climate Fund, Acumen, Proparco and 3 others
•
Swedfund Increases Investment in TLG Africa Growth Impact Fund by $5 MillionTechMoran•Jul 07, 2026•Swedfund, TLG Capital
•
Swedfund Invests USD 15 Million in CDB to Boost MSME Financing in Sri LankaIT Finans•Jul 01, 2026•Swedfund, CDB
•
EMGA Arranges $15 Million Senior Debt Facility for Sri Lanka's CDBNewswire•Jun 30, 2026•Swedfund, EMGA, CDB
•
PE Firm Navegar Secures $15m from Swedfund to Support Philippine Mid-sized CompaniesCrowdfund Insider•Jun 28, 2026•Navegar, Swedfund, FMO
•
Swedfund Invests $600,000 in Jacaranda Health to Expand Maternity Services in KenyaTechMoran•Mar 17, 2026•Jacaranda Health, Swedfund
•
Swedfund backs Indian agri-tech startup Arya.ag with $7.5mTech in Asia•Mar 09, 2026•Arya.ag, Swedfund
•
Development finance institutions back Hummingbirds to design community-driven nature projectsImpactAlpha•Feb 23, 2026•hummingbirds, British International Investment, Proparco, Swedfund
