Sandwater is an Oslo-based venture capital firm backing early-stage European companies that build solutions for global challenges. The firm focuses on resource efficiency, energy transition, productivity, and resilience, and closed its first fund at 1.4 billion NOK (approx. €125M / $136M) in January 2024.
33% of their portfolio is in Food & Agriculture. Their most common stage is series-a (62% of deals). Average disclosed round size is $34.0M (across 13 rounds with reported amounts).
Portfolio
14
Fund Size
$136M
Top Stage
Series A
Last 12 Mo
3
Team
Chloe Fu
Investment Manager, Stockholm
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
24 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 CurifyLabs | Series A | $14M | Jul 2026 |
 Alva Industries | Growth | — | Jul 2026 |
 Mantle8 | Series A | — | May 2026 |
| Alva Industries | Unknown | — | Jan 2026 |
| CurifyLabs | Series A | $14M | Jan 2026 |
 Nofence | Series A | $35M | Sep 2025 |
| Nofence | Series B | $35M | Sep 2025 |
 Nofence | Series B | $35M | Sep 2025 |
| EEnduro Genetics | Series A | $12.6M | Feb 2025 |
| Nofence | Series B | $35M | Jan 2025 |
 Xo Life | Unknown | — | Aug 2024 |
 1X | Series B | $100M | Jan 2024 |
 CardioSignal | Series A | $10M | Jan 2024 |
 FarmInsect | Series A | — | Oct 2023 |
| CCytovation | Series A | $8M | Jun 2023 |
| 1X | Series B | $100M | Mar 2023 |
| FarmInsect | Series A | — | Jan 2023 |
| 1X | Series A | $23.5M | Jan 2023 |
| CCytovation | Series A | $20M | Jan 2022 |
 Evyon | Series A | — | Jan 2022 |
| DDelft IMP | Series A | — | Oct 2021 |
| DDelft IMP | Series A | — | Jan 2021 |
 Soil Capital | Series B | — | — |
| Nofence | Series A | — | — |
Top Co-Investors
Speedinvest5 shared
Capagro4 shared
EQT Ventures3 shared
OpenAI Startup Fund3 shared
Tiger Global Management, LLC3 shared
Bayern Kapital3 shared
Samsung Next2 shared
Statkraft Ventures2 shared
Emerald Technology Ventures2 shared
Invest-NL2 shared
Tesi2 shared
HealthCap2 shared
Lifeline Ventures2 shared
Alltek Technology Corp.2 shared
Vi Partners1 shared
Grazia Equity1 shared
Aescuvest1 shared
Last updated: 20 October 2026