Investinor AS

992 447 141 ↗Venture and development capital companies
identity
AS · est 2008TrondheimParent · 9 subsidiarieswas STATENS INVESTERINGSSELSKAP AS →2008
Brreg · companies
Employees31
CEO · since2024-05-06Sten-Roger Karlsen
Chair · since2026-02-14Hans Aasnæs
  • 2026-05-14: 32
  • 2026-07-18: 31
  • 2026-07-25: 31
Roles from Brreg, shown for business contact only. No birth date is shown or exported (purpose limitation, GDPR Art. 6(1)(f)).
Brreg · company_people
8 registered roles
Daglig lederSten-Roger Karlsen Multiple boards2024-05-06
Styrets lederHans Aasnæs Multiple boards2026-02-14
StyremedlemAnne Kathrine Slungård Multiple boards2026-02-14
StyremedlemBjørn Erik Reinseth Multiple boards2026-02-14
StyremedlemHenrik Lie-Nielsen Multiple boards Serial CEO2026-02-14
StyremedlemHanne Nordgaard Multiple boards2026-02-14
StyremedlemErik Wold Multiple boards2026-02-14
VaramedlemRonny Vikdal Multiple boards2026-02-14
register ledger · people
2026-07-25regemployees_change: employees32 -> 31
2026-07-18regemployee_change: antallAnsatte32 -> 31
2026-05-14regemployee_change: antallAnsatte33 -> 32
NOK, amounts in thousands
20242025
Revenue81 01081 515
Operating result401−9 724
Result before tax−431 135195 906
Net result−431 135195 906
Total assets5 093 6885 335 548
Equity4 840 1655 071 531
202020212022202320242025
Revenue81 01081 515
Operating result401−9 724
Result before tax−431 135195 906
Net result−431 135195 906
Total assets5 093 6885 335 548
Equity4 840 1655 071 531
filed group accounts (konsernregnskap)
20242025
Revenue398 159
Operating result296 114
Result before tax391 561
Net result391 561
Total assets5 446 474
Equity5 379 076
202020212022202320242025
Revenue398 159
Operating result296 114
Result before tax391 561
Net result391 561
Total assets5 446 474
Equity5 379 076
Regnskapsregisteret · company_revenue · FY2025 (company)
register ledger · money
2026-07-30regaccounts_filed: last_annual_accounts_year2024 -> 2025
2026-04-01regfield_change: kapital{"antallAksjer": 298130, "belop": 2981300000.0, "innfortDato": "2025-02-03", "type": "Aksjekapital", "valuta": "NOK"} -> {"antallAksjer":...
owners
20242025
NÆRINGS- OG FISKERIDEPARTEMENTET 100100
202020212022202320242025
NÆRINGS- OG FISKERIDEPARTEMENTET 100100100100100100
Ownership chain · ultimate → thisNÆRINGS- OG FISKERIDEPARTEMENTET 100%self
Aksjonærregisteret · company_ownership · 2025 · both directions
stewards
202420252026
auditor DELOITTE AS 2026-06-23
accountant SPAREBANK 1 REGNSKAPSHUSET SMN AS 2026-06-23
2020202120222023202420252026
auditor DELOITTE AS 2026-06-23
accountant SPAREBANK 1 REGNSKAPSHUSET SMN AS 2026-06-23
Brreg · company_org_roles
tenders
No recorded tender wins.
Relevant open tenders — matched · NACE 64.322 ↔ CPV
subscribers sharpen matches with per-company keywords
open-tender matching (NACE ↔ CPV) awaits Intelligo's open-tenders view
Doffin/TED · company_tender_wins · 2026-08-19
hiring
No job ads on record in the last 12 months.
NAV Arbeidsplassen · company_job_ad_months
website
URL · crawledinvestinor.no 2026-08-03
AI filesno llms files · open
Stackwordpress · nb
Web · company_sites
group · owns
Investinor Nord-Norge AS 100%Venture and development capital companieskr 0
100%
Investinor Direkte AS 100%Venture and development capital companieskr 0
Investinor Indirekte i AS 100%Venture and development capital companieskr 0
Investinor Indirekte Ii AS 100%Venture and development capital companieskr 0
Investinor Skog AS 100%Fund management activitieskr 4.52M
100%
Såkorninvest Midt-Norge AS 100%Venture and development capital companieskr 0
Fjord Invest Sørvest AS 99.2%Venture and development capital companieskr 0
49%
Shelterwood AS 41.7%
Northern.Tech Holding AS 30.5%
Ace Well Technology AS 24.8%
Arctic Well Invest AS 22.6%
Cimon Medical AS 21.9%
Xsens AS 20.3%
Polight ASA 19.7%
17.8%
Nisonic AS 15.6%
Kebony AS 15.0%
Tellu AS 11.9%
+28 more holdings
Aksjonærregisteret · company_ownership · 2025 · both directions
Portfolio · resolved to end-investments45 companies3 holdco layersShow flat list
CompanyStakeRevenueResultEmpLast event
ALLIANCE VENTURE SPRING AS via 1 layer41.6%kr -3.15Mreg · 2026-06-23
ARCTIC WELL INVEST AS 22.6%kr 0kr -51kreg · 2026-08-07
COMPLETION TRACER AS via 1 layer22.6%kr 4.53Mkr -3.79Mreg · 2026-08-07
SCALE PROTECTION AS via 1 layer22.6%kr 7.51Mkr 4.6M6reg · 2026-08-07
AXIF 10 AS via 1 layer37.7%kr -15kreg · 2026-07-08
AXIF 11 AS via 1 layer29.1%kr -9kreg · 2026-07-08
AXIF 3 AS via 1 layer46.0%kr -17kreg · 2026-07-04
AXIF 5 AS via 1 layer48.9%kr -15kreg · 2026-07-04
AXIF 7 AS via 1 layer44.2%kr -16kreg · 2026-07-04
AXIF 8 AS via 1 layer49.0%kr -15kreg · 2026-07-08
AXIF 9 AS via 1 layer49.0%kr -15kreg · 2026-07-08
CIMON MEDICAL AS 21.9%kr 402kkr -16.1M8reg · 2026-08-12
CRYOGENETICS AS via 1 layer37.3%kr 34.7Mkr -5.78M27reg · 2026-07-29
CYVIZ AS via 1 layer37.7%kr 481.6Mkr 31.9M59reg · 2026-08-13
DELE HEALTH TECH AS via 1 layer42.3%kr -207kreg · 2026-07-15
EYR MEDICAL AS via 1 layer28.0%kr 33.5Mkr -6.37M16reg · 2026-08-12
FJORD INVEST SØRVEST AS 100%kr 0kr 0reg · 2026-07-24
HADEAN CAPITAL I AS 10.3%reg · 2026-06-24
HAVGUL CLEAN ENERGY AS 26.0%kr 0kr -410kreg · 2026-08-03
SIRAGRUNNEN AS via 1 layer26.0%kr 0kr -18kreg · 2026-07-04
INLINE-TEST AS via 2 layers14.7%kr 10.8Mkr -12.1M16reg · 2026-08-06
INVESTINOR DIREKTE AS 100%kr 0kr -58.4Mreg · 2026-07-27
INVESTINOR INDIREKTE I AS 100%kr 0kr 0reg · 2026-07-24
INVESTINOR INDIREKTE II AS 100%kr 0kr -19.5Mreport · 2024-12-31
INVESTINOR NORD-NORGE AS 100%kr 0kr 0reg · 2026-07-27
INVESTINOR SKOG AS 100%kr 4.52Mkr -2.18Mreg · 2026-07-24
LOOPFRONT AS via 2 layers8.2%kr 7.64Mkr -17.2M11reg · 2026-08-07
NOMONO AS 9.2%kr 6.63Mkr -56.2M18reg · 2026-06-13
NORSELAB FEEDER FUND I AS via 1 layer37.4%kr -52.8Mreg · 2026-07-27
NORTHERN.TECH HOLDING AS 30.5%kr 0kr -37kreg · 2026-06-17
NORTHERN.TECH AS via 1 layer30.5%kr 55.3Mkr 1.39M22reg · 2026-07-08
PLANKTONIC AS via 1 layer31.1%kr 36.7Mkr -4.77M53reg · 2026-07-25
PROVENTURE SEED II AS via 1 layer40.2%kr 0kr -9.5Mreg · 2026-07-19
JAGTECH AS via 2 layers21.3%kr 37.6Mkr 17.7M7reg · 2026-06-23
PROVENTURE SEED III AS via 1 layer30.3%kr 0kr -10Mreg · 2026-08-05
QWAVE AS via 2 layers11.6%kr 21.1Mkr -107k5reg · 2026-08-12
SINTEF VENTURE IV B AS via 1 layer25%kr 850kkr 528k
SKAGERAK CAPITAL III AS via 1 layer42.5%kr 27.9Mkr 16.2Mreg · 2026-08-07
SKYFALL VENTURES FUND I AS via 1 layer28.0%kr 0kr -90kreg · 2026-07-27
SNÖ TRUE NORTH AS via 1 layer34.0%kr -1.34Mreg · 2026-07-09
SÅKORNINVEST MIDT-NORGE AS 100%kr 0kr 0reg · 2026-07-24
TELLU AS 11.9%kr 174Mkr -39.9M48reg · 2026-08-12
WATER LINKED AS via 1 layer25.6%kr 72.1Mkr 2.67M51reg · 2026-08-12
WELLSTARTER AS via 2 layers10.5%kr 779kkr -1.94M6reg · 2026-08-14
XSENS AS via 2 layers17.2%kr 20.9Mkr -8.68M11reg · 2026-07-25
Aksjonærregisteret edges · portfolio_edges · latest cap table
Claimed on the fund's own website57 of 105 claims resolve to Norwegian companies · 13 also appear on this fund's register portfolio
AlpinCo largest holder: AB INVEST A/S · 80.1%
Apim Therapeutics largest holder: SARSIA SEED AS · 21.4%
Arbaflame largest holder: PEARL NORWAY AS · 64.6%
BookNorway
Calluna Pharma largest holder: CALLUNA PHARMA POOLCO AS · 34.9%
Cardiomech largest holder: NIHI AS · 14.7%
Cavai largest holder: IDEKAPITAL FUND 2 AS · 18.9%
Cimon Medical also in the register
Cryogenetics also in the register
Culture Intelligence largest holder: BRATSBERG KAPITAL AS · 28.1%
Curida largest holder: CURIDA HOLDING AS · 100%
Cyviz also in the register
Dele Health Tech also in the register
Digital Markedsplass largest holder: SALVESEN & THAMS INVEST AS · 86.4%
Dignio largest holder: FREDRIKSBORG INVESTOR AS · 16.6%
Exact Therapeutics largest holder: UBS FINANCIAL SERVICES INC. · 26.3%
EYR Medical also in the register
Farmforce largest holder: INVESTINOR INDIREKTE II AS · 19.8%
Fonn largest holder: INVESTINOR INDIREKTE II AS · 27.5%
Friend Software Corporation largest holder: EXULTO INVEST AS · 100%
GasSecure
Hadean Capital I also in the register
Hadean Capital II largest holder: OSLO PENSJONSFORSIKRING AS · 12.7%
Havgul Clean Energy also in the register
Heimdall Power largest holder: ORLEN VC SP Z.O.O · 14.2%
Hemispherian largest holder: KISTEFOS AS · 16.4%
Iconic
Idekapital Fund 2 largest holder: QUEST ENTERPRISES AS · 27.0%
Idekapital Growth Horizon largest holder: QUEST ENTERPRISES AS · 28.4%
Ignite Procurement largest holder: NOME HOLDING AS · 17.5%
Intelecy largest holder: AIDIOM AS · 21.5%
Investinor Nord-Norge AS also in the register
Joymo largest holder: INVESTINOR INDIREKTE II AS · 10.8%
Kebony largest holder: ARTS ALLIANCE AS · 0.7%
Keep-it Technologies largest holder: JAKOB HATTELAND INVEST AS · 26.3%
Kezzler largest holder: DNV AS · 17.9%
LayerOne largest holder: CLARA VENTURES AS · 64.3%
Momentum II largest holder: FERD AS · 13.1%
Nisonic largest holder: LPTS HOLDING AS · 93.7%
Nomono also in the register
and 65 more claims
Portfolio timeline45 companies
2026-08-14regWELLSTARTER AS — contact_change: emailinvoice@wellstarter.com
2026-08-14regWELLSTARTER AS — contact_change: mobile95742653
2026-08-13regCYVIZ AS — employees_change: employees60 -> 59
2026-08-12regEYR MEDICAL AS — employees_change: employees17 -> 16
2026-08-12regCIMON MEDICAL AS — employees_change: employees9 -> 8
2026-08-12regTELLU AS — employees_change: employees49 -> 48
2026-08-12regQWAVE AS — employees_change: employees6 -> 5
2026-08-12regWATER LINKED AS — employees_change: employees50 -> 51
2026-08-07regCOMPLETION TRACER AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-07regSCALE PROTECTION AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-07regSKAGERAK CAPITAL III AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-07regARCTIC WELL INVEST AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-07regLOOPFRONT AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-06regINLINE-TEST AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-05regPROVENTURE SEED III AS — capital_change: number_of_shares312712325 -> 334219372
2026-08-05regPROVENTURE SEED III AS — capital_change: share_capital31271232.5 -> 33421937.2
2026-08-03regHAVGUL CLEAN ENERGY AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-03regWELLSTARTER AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-08-03regEYR MEDICAL AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-31regCIMON MEDICAL AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-30regTELLU AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-29regCRYOGENETICS AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-27regINVESTINOR NORD-NORGE AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-27regINVESTINOR DIREKTE AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-27regSKYFALL VENTURES FUND I AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-27regNORSELAB FEEDER FUND I AS — accounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-25regPLANKTONIC AS — employees_change: employees52 -> 53
2026-07-25regWATER LINKED AS — employees_change: employees44 -> 50
2026-07-25regCRYOGENETICS AS — employees_change: employees26 -> 27
2026-07-25regQWAVE AS — address_change: post_placeSTAVANGER -> HAFRSFJORD
2026-07-25regCIMON MEDICAL AS — address_change: post_code7051 -> 7030
2026-07-25regQWAVE AS — employees_change: employees5 -> 6
2026-07-25regQWAVE AS — address_change: post_code4007 -> 4048
2026-07-25regXSENS AS — employees_change: employees12 -> 11
2026-07-24regINVESTINOR INDIREKTE I AS — accounts_filed: sisteInnsendteAarsregnskap2024 -> 2025
2026-07-24regINVESTINOR SKOG AS — accounts_filed: sisteInnsendteAarsregnskap2024 -> 2025
2026-07-24regFJORD INVEST SØRVEST AS — accounts_filed: sisteInnsendteAarsregnskap2024 -> 2025
2026-07-24regSÅKORNINVEST MIDT-NORGE AS — accounts_filed: sisteInnsendteAarsregnskap2024 -> 2025
2026-07-23regPROVENTURE SEED III AS — accounts_filed: sisteInnsendteAarsregnskap2024 -> 2025
2026-07-19regPROVENTURE SEED II AS — field_change: kapital{"antallAksjer": 468540685, "belop": 468540.69, "innfortDato": "2025-10-01", "type": "Aksjekapital", "valuta": "NOK"} -> {"antallAksjer":...
Showing the 40 most recent events
Skiwo · company_events
FY2025audit: No auditor's report (revisor fravalgt)28 full-time equivalentssigned: Hanne Nordgard, Erik Wold
Regnskapsregisteret (årsberetning) · company_annual_reports
14 notes from the report
Staff numbersThe company reports 28 man-years (årsverk) during the financial year.“28.00 arsverki regnskapsaret”
Share capitalEquity of NOK 35.5 million was paid in during 2025 (share issue), shown as an unregistered capital increase in the parent's share capital line.“Innbetaling av egenkapital 11 35 500”
DividendThe fund for unrealised gains is restricted equity that cannot form part of the basis for dividend distribution.“egenkapital som ikke inngari grunnlaget for utbetaling av utbytte.”
RemunerationVariable pay is capped at 25 percent of fixed salary for senior employees under the bonus scheme.“Maksimal oppnaelig variabel lonn utgjor inntil 25 % av fastlonn for ledende”
Post balance sheet eventManagement states that no new information on material matters existing at 31.12.2025 emerged up to the board's treatment of the accounts on 10 April 2026.“Det er ikke fremkommet ny informasjon”
Loan or financingInvestinor had no interest-bearing debt as at 31 December 2025.“renteberende gjeld pr.31.12.2025.”
SubsidiaryInvestinor Skog AS is the group's management company for forestry-sector investments and is consolidated because it is not itself an investment entity under IFRS 10.“Skog AS er konsernets forvaltningsselskap for investeringer i Skog-sektoren”
OwnershipInvestinor's mandate limits it to owning no more than 49 percent of a portfolio company, investing pari passu with private investors.“Investinor skal ikke eie mer enn 49% iet selskap og kan”
Related partyReturns generated in the mandate subsidiaries must be repaid in full to the Norwegian state, which also covers losses through loss funds and appropriations.“som genereres i datterselskapene skali sin helhet tilbakebetales til staten.”
ImpairmentIn the parent company accounts subsidiaries are carried at cost and written down when carrying value exceeds fair value; the parent recorded a value change on financial assets of NOK 181 467 thousand in 2025.“foretas dersom balansefort verdi overstiger virkelig verdi.”
Deferred taxDeferred tax assets on loss carry-forwards are only recognised to the extent future taxable income is probable; the group reported no tax expense for 2025.“Utsatt skattefordelinnregnes forfremforbare underskudd og andreskattereduserende forskjeller”
OtherBoth seed-capital funds financed with loan capital (Midvest 1 AS and Norinnova Invest AS) are in liquidation.“Det bemerkes at begge ovenstaende fond er under avvikling.”
OtherThe group holds restricted bank deposits of NOK 3 253 thousand at year-end (NOK 3 245 thousand in 2024).“Bundne bankinnskudd 10 3 253”
OtherThe 2025 accounts were prepared and presented by the company's board and CEO.“Regnskapet for regnskapsaret 2025 er avlagt av selskapets styre og administrerende direktor.”
register
capital kr 3bnregistered 2008-04-12post@investinor.no · 957 42 000
Brreg · companies
register ledger · 20 events · 4 series/meta rows folded into the charts
2026-07-30regaccounts_filed: last_annual_accounts_year2024 -> 2025
2026-07-25regemployees_change: employees32 -> 31
2026-07-18regemployee_change: antallAnsatte32 -> 31
2026-05-14regemployee_change: antallAnsatte33 -> 32
2026-04-01regfield_change: kapital{"antallAksjer": 298130, "belop": 2981300000.0, "innfortDato": "2025-02-03", "type": "Aksjekapital", "valuta": "NOK"} -> {"antallAksjer":...
2026-04-01regfield_change: vedtektsdato2025-06-23 -> 2025-12-23
2025-12-31reportStaff numbersThe company reports 28 man-years (årsverk) during the financial year. — 28.00 arsverki regnskapsaret
2025-12-31reportShare capitalEquity of NOK 35.5 million was paid in during 2025 (share issue), shown as an unregistered capital increase in the parent's share capital...
2025-12-31reportDividendThe fund for unrealised gains is restricted equity that cannot form part of the basis for dividend distribution. — egenkapital som ikke i...
2025-12-31reportRemunerationVariable pay is capped at 25 percent of fixed salary for senior employees under the bonus scheme. — Maksimal oppnaelig variabel lonn utgj...
2025-12-31reportPost balance sheet eventManagement states that no new information on material matters existing at 31.12.2025 emerged up to the board's treatment of the accounts ...
2025-12-31reportLoan or financingInvestinor had no interest-bearing debt as at 31 December 2025. — renteberende gjeld pr.31.12.2025.
2025-12-31reportSubsidiaryInvestinor Skog AS is the group's management company for forestry-sector investments and is consolidated because it is not itself an inve...
2025-12-31reportOwnershipInvestinor's mandate limits it to owning no more than 49 percent of a portfolio company, investing pari passu with private investors. — I...
2025-12-31reportRelated partyReturns generated in the mandate subsidiaries must be repaid in full to the Norwegian state, which also covers losses through loss funds ...
2025-12-31reportImpairmentIn the parent company accounts subsidiaries are carried at cost and written down when carrying value exceeds fair value; the parent recor...
2025-12-31reportDeferred taxDeferred tax assets on loss carry-forwards are only recognised to the extent future taxable income is probable; the group reported no tax...
2025-12-31reportOtherBoth seed-capital funds financed with loan capital (Midvest 1 AS and Norinnova Invest AS) are in liquidation. — Det bemerkes at begge ove...
2025-12-31reportOtherThe group holds restricted bank deposits of NOK 3 253 thousand at year-end (NOK 3 245 thousand in 2024). — Bundne bankinnskudd 10 3 253
2025-12-31reportOtherThe 2025 accounts were prepared and presented by the company's board and CEO. — Regnskapet for regnskapsaret 2025 er avlagt av selskapets...
Skiwo · company_events