The Nordic region has increasingly emerged as a prime destination for global investors. Renowned for reliability, innovation and international reach, its multi-faceted sector landscape resembles a “mini-world” for investors seeking stable diversification while catching the next wave of returns.
Global-ready capital markets with strong fundamentals, underpinned by an innovative ecosystem
The Nordics stand out through their open societies built on trust and transparency, with world-class academic institutions that supply a tech-savvy workforce and near-universal English proficiency. Its vibrant innovation climate is evident as it consistently punches above its weight, producing global success stories and tech unicorns such as Ericsson, ABB, Spotify, Klarna, Zendesk, Wolt, King, et al.
While being a tight-knit community, its humble size encourages a global “export-first” mindset where founders often prepare for international scaling from day one. Altogether, these factors have paved the way for one of Europe’s most active capital markets – whether it’s private growth financing, M&A, or IPOs. The level of liquidity, coupled with robust ESG and sustainability frameworks, inspires confidence and allocation comfort among international investors.
Tech, Software & Services – verticals and attributes favoured by investors:
Increasing cross-border activity as Nordic companies seek to scale, while international investors eyes the most attractive deals
The Nordics has shown remarkable economic resilience through recent market downturns, providing a safe haven for sustained dealmaking. Cross-border transactions play a crucial role, with 42% of all deals in 2025YTD involving international investors and underscoring the region’s global appeal. Additionally, the small/mid-cap segment has proven more active in a softer environment, as lower valuations and motivated sellers present attractive opportunities for long-term investors.
Indications of a rebound in M&A activity in H2 2024 are reaffirmed as we into 2025 observe a steady increase in LTM deal volumes and exit conversations. With IPO markets still largely closed, private sector capital remains the main alternative path, driven by a dynamic private equity scene with aged inventory and substantial dry powder. Meanwhile, global strategic buyers are increasingly active in the region, leveraging acquisitions to counteract slower organic growth and heightened competition.
TH Global Capital – connecting Nordic growth companies with global investors
TH Global Capital is a sector-focused investment bank with presence across 14 countries. Our global network of +4,000 investors and successful Nordic transactions – including, Advectas (acquired by Capgemini), Cloudeon (acquired by Devoteam), and BusinessNow (acquired by DXC Technology) – showcase our ability to realize global ambitions of Nordic companies.
If you’re interested in learning more from our day-to-day dialogues in the market and which are the valuation drivers and investor audience for your company – then let’s have a conversation.
Sources:
42% of all deals in 2025 YTD involving international investors and underscoring the region’s global appeal Source: Pitchbook