Vestland launches new early-phase investment fund

The fund “Tidligfasekapital Vestland” is an initiative from Connect Vest, VIS Innvasjonsselskap and the cluster NCE Finance Innovation, and was officially launched as the regional innovation hub VIS Innovasjonsselskap celebrated 20 years in business,

First step 

The early-phase investment fund is set to bridge a critical gap in the region’s innovation ecosystem by offering access to capital for companies that often struggle to secure funding during their formative years. The initiative aligns with Vestland’s vision of fostering a dynamic and entrepreneurial environment that encourages creativity and sustainability.  

- This fund will be a part of a solution for several of the scale ups in our region. We start small, but intend to grow, said CEO of Connect Vest chairman of the board of Tidligfasekapital Vestland Management AS, Gøril Selvik as the news of the completion of the first fund was released.

The thriving ecosystem of innovators and changemakers in Greater Bergen have supported the fund both finacially and with headpower. Last year, Gøril Selvik recived a donation of NOK 6 million from Fana Sparebank to support the regional seed fund. Photo: Charlotte H. Lem.

The fund will invest in 25-30 companies over the next three years, and the investments will be between half a million and one million kroner per company.

Strategic focus areas  

The mandate of the fund is to invest in companies that are in the pre-seed phase and in the fields of ocean-based industries, green technology and health-tec.

By targeting these key sectors, the fund seeks to amplify Vestland’s competitive advantage and attract more investment and talent to the region.  

Learn more about the key industries in Vestland here.

Local officials have expressed strong support for the initiative, highlighting its potential to create jobs, strengthen the economy, and position Vestland as a leader in sustainable innovation. The fund also reflects the region’s commitment to the United Nations’ Sustainable Development Goals by fostering businesses that prioritize environmental and social responsibility.  

The fund will support the goals in the county’s masterplan to achieve the greener future, Vestlandsporteføljen 2.0. Today, the industries in Vestland fylkeskommune contribute significantly to Norwegian export. However, their activity also creates a large chunk of Norwegian emissions. The project Grøn region Vestland has developed a plan for transforming the region – secure future growth but reduce emissions. 19 strategically defined hubs across the region serve as focal points for green transformation, enabling the establishment of new value chains throughout the county each with the potential to generate 17,000 new jobs, boost exports, and reduce emissions.

The ocean industries are the core of Vestland’s economy and Bergen provides a safe harbour for all vessels. Photo: Jan M. Lillebøe. 

With this new early-phase investment fund, the region is taking a bold step toward fostering entrepreneurship and innovation. By supporting the next generation of businesses, the region is poised to strengthen its reputation as a global leader in sustainability and innovation.