# Innovations Kapital

> Innovations Kapital is a VC fund backing Biotechnology and Health Care. See 19 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Göteborg, Sweden
- Total investments: 19
- Last investment: May 2011
- Lead investor: 11%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/innovationskapital/about/
- Website: http://www.innkap.com

Innovations Kapital is a VC fund in Göteborg focused on Biotechnology and Health Care. InnovationsKapital was founded in 1994 and is a leading independent venture capital firm for innovative growth companies in the Nordic region. The business, carried out from offices in and Stockholm, Gothenburg and New York, is focused on investments within ICT and Healthcare & Life Sciences, dynamic sectors that are rapidly expanding and whereNordic research plays an important role. The capital is provided by highly reputable Swedish and international institutional investors.

## Contacts

5 contacts available for Innovations Kapital. Shizune tracks 6 team members at Innovations Kapital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/innovations-kapital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series B | $5.6M–$30M |
| Series C | $5.5M–$15M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 7 | 37% |
| Health Care | 6 | 32% |
| Software | 3 | 16% |
| Manufacturing | 3 | 16% |
| Electronics | 2 | 11% |

25 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Funding Round | 6 | 32% |
| Series B | 5 | 26% |
| Series C | 4 | 21% |
| Series A | 2 | 11% |
| Series E | 1 | 5% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Sweden | 5 | 26% |
| Denmark | 3 | 16% |
| United States | 3 | 16% |
| Norway | 1 | 5% |
| Finland | 1 | 5% |

6 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Staffan Ingeborn | Managing Investment Director | 5 | https://shizune.co/investors/profile/staffan-ingeborn |
| Gabriella Ohldin | Chief Financial Officer | 0 | https://shizune.co/investors/profile/gabriella-ohldin |
| Gunnar Fernström | Investments Director | 0 | https://shizune.co/investors/profile/gunnar-fernstrm |
| Magnus Berglind | Investment Director | 0 | https://shizune.co/investors/profile/magnus-berglind |
| Peder Holm | Investment Director | 0 | https://shizune.co/investors/profile/peder-holm |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Silecs | Silecs, Inc. develops and manufactures electronic and optical materials for semiconductors, image sensors, and displays to the microelectronics industry. Its materials solutions integrate with standard device manufacturing processes. The company's products are used in low temperature dielectric, CMOS sensor and other electro-optic, TFT-LCDdisplays and other optical, sub-Al IMD, BPSG leveling, partial and total etchback planarization, masking and other sacrificial, ultra low-k IMD, devices requiring low refractive index films, medium and high temperature, STI, PMD, thick film, passivation, and MEMS applications. It also provides local and regional customer support. The company has operating centers in Asia, the United States, and Europe; and a manufacturing, and research and development facility in Espoo, Finland. Silecs, Inc. was founded in 2000 and is headquartered in Mountain View, California | $16M | Series E | May 18, 2011 |  |
| Action Pharma | Action Pharma A/S operates as a research and development focused biotechnology company. It discovers and develops new drugs and treatment concepts to treat cardiovascular disease and inflammatory diseases, as well as metabolic diseases, such as type-II diabetes and obesity. The company's product pipeline includes AP214, a modifiedÐMSH-peptide analogue for the treatment of post-surgical kidney injury associated with cardiac surgery; and AP1030 and AP11 series, oral anti-diabetic (OAD) for the treatment of type-II diabetes associated with overweight/obesity. Its product pipeline also comprise AP1189, an oral anti-inflammatory compound for the treatment of inflammatory diseases, such as inflammatory bowel disease and rheumatoid arthritis; and AP405, a modified MSH peptide analogue for the treatment of inflammatory skin diseases, such as atopic dermatitis. The company was founded in 2000 and is based in Holte, Denmark. | $6.3M | Series C | Jul 16, 2010 |  |
| SantoSolve | SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment. | $5.5M | Series C | Jan 31, 2010 |  |
| Hexaformer | Hexaformer technology makes it possible to manufacture closed symmetrical delta shaped transformer cores, building transformer and reactor solutions to help their customers to improve the energy distribution in several aspects. The "green" properties, with e.g. low losses and less material used, are unique and have given us asubstantial interest. Their robustness and their lower weight have also proven to be advantageous in several applications. Hexaformer manufactures its products in Västervik, Sweden. Their technology is also licensed to other manufacturers around the globe. The company was founded in 2004 and is now owned by a combination of strong venture capital companies and private individuals. | $4.5M |  | May 11, 2009 |  |
| Silecs | Silecs, Inc. develops and manufactures electronic and optical materials for semiconductors, image sensors, and displays to the microelectronics industry. Its materials solutions integrate with standard device manufacturing processes. The company's products are used in low temperature dielectric, CMOS sensor and other electro-optic, TFT-LCDdisplays and other optical, sub-Al IMD, BPSG leveling, partial and total etchback planarization, masking and other sacrificial, ultra low-k IMD, devices requiring low refractive index films, medium and high temperature, STI, PMD, thick film, passivation, and MEMS applications. It also provides local and regional customer support. The company has operating centers in Asia, the United States, and Europe; and a manufacturing, and research and development facility in Espoo, Finland. Silecs, Inc. was founded in 2000 and is headquartered in Mountain View, California | $7.9M |  | Jan 19, 2009 |  |
| Enigma Semiconductor | Enigma Semiconductor is developing next generation silicon solutions to enable the future of wired communications. Their solutions push the limits of technology to create compelling components and subsystems for applications such as Metropolitan and Access Networks, Enterprise and internet infrastructure and Storage Systems.Enigma is managedand stalled by a team of experienced professionals from established names like Cisco, intel and Vitesse Semiconductor. | $5.6M | Series B | Nov 27, 2007 |  |
| SantoSolve | SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment. | $7M |  | Nov 07, 2007 |  |
| Upfront Chromatography | Upfront Chromatography is a Denmark-based biotech company with significant expertise and regulatory experience in the development of customised industrial processes. Upfront develops and manufactures innovative products and technologies for extraction and recovery of biotherapeutics, functional biomolecules, macromolecular complexes, and evenliving cells, directly from bioreactors and industrial side-streams. | $9.2M |  | Sep 24, 2007 |  |
| Hymite | Hymite is a venture funded product company bringing to market the next generation packaging platform for use with High Power (HP) / Ultra-high Brightness (UHB) LEDs. Hymite's Engineered Silicon (Si) package platform delivers new levels of performance and value to their customers developing products for Solid State Lighting applications. | $11.5M | Series B | Jan 11, 2007 |  |
| Action Pharma | Action Pharma A/S operates as a research and development focused biotechnology company. It discovers and develops new drugs and treatment concepts to treat cardiovascular disease and inflammatory diseases, as well as metabolic diseases, such as type-II diabetes and obesity. The company's product pipeline includes AP214, a modifiedÐMSH-peptide analogue for the treatment of post-surgical kidney injury associated with cardiac surgery; and AP1030 and AP11 series, oral anti-diabetic (OAD) for the treatment of type-II diabetes associated with overweight/obesity. Its product pipeline also comprise AP1189, an oral anti-inflammatory compound for the treatment of inflammatory diseases, such as inflammatory bowel disease and rheumatoid arthritis; and AP405, a modified MSH peptide analogue for the treatment of inflammatory skin diseases, such as atopic dermatitis. The company was founded in 2000 and is based in Holte, Denmark. | $6M | Series A | Oct 27, 2006 |  |

10 of 19 investments shown.

## Co-investors
- [Teknoinvest](https://shizune.co/investors/profile/teknoinvest) — VC Fund, 3 deals together
- [3i Group](https://shizune.co/investors/profile/3i-group) — VC Fund, 2 deals together
- [HealthCap](https://shizune.co/investors/profile/healthcap) — VC Fund, 2 deals together
- [Tesi](https://shizune.co/investors/profile/tesi) — VC Fund, 2 deals together
- [TVM Capital](https://shizune.co/investors/profile/tvm-capital) — VC Fund, 2 deals together
- [Add Partners](https://shizune.co/investors/profile/add-partners) — VC Fund, 1 deal together

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## FAQ

### What does Innovations Kapital invest in?

Innovations Kapital invests primarily in Biotechnology, Health Care and Software startups, most often at Funding Round and Series B stage. Most of the 19 investments tracked by Shizune back companies in Sweden. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Innovations Kapital's check size?

Innovations Kapital typically joins rounds of $5.6M–$30M at Series B and $5.5M–$15M at Series C. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Innovations Kapital participates in.

### How do I contact Innovations Kapital?

Public channels for Innovations Kapital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Innovations Kapital?

The team at Innovations Kapital includes Staffan Ingeborn (Managing Investment Director), Gabriella Ohldin (Chief Financial Officer) and Gunnar Fernström (Investments Director), among 6 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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