Monterro launches new €1.7bn funds, strengthening its position as the Nordics’ largest software investor

Monterro, the Nordics' largest B2B software investor, has launched its two latest funds, M5 and G2, totaling €1.725 billion. With this fundraise, the company has more than doubled its assets under management to €3.1bn, further cementing its position as the Nordic region's largest software-focused investor. With the new funds, the company can now accelerate its mission to support Nordic software companies on their journey to becoming market leaders.

There has been a strong interest in the new funds from both existing and new investors. Both funds were heavily oversubscribed and closed in less than four months - despite a challenging global fundraising climate. Monterro has gained the trust of 26 new institutional investors from Europe, the APAC region, the US, and South America. As with previous funds, Monterro remains the largest investor, committing more than 10% of the capital raised. In addition, around 50 entrepreneurs and executives from Monterro's portfolio companies have chosen to invest in the new funds.

The strong interest confirms Monterro's ability to support Nordic software companies - a strategy that has resulted in high returns and placed all of its funds among the best-performing in Europe. 

Building on a successful strategy

The majority of Monterro’s 70 employees have operational experience, many of whom have built and managed software companies. By providing hands-on experience, expertise, and networks they support companies to scale and become market leaders. 

Monterro has continued to expand its proven model with several unique initiatives, such as:

• In-house AI specialists who help portfolio companies improve efficiency and integrate AI into their products.
• Scandinavian Software Park: a software development center in Vietnam with more than 150 developers employed by Monterro’s portfolio companies
• Monterro’s extensive community, giving portfolio leaders access to expertise, knowledge-sharing, and networking focused exclusively on B2B software

This combination has created a unique offering that has made Monterro a sought-after partner for ambitious software entrepreneurs across the Nordics. With the added capital, Monterro will accelerate and support even more Nordic software companies.

High activity in 2025

Monterro has had very high activity in 2025, focusing on both supporting its portfolio companies’ growth and helping new software companies across the Nordic region. 
Key initiatives this year include:

•    Invested in six new software companies
•    Completed five add-on acquisitions
•    Established an office in Helsinki
•    Expanded the team with 16 new employees
•    Increased presence in all Nordic countries

Lars Sveder, co-founder and Chief Investment Officer of Monterro, says:

“This fundraise reflects our position as the leading B2B software investor in the Nordics and the trust our investors place in our model. It’s a testament not only to the strong returns we’ve consistently delivered but also to our long-term vision we bring as hands-on operational investors. We’re excited to continue backing ambitious founders and helping them and their businesses achieve their full international potential.”

Gustav Lagercrantz, CEO of Monterro says:

“What makes us most proud are the remarkable growth journeys we’ve been part of, together with the software companies we support. Through our operational experience, strategic guidance, and broad network, we’ve helped founders scale their companies faster and expand into new markets. With additional capital, we can now support even more Nordic software companies in becoming international market leaders.”

Monterro was advised on the fundraise by Rede Partners and Andulf Advokat.