Venture capital firm
EQT portfolio
eqtgroup.comEQT is a venture capital firm based in Stockholm, Sweden, founded in 1994. It has invested in 99 venture-backed companies across 113 funding rounds on VCMC, and led 48 of those rounds. 23 of them were in the last 12 months.
99
Venture-backed companies
in its portfolio on VCMC
113
Funding rounds
led 48
23
Last 12 months
rounds, Oct 2025 to Sep 2026
25
With a disclosed valuation
of 99 companies
$177.1B
Combined value of its private companies
the whole companies, not what EQT owns
94 private companies EQT has backed have a VCMC valuation; together they are worth $177.1B. That is the value of the whole companies, not what EQT owns. Mistral AI is 14% of the total. 5 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
EQT's most valuable portfolio companies
The 10 most valuable private companies EQT has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Mistral AI Software Development Services, Paris $25.2B range $21.2B – $36.6B Joined at Series D, 2026
- 2 ElevenLabs Tech Companies, London $22.1B range $19.1B – $27.8B Joined at Growth, 2026
- 3 Harvey Tech Companies, San Francisco $15.7B range $13.5B – $19.6B Joined at Series F, 2025
- 4 Lovable Tech Companies, Stockholm $14.0B range $11.6B – $19.9B Led at Series B, 2025
- 5 ICEYE Aerospace and Defence, Espoo $12.8B range $10.0B – $17.6B Joined at Series F, 2026
- 6 Mollie Payment Processing & Point of Sale, Amsterdam $7.6B range $1.1B – $12.2B Joined at Series C, 2021
- 7 Vinted Salvage Merchandise & Thrift Stores, Wilmington $6.7B range $4.8B – $7.7B Led at Series F, 2021
- 8 Cornerstone Robotics Medical Supply Manufacturers, Waltham $4.5B range $3.1B – $6.9B Led at Series C, 2025
- 9 Tech Companies, Amsterdam $3.9B range $396M – $8.1B Led at Series E, 2021
- 10 Perk Travel Agencies, Birmingham $3.7B range $2.2B – $4.3B Led at Series E, 2025
Portfolio
Full EQT portfolio (99 companies)
99 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Vinted Salvage Merchandise & Thrift Stores · led at Series F, 2021 | Other Apr 2026 $1.03B | $6.7B | $4.8B – $7.7B | $6.7B (0%) | $601M | 0% | 4,599 | growing | A | |
| 2 | Mistral AI Software Development Services · since Series D, 2026 | Series D Sep 2026 $3.50B | $25.2B | $21.2B – $36.6B | $31.8B (+26%) | $3.8B | 0% | 1,715 | growing | A | |
| 3 | Harvey Tech Companies · since Series F, 2025 | Growth Equity Sep 2026 $550M | $15.7B | $13.5B – $19.6B | $17.1B (+9%) | $1.5B | 0% | 1,847 | growing | A | |
| 4 | ICEYE Aerospace and Defence · since Series F, 2026 | Series F Jun 2026 $520M | $12.8B | $10.0B – $17.6B | $15.3B (+19%) | $1.8B | 0% | 1,128 | growing | A | |
| 5 | ElevenLabs Tech Companies · since Growth, 2026 | Growth Equity Sep 2026 $300M | $22.1B | $19.1B – $27.8B | $24.2B (+9%) | $2.4B | 0% | 1,425 | growing | A | |
| 6 | Cornerstone Robotics Medical Supply Manufacturers · led at Series C, 2025 | Growth Equity Sep 2026 $700M | $4.5B | $3.1B – $6.9B | $4.9B (+9%) | $438M | 0% | 63 | unknown | B | |
| 7 | Perk Tech Companies · led at Series E, 2025 | Debt Sep 2026 $34M | $3.6B | $1.6B – $4.2B | $3.5B (-1%) | $402M | 4% | 49 | flat | B | |
| 8 | Lovable Tech Companies · led at Series B, 2025 | Series C Aug 2026 $400M | $14.0B | $11.6B – $19.9B | $17.3B (+23%) | $2.1B | 0% | 1,139 | growing | A | |
| 9 | Mollie Payment Processing & Point of Sale · since Series C, 2021 | Series C Jun 2021 $800M | $7.6B | $1.1B – $12.2B | $7.3B (-4%) | $1.4B | 0% | 1,194 | up | D | |
| 10 | ReliaQuest Tech Companies · led at Growth, 2025 | Growth Equity Mar 2025 $500M | $3.5B | $2.1B – $4.2B | $3.1B (-10%) | $336M | 24% | 1,096 | flat | B | |
| 11 | LIVEKINDLY Collective Food Production · since Growth, 2020 | Growth Equity May 2022 $200M | $948M | $175M – $3.0B | $857M (-10%) | $202M | 53% | 116 | flat | D | |
| 12 | The Exploration Company Aerospace and Defence · led at Series C, 2026 | Series C Sep 2026 $450M | $3.3B | $2.2B – $5.9B | $4.1B (+26%) | $496M | 0% | 530 | growing | B | |
| 13 | Perk Travel Agencies · led at Series E, 2025 | Debt Jun 2026 $300M | $3.7B | $2.2B – $4.3B | $3.7B (0%) | $449M | 0% | 2,155 | up | B | |
| 14 | Tubulis Pharmaceutical Products · led at Series B, 2024 | Series C Oct 2025 $358M | $2.7B | $1.8B – $3.1B | $2.7B (0%) | $326M | 0% | 77 | up | A | |
| 15 | Wellhub Tech Companies · led at Series F, 2023 | Series F Aug 2023 $85M | $2.4B | $774M – $3.6B | $2.4B (-2%) | $343M | 0% | 2,572 | up | C | |
| 16 | ManyPets Insurance - Agents, Carriers & Brokers · led at Series D, 2021 | Series D Jun 2021 $350M | $1.0B | $166M – $2.6B | $941M (-9%) | $312M | 41% | 361 | flat | D | |
| 17 | Epidemic Sound Art & Music Publishers · since Growth, 2021 | Growth Equity Mar 2021 $450M | $556M | $116M – $1.7B | $497M (-11%) | $160M | 53% | 629 | down | D | |
| 18 | Nothing Consumer Electronics Company · since Series C, 2025 | Other Dec 2025 $8.0M | $1.8B | $1.1B – $2.0B | $1.8B (0%) | $213M | 0% | 31,104 | up | B | |
| 19 | Starcloud Tech Companies · since Series A, 2026 | Growth Equity Aug 2026 $250M | $2.3B | $2.0B – $2.9B | $2.5B (+8%) | $228M | 0% | 21 | up | A | |
| 20 | Milvus Chemicals · since Seed, 2025 | Seed Oct 2025 $6.9M | $88.7M | $29.1M – $135M | $88.7M (0%) | $17.4M | 0% | 15 | growing | C | |
| 21 | Tech Companies · since Series B, 2026 | Series B Sep 2026 $50M | $770M | $652M – $1.3B | $1.1B (+46%) | $135M | 0% | 34 | growing | B | |
| 22 | Tech Companies · since Series B, 2025 | Series B Jan 2025 $37M | $396M | $118M – $603M | $396M (0%) | $43.6M | 0% | 2 | unknown | C | |
| 23 | Tech Companies · led at Series B, 2022 | Series B Aug 2022 $20M | $25.0M | $10.1M – $133M | $19.2M (-23%) | $18.2M | 97% | 57 | down | D | |
| 24 | Tech Companies · since Bridge, 2022 | Series A Oct 2024 $8.9M | $57.2M | $21.5M – $108M | $47.2M (-17%) | $12.3M | 42% | 55 | up | C | |
| 25 | Chemicals · since Series A, 2023 | Series A Apr 2023 $11M | $231M | $20.6M – $351M | $228M (-1%) | $25.7M | 0% | 195 | up | D | |
| 26 | Food delivery · since Series E, 2021 | Acquisition Nov 2021 $8.00B | $4.4B acquired 2021 | $2.5B – $6.6B | – | – | 0% | 1,200 | flat | B | |
| 27 | Tech Companies · since Series E, 2026 | Series E Oct 2026 $250M | $2.3B | $2.0B – $3.4B | $3.0B (+30%) | $359M | 0% | 795 | growing | A | |
| 28 | Travel Agencies · since Series E, 2023 | Growth Equity Feb 2025 $100M | $1.1B | $527M – $1.7B | $1.1B (0%) | $115M | 0% | 2,058 | up | B | |
| 29 | Pharmaceutical Products · since Series D, 2025 | Series D Nov 2025 $115M | $1.6B | $884M – $2.4B | $1.5B (-7%) | $210M | 34% | 127 | up | B | |
| 30 | Tech Companies · led at Series E, 2021 | Series E Jan 2021 $288M | $3.9B | $396M – $8.1B | $3.6B (-7%) | $988M | 15% | 766 | flat | D | |
| 31 | Property Management · since Series B, 2026 | Series B Jul 2026 $170M | $1.1B | $708M – $2.1B | $1.5B (+41%) | $181M | 0% | 88 | growing | B | |
| 32 | Pharmaceutical Products · led at Series B, 2026 | Series B Jan 2026 $235M | $2.1B | $1.1B – $3.3B | $2.4B (+11%) | $259M | 0% | 5 | unknown | B | |
| 33 | Biotechnology · since Bridge, 2020 | Series C Jan 2022 $200M | $352M | $84.1M – $3.0B | $344M (-2%) | $242M | 85% | 130 | down | D | |
| 34 | Pharmaceutical Products · led at Series A, 2016 | Series D Oct 2026 $135M | $1.5B | $1.1B – $2.8B | $2.0B (+26%) | $240M | 9% | 60 | flat | B | |
| 35 | Dairy Products - Farms & Stores · since Series A, 2020 | Series C Dec 2024 $95M | $331M | $244M – $545M | $207M (-37%) | $67.2M | 97% | 143 | shrinking | B | |
| 36 | Biotechnology · since Series C, 2021 | Series C Nov 2021 $100M | $315M | $47.4M – $1.4B | $305M (-3%) | $122M | 52% | 59 | flat | D | |
| 37 | Biotechnology · led at Series B, 2025 | Series B Jan 2025 $97M | $477M | $268M – $1.0B | $298M (-37%) | $105M | 97% | 40 | shrinking | C | |
| 38 | Pharmaceutical Products · led at Series B, 2024 | Series B Dec 2024 $147M | $1.5B | $414M – $2.3B | $1.5B (0%) | $178M | 0% | 35 | flat | C | |
| 39 | Biotechnology · led at Series B, 2025 | Series B Jun 2025 $135M | $1.4B | $597M – $2.1B | $1.4B (0%) | $167M | 0% | 58 | up | C | |
| 40 | Medical Supply Manufacturers · since Series E, 2021 | Series F Apr 2024 $65M | $968M | $211M – $1.6B | $697M (-28%) | $117M | 13% | 95 | flat | D | |
| 41 | Biotechnology · since Series B, 2021 | Series B Aug 2021 $110M | $78.1M | $41.5M – $257M | $75.7M (-3%) | $129M | 97% | 41 | shrinking | C | |
| 42 | Biotechnology · since Series A, 2017 | Acquisition Oct 2025 $410M | $902M acquired 2025 | $123M – $1.3B | – | – | 0% | 52 | flat | D | |
| 43 | Pharmaceutical Products · led at Series A, 2023 | Series A Nov 2023 $138M | $1.2B | $248M – $1.9B | $916M (-25%) | $201M | 6% | 114 | up | D | |
| 44 | Medical Supply Manufacturers · since Series D, 2025 | Series D Sep 2025 $85M | $1.3B | $666M – $2.0B | $1.3B (0%) | $161M | 0% | 215 | up | B | |
| 45 | Medical Supply Manufacturers · since Series D, 2023 | Series E Mar 2025 $53M | $886M | $444M – $1.3B | $886M (0%) | $97.5M | 0% | 77 | up | B | |
| 46 | Pharmaceutical Products · led at Growth, 2019 | Acquisition Oct 2026 $181M | $538M acquired 2026 | $77.4M – $780M | – | – | 20% | 31 | up | D | |
| 47 | Biotechnology · since Series B, 2026 | Series B Aug 2026 $152M | $1.1B | $654M – $2.3B | $1.5B (+38%) | $179M | 0% | 7 | unknown | C | |
| 48 | Tech Companies · led at Series C, 2024 | Series D Feb 2026 $90M | $1.4B | $956M – $1.8B | $1.5B (+11%) | $194M | 0% | 262 | growing | B | |
| 49 | Tech Companies · led at Series D, 2022 | Series D Mar 2022 $125M | $416M | $64.7M – $479M | $398M (-4%) | $53.7M | 0% | 301 | up | D | |
| 50 | Biotechnology · since Series A, 2021 | Other Oct 2024 $50M | $202M | $24.1M – $667M | $192M (-5%) | $94.1M | 47% | 73 | flat | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How EQT invests: stages, industries and countries
Most of its rounds are Series C and later (48%). Its companies span 24 industries, most in Biotechnology, Tech Companies and Medical Supply Manufacturers, across 18 countries.
Rounds by stage
- Seed 7
- Series A 23
- Series B 26
- Series C and later 54
- Other venture 3
Investments by industry
- Biotechnology 21
- Tech Companies 20
- Medical Supply Manufacturers 19
- Pharmaceutical Products 15
- Chemicals 3
- Aerospace and Defence 2
- Travel Agencies 2
- Art & Music Publishers 1
Investments by country
- United States 30
- United Kingdom 15
- Germany 10
- Netherlands 10
- Belgium 6
- Switzerland 6
Recent rounds
EQT's latest investments
EQT's most recent funding rounds, newest first. 23 rounds in the last 12 months.
- Series E $250M 21 Oct 2026
- Series D $135M 19 Oct 2026
- ElevenLabs Growth $300M 30 Sep 2026
- Series B $50M 30 Sep 2026
- Mistral AI Series D $3.50B 8 Sep 2026
- The Exploration Company Series C, led $450M 8 Sep 2026
- Lovable Series C, led $400M 12 Aug 2026
- Series B $152M 11 Aug 2026
- Series B $170M 28 Jul 2026
- Series D $25M 24 Jul 2026
Co-investors
EQT's top co-investors
The investors that most often join the same rounds as EQT. Kurma Partners leads, with 10 rounds together.
- 10 rounds together
- 8 rounds together
- 7 rounds together
- 6 rounds together
- 6 rounds together
- 6 rounds together
- 6 rounds together
- 6 rounds together
- Sequoia Capital 5 rounds together
- 5 rounds together
About
About EQT
EQT AB is a Swedish investment organization engaged in investment management, including private capital, infrastructure, real estate, and private wealth management. The company operates across Europe, the Americas, and Asia Pacific, managing a portfolio of portfolio companies in sectors such as healthcare, technology, industrial technology, services, and real estate. EQT also engages in thematic investment and active ownership, and is involved in initiatives supporting research and development in rare diseases and investments in life sciences companies.
Description from Veridion's company data.
- Founded
- 1994
- Based in
- Stockholm, Sweden
- Team
- 1,981 people, +6% in a year
- Type
- Venture capital firm
Focus markets
- Private Equity
- Infrastructure
- Real Estate
- Healthcare
- Technology
- Industrial Technology
- Services
What EQT offers
- Investment Management Services
- Private Equity Investment Management
- Infrastructure Investment Management
- Real Estate Investment Management
- Private Wealth Management Services
- Thematic Investment Management
- Active Ownership and Stewardship Services
- Life Sciences Investment Management
Questions
EQT: frequently asked questions
How many companies has EQT invested in?
99 venture-backed companies on VCMC, across 113 funding rounds.
What are EQT's most valuable private companies?
Mistral AI ($25.2B), ElevenLabs ($22.1B), Harvey ($15.7B), by VCMC's valuation.
What was EQT's latest investment?
Pigment, a Series E round in Oct 2026 of $250M.
Which stages does EQT invest in?
EQT invests most often at Series C and later (54 rounds), followed by Series B (26) and Series A (23). It has also joined 7 seed and 3 other venture rounds.
What is EQT's portfolio worth?
Its private companies with a VCMC valuation are worth $177.1B together. That is the sum of the companies' values, not what EQT owns.
Who does EQT invest alongside?
Kurma Partners (10 rounds), Andera Partners (8 rounds), Sofinnova Partners (7 rounds).