Arendalsuka 2025

Building a Stronger Capital Market for Norwegian Growth Companies

During Arendalsuka, we brought together investors, policymakers, and industry leaders for a timely and important discussion on how to strengthen the capital market for Norwegian growth companies. The event was co-hosted with NHO Agder and NVCA, and centered around the thought-provoking theme “The world’s wealthiest state – the Nordics’ poorest entrepreneurs.”

The session addressed the structural challenges faced by companies with international growth ambitions, and explored how long-term, competent capital is essential for enabling scale, value creation, and global competitiveness.

The Importance of Collaboration Across the Ecosystem

To ensure a broad and representative discussion, we brought together key players from across the value chain, including Startuplab, Skagerak Capital, Cubera, and Storebrand. Together, they shared perspectives on what it takes to make Norway a better place to start a company and to scale it into a lasting success story.

A key takeaway from the discussion was the need for closer collaboration between private investors, institutional capital, and public actors. Such collaboration is critical to ensure that promising Norwegian companies are able not only to grow, but also to remain anchored within the Nordic ecosystem. The conversation also highlighted the importance of recycling both capital and experience back into the ecosystem, creating momentum that benefits founders, investors, and society at large.

Political Perspectives and Ambitions

We also invited politicians to share their perspectives and, equally importantly, to listen to the challenges and opportunities raised by leading investors in the market. We greatly appreciate FRP, Venstre, and Høyre for taking the time to send representatives and engage in the debate.

The political discussion touched on key framework conditions such as taxation and access to capital. While there were differences of opinion on specific policy measures, there was clear and broad agreement on one point: the ambition to make Norway a great place to be an entrepreneur.

With strong engagement from both the panel and the audience, the event underscored a shared commitment to strengthening Norway’s position as a country where growth companies can successfully scale.