Profile
FSG (Fåhraeus Startup and Growth) is a venture capital firm based in Lund, Sweden, that invests at the intersection of life science and technology: digital health, medtech, diagnostics and life science tools. It grew out of Fårö Capital, the family office that serial entrepreneur Christer Fåhraeus (founder of CellaVision, EQL Pharma and Anoto) set up in 2000, and was founded as a fund manager in 2021.
FSG invests €1–6M per company over time, often in tranches tied to milestones, mainly at Seed and Series A and selectively at Series B. It backs commercial-stage companies with early signs of product-market fit, with Scandinavia as its home base and investments across Europe. Its second fund, FSG Fund II, held its final close at SEK 848M in January 2025, with SEK 233M from the European Investment Fund and Saminvest as a cornerstone investor.
The portfolio counts 26 companies, among them Yazen, Oncorena, Fida Biosystems, Aplagon, OssDsign and IntuiCell. Fund II's first exit came in May 2026, when Roche acquired SAGA Diagnostics for up to $595M.
Industry
FSG - Fåhraeus Startup and Growth Funds
| Name | Type |
|
|
|
Size | AUM | Launch date |
|---|---|---|---|---|---|---|---|
|
FSG Fund II
|
Venture Capital (VC)
|
HealthTech
MedTech
Life Sciences
Medical Devices
Biotechnology
|
Seed
Series A
|
Europe
|
$1-5 m
|
$77 M
|
January 2025
|
Contacts
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