Since Neqst’s inception in 2008, we have invested in a relatively small number of exceptional companies. Or more correctly - we’ve invested in a few exceptional entrepreneurs. Because when we look at companies, we look at their products or services, their markets, their track record, but perhaps even more so their leaders. Do they have a vision? Can they execute on it? Do they share the same long-term approach to building companies that we do? If the answer to these questions is yes, are we confident that Neqst can add value in this particular situation?
If you’re an entrepreneur, take a look at our investment mandate [here]. Do you fit in? Then get in touch with us so we can learn about you, your company, your track record and your vision – and so that you can learn more about us.
Please read about the companies we have invested in below.
Harnessing real-time geospatial information, Carmenta creates software products, services and solutions for mission-critical systems. For more than 35 years, the company has been a trusted partner within the defence, security, traffic management and public safety industries. What all customers have in common is a need for high-performance geospatial technologies that deliver superior situational awareness.
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SEK 75 Million
2009 (Carmenta AB)
Gothenburg, Sweden
Europe
58%
Henrik Scharp (Chairman), Wolfgang Kroh
Torbjörn Lönnqvist
Spun out of Carmenta in response to the rise in connected and autonomous vehicles, Carmenta Automotive is fully focused on making vehicles and vehicle fleets more efficient, smarter and safer. The company draws on 35+ years of mission- critical software experience to build solutions with an intelligent, driverless future in mind. Using dynamic and static data, it's powerful cloud-based technology gives connected and automated vehicles constant awareness of their surroundings - far beyond line of sight.
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SEK 10 Million
2009 (Carmenta AB)
Gothenburg, Sweden
Europe
90%
Wolfgang Kroh (Chairman)
Miklós Tomcsányi
CatalystOne’s software and services enable companies to lift human resource management to a strategic level. The software functionality enhances HR decision-making and ensures alignment between individual goals and business goals. Serving the Nordic small and mid-size market, CatalystOne has full focus on delivery and customer service to support these companies’ needs.
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SEK 219 Million
2017
Oslo, Norway
Scandinavia
54%
Jonas Fredriksson (Chairman), Tobias Edvardsson
Avtar Jasser
CodeScene’s groundbreaking platform utilizes advanced patented algorithms and artificial intelligence to provide developers with actionable insights into their codebases. Unlike regular code analysis tools, CodeScene’s recommendations are personalized according to how each particular software organization works, helping teams to identify technical debt, optimize software architecture, and improve overall code quality. These insights are combined with the industry’s only source code metric with a proven business impact.
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EUR 2.3 Million
2023
Malmö, Sweden
Global
31%
Henrik Scharp (Chair), Jonas Fredriksson
Hamdija Jusufagic
At its inception, Digital Route provided data mediation solutions for telecom operators. Today, it is a world-class provider of data management technology, enabling digital transformations for customers across industries. Consistent throughout Digital Route's history is the ability to handle enormous amounts of data to ensure that customers get the right data to the right systems at the right time.
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SEK 400 Million
2008 (divested 2024)
Stockholm, Sweden
Global
96%
Wolfgang Kroh (Chairman), Erik Fröberg, Henrik Scharp
Andreas Zartmann
High Definition Resources (HDR) was built up as a Nordic-based media company offering comprehensive production and streaming services. Neqst invested in HDR in 2012. In the following years, we worked extensively with the company to improve financial stability and refine strategic positioning while broadening strategic scope and increasing geographical coverage through M&A. Together with management, we sold the company to NEP Group in November 2019.
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SEK 384 Million
2012 (divested 2019)
Stockholm, Sweden
Nordic
66%
Erik Fröberg, Jonas Fredriksson
Mats Dahlström
Keeparo (previously KSMG) is a full-service partner to companies aiming to find the right talent in a dynamic job market. With focus on social media channels, Keeparo helps companies to brand themselves as attractive employers and reach qualified applicants, using both services and digital solutions to ensure a smart, effective and modern recruiting process.
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SEK 92 million
2018 (Divested 2024)
Stockholm, Sweden
Europe
47%
Tobias Edvardsson (Chairman)
Amar Singh
Marton is the disruptive real estate broker offering a low fixed-price commission on sales. Operating under the brand names Marton and Hemverket, the company offers an efficient and value-adding sales process facilitated by a proprietary technology platform. Viewings, though? They believe that the homeowner is best suited to that job. In short, you show your home, Marton sells it.
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SEK 23 Million
2016
Gothenburg, Sweden
Sweden
81%
Jonas Fredriksson (Chairman)
Imre Marton
Netlight is an international provider of IT and management consulting services for digital leaders across industries. With more than 20 years’ experience at the forefront of the digital revolution, Netlight now has over 1700 consultants in offices throughout Europe. Netlight consultants bring competence, creativity and business sense to the table, working seamlessly with clients to solve seemingly unsolvable problems.
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SEK 2749 million
2021
Stockholm, Sweden
Europe
11%
Erik Fröberg (Chairman), Caroline Lindstrand
Katri Junna and Felix Sprick
Redpill Linpro may be the Nordic region’s most vocal proponent of open source technology. Its mission is to provide the support, solutions and services that enable customers across industries to optimize their use of open source products – and offer customers optimal flexibility, control and quality while saving money.
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SEK 799 Million
2013
Stockholm, Sweden
Scandanavia
82%
Jonas Fredriksson (Chairman)
Henrik Gavelli
Reputation&Trust Analytics – also known as T-Media in its native Finland – is a leading research company helping organizations to understand how their reputations are perceived by a wide range of stakeholders. Its proprietary research model provides a comprehensive framework for understanding and evaluating organizations’ reputation and trustworthiness through data, transforming reputation into manageable performance metrics.
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EUR 3.4 Million
2023
Helsinki, Finland
Europe
43%
Henrik Scharp (Chair), Per Lindtorp
Harri Leinikka
Sinch (previously CLX) brings businesses and people closer with tools enabling personal engagement. Its cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice and video. Sinch is a trusted software provider to mobile operators and its platform powers business-critical communications for many of the world’s largest companies.
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SEK 28 745 Million
2011
Stockholm, Sweden
Global
9%
Erik Fröberg (Chairman)
Laurinda Pang
Should the designer of a system also test the system to see if it works? System Verification was founded on the belief that the answer to that question is a resounding no. Now focused on testing, training and all forms of quality assurance, System Verification provides consulting services to a wide array of Sweden’s largest companies across industries.
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SEK 304 Million
2008
Malmö, Sweden
Europe
45%
Jonas Fredriksson
Erik Björhäll
Varnish Software offers software products and services that optimize web content delivery. Building upon the open source caching technology Varnish Cache, these products and services provide the most demanding customers with unparalleled reliability, speed and functionality in accessing any web content or streamed data. Slow sites? Never again.
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SEK 236 Million
2013
Stockholm, Sweden
Global
90%
Tobias Edvardsson (Chairman), Erik Fröberg, Henrik Scharp
Fredrik Borg
XLENT is a Swedish-Norwegian IT and management consulting group operating under the brand names XLENT and Differ. The company’s history is firmly rooted in its strong local relationships with customers. With 18 regional offices and over 500 employees, XLENT ensures its Nordic customers enjoy the benefits of a large strategy and technology partner combined with the attention of a local supplier.
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SEK 770 Million
2009
Stockholm, Sweden
Scandinavia
60%
Erik Fröberg (Chairman), Jonas Fredriksson, Tobias Edvardsson
Anders Franzén