TURBINE CAPITAL: BUILDING EUROPE’S DEEPTECH FUTURE
From left to right; Pär Hedberg (Partner), Karin Edström (Managing Partner), Anders Ösund (Managing Partner) - Turbine Capital
In the dynamic world of entrepreneurship, true impact is measured not only by accolades but by the lasting ecosystems leaders build. As a proud member of the Global Startup Awards alumni community, Sting was awarded Best Accelerator/Incubator Program during Edition 8 of the competition in 2021, recognized for its outstanding contributions to the entrepreneurial landscape.
Building on this momentum, Sting has once again demonstrated its commitment to innovation by launching Turbine Capital, a new, ambitious early-stage venture fund focused on deeptech.
“We are so happy to have been awarded the World's Best Accelerator/Incubator 2021 by Global Startup Awards. This means a lot to us at Sting and inspires us to continue developing the startup ecosystem in Stockholm, now with Turbine Capital."
— Pär Hedberg, Initiator of Turbine Capital and Founder of Sting.
DEEPTECH WITH PURPOSE: INTRODUCING TURBINE CAPITAL
Turbine Capital addresses a critical gap in the venture landscape: the unique needs of early-stage deeptech startups. Unlike traditional venture capital funds, Turbine Capital offers strategic industrial partnerships, direct corporate access, and a curated support ecosystem from top university-affiliated incubators.
Recognizing the longer development cycles, complex technologies, and intricate market pathways that deeptech startups face, Turbine Capital was designed to empower founders through:
Hands-on value creation: Supporting founders beyond funding by refining strategies, connecting them with customers, and guiding follow-on fundraising.
Industrial validation and partnerships: Bridging startups with major corporations actively seeking transformative technologies.
A curated deeptech ecosystem: Through its network of partner incubators, founders gain strategic support from day one.
A CLEAR IMPACT-FOCUS
Turbine Capital backs startups that are not only technologically advanced but also poised to address major challenges across the Planet, Industry, Society, and Geopolitics.
Its portfolio focus spans:
AI and Data Analytics
Bio-, Agri-, and Healthtech
Advanced Materials and Nanotechnology
Energy and Environmental Technology
Robotics and Industrial Automation
Semiconductor and Photonics
Quantum Computing
Security and Cybertechnology
Space Technology
This mission-driven approach ensures that investments contribute meaningfully to society while offering strong economic potential and defensible technology bases.
A NEW MODEL FOR DEEPTECH INVESTMENT
On April 15, 2025, Turbine Capital announced the first close of its fund, securing 40% of its €75 million target. Uniquely positioned as Europe’s first deeptech fund backed by both industrial corporations, including Saab Ventures, and university-affiliated incubators, Turbine Capital exemplifies a new model of cross-sector collaboration.
"When leading corporations and university-affiliated incubators join forces, we create more than just a fund, we build a cross-sector collaboration powerhouse for scaling deeptech innovations.”
— Pär Hedberg, Initiator of Turbine Capital and Founder of Sting.
With a 15-year investment horizon, the fund plans to support 30-40 early-stage deeptech startups, propelling them from pioneering technologies to globally competitive businesses.
Anchored by Saminvest and supported by Sweden’s top incubators and Sting itself, Turbine Capital is a strategic cornerstone for Europe’s ambitions to lead in deeptech innovation.
“Innovation is a core element of Saab’s future development. The investment in Turbine Capital will complement Saab’s existing innovation efforts by providing a broader perspective on early deeptech companies in Sweden."
— Jonas Lundeberg, Head of Saab Ventures.
ALUMNI IMPACT: A TESTAMENT TO THE POWER OF ECOSYSTEMS
At the Global Startup Awards, we champion the belief that the entrepreneurs and organizations we celebrate today are the ecosystem builders of tomorrow. Sting’s journey from global winners to the launch of Turbine Capital is a powerful reminder of how recognition, ambition, and innovation intertwine.
Their story reinforces why investing in the entrepreneurial ecosystem matters because the impact doesn’t end at the awards ceremony. It grows, scales, and ultimately, helps shape the future.
Congratulations to Sting and the Turbine Capital team.
We can’t wait to follow your ventures.
Learn more about Turbine Capital at: https://www.turbinecapital.vc/