The 5 most active family offices in the Nordics in 2025

Nordic family offices are deploying capital at an unprecedented pace in 2025, with Sweden’s industrially-focused investors leading the charge and Denmark’s maritime dynasties executing billion-dollar privatizations. In the following, we are analyzing which family offices from our market-leading familyofficehub.io database were the most active in 2025.

1. A.P. Moller Holding (Norway)

A.P. Moller Holding executed the Nordic region’s largest family office transaction with its privatization of Svitzer, offering DKK 285 per share at a 42.5 percent premium to achieve 93.4 percent ownership and delisting from Nasdaq Copenhagen in April and May 2025. The global towage company operates 456 vessels across 141 ports worldwide. Beyond this flagship transaction, A.P. Moller Holding deployed capital through a $100 million combined commitment with Maersk and ENEOS for C2X green methanol production in Louisiana, acquired a 51 percent stake in Spain’s Bergé Infrastructure & Logistics, and took a 40 percent position in Philippines-based AC Logistics. The Møller family’s consolidated assets exceed $116 billion, with investment focus spanning maritime services, port infrastructure, sustainable shipping fuels, and logistics across Europe, Asia, and the Americas.

2. Lars Larsen Group (Denmark)

Denmark’s Lars Larsen Group, the JYSK furniture retail dynasty owned by the Brunsborg family, pivoted strategically toward asset management with its DKK 7.5 billion commitment to Danish private equity manager IIP Denmark in April 2025. This 25 percent stake acquisition and fund commitment through 2032, executed with PKA pension fund as partner, represents one of the largest capital allocations by a Nordic family office in 2025. The family office also deployed €67 million in August 2025 through a joint venture with Dalgas to acquire forestland across Estonia, Latvia, and Lithuania. The group is reorganizing into “JYSK + Investments” effective FY26, signaling a shift toward investment-focused activities beyond retail operations.

3. Illusian (Finland)

Finland’s Illusian, founded by Supercell co-founder Ilkka Paananen, has emerged as the Nordic region’s most active venture investor in 2025. The family office participated in Riff’s €14 million Series A in Oslo during October 2025, backing the enterprise vibe coding platform alongside Northzone and Maki.vc. Illusian also participated in Vibe.co’s Series B round for business productivity software in September and completed a seed investment in Ovido during June. The office draws on operational expertise from former executives at companies including Wolt and Aiven, with a portfolio of 48 investments to date that includes prior positions in Swappie and Hopin.

4. First Fellow Partners (Finland)

First Fellow Partners, led by Nokia’s former chairman Risto Siilasmaa, has deployed capital into enterprise SaaS and AI without LP constraints. The family office led an $8.3 million Series A for IXI with Maki in April 2025, participated in Inven’s €11.2 million Series A in May, and committed to a €15 million seed round for Donut Lab in February. First Fellow Partners’ track record includes exits from Small Giant Games, Wolt, and Detectify, with investment focus on seed-to-early-stage SaaS and AI companies predominantly in the Nordic region with global scaling potential.

5. Ferd (Norway)

Norway’s Ferd, managed by the Andresen family with approximately NOK 50.4 billion in assets, deployed capital into climate technology and sustainability platforms during 2025. The family office participated in Nofence’s €30 million Series B in July 2025, backing the GPS-based virtual livestock fencing platform in Europe’s largest agtech round of the year. Ferd also participated in Kvist Solutions’ €1.3 million seed round in February for a construction and real estate sustainability reporting platform. The office’s portfolio is organized across six divisions including dedicated impact investing and social entrepreneurs arms. Ferd was also mentioned in the exclusive overview of the most active European family offices by familyofficehub.io.

Picture Source: Unsplash+ (November 24th, 2025)