Norwegian early-stage venture firm RunwayVC has reached a €40 million first close for Fund II. Aker, the sole LP in Fund I, continues as a cornerstone investor, joined by new LPs including Halliburton, Aker BP, Aker Solutions, KLP, and Investinor, alongside Norwegian industrial families and tech investors.
Fund II plans about 20 investments over three to five years, with typical initial checks of NOK 5-10 million and significant follow-on capital. The fund has already backed Minerva Humanoids, developing rugged humanoid robots for industrial operations, and HIVE Autonomy, a Physical AI company making industrial machines autonomous.