Momentum Partners
Momentum Partners is a Nordic climate-tech venture capital fund based in Bergen, Norway, backing early-stage founders across energy, food and agriculture, industrial productivity, and the blue economy. Water is a thin slice of its work: as of 2026 it tracks one water company, flood-risk analytics firm 7Analytics, across two seed deals.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Momentum Partners has been writing cheques out of Bergen since 2013, which makes it one of the longer-running climate-tech investors in the Nordics, and as of December 2024 it is deploying a fresh war chest: a first close of around 400 million Norwegian kroner toward a 600 million target for its third fund, Momentum III, anchored by a 25 million euro commitment from the European Investment Fund alongside KLP, Investinor, Ferd and Farvatn.
Momentum Partners is a generalist climate fund, not a water fund, and it is upfront about that. Its Fund III thesis spans five areas where it reckons Nordic strengths meet global demand: energy, food and agriculture, industrial productivity, the blue economy, and climate adaptation. The blue economy is the closest Momentum gets to water as a category, and even there the lens is ocean industries and the wider climate transition rather than the utilities and treatment world a dedicated water fund chases.
Momentum Partners shows up in my Leviathan database for a single water bet, and it is a telling one. The fund backed 7Analytics, a Norwegian company whose cloud platform stitches high-resolution LiDAR elevation data to hydrological models so a developer or an insurer can see, street by street, where the water will go when it floods. That is water as risk and adaptation, not water as a pipe or a membrane, which sits inside a climate-adaptation thesis far more neatly than a water-treatment one.
Momentum Partners has backed one water company across two seed deals, alongside co-investors including Construct Venture, OBOS and Scale Capital, inside a wider portfolio of roughly twenty Nordic climate companies run by founding partner Arve Janbu Fresvik with Hilde Støle Pettersen and Svein Ove Langeland. The way I read it, Momentum is the climate generalist a water search turns up at the edges, a useful window onto how a Nordic transition fund touches water through flood resilience rather than a water specialist in disguise.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 1 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does Momentum Partners invest in?
- Momentum Partners is a Bergen-based Nordic climate-tech venture fund that backs early-stage founders across energy, food and agriculture, industrial productivity, the blue economy, and climate adaptation. It invests at seed and stays with companies through scaling. Water is not a focus area; its single tracked water company, 7Analytics, is a flood-risk analytics bet.
- Is Momentum Partners a water investor?
- Momentum Partners is not a dedicated water fund; it is a generalist Nordic climate investor. (don't) Waste Water rates its water commitment Occasional, because Momentum has backed one water company, 7Analytics, whose software maps flood and surface-water risk, as part of a much wider climate portfolio of around twenty companies.
- What water company has Momentum Partners backed?
- Momentum Partners has backed one water-related company that (don't) Waste Water tracks, 7Analytics. The Norwegian firm combines high-resolution LiDAR elevation data with hydrological models so developers and insurers can see where water will flood, making it a water-risk and climate-adaptation bet rather than a treatment play.
- Who runs Momentum Partners?
- Momentum Partners was co-founded in 2013 by Arve Janbu Fresvik, who serves as managing partner from Bergen. The investment team also includes managing partners Hilde Støle Pettersen and Svein Ove Langeland, plus investment director Christian Møgster. Its backers (the limited partners who fund it) include the European Investment Fund, KLP, Investinor and Ferd.
- Is Momentum Partners the same as Momentum Search Partners or Momentum Ventures?
- No. Momentum Partners, branded simply Momentum, is a Nordic climate-tech venture capital fund in Bergen, Norway. It is unrelated to Momentum Search Partners, Momentum Energy Storage Partners, Momentum Venture Partners and the various other firms worldwide that share the Momentum name.