ProVenture
ProVenture is a Norwegian seed-stage venture capital firm that backs early digital-technology startups from Trondheim and Stavanger. Founded in 2006, it runs three seed funds worth around 1.3 billion Norwegian kroner. Water sits at the edge of its portfolio: its one tracked water bet is InfoTiles, a Stavanger digital-water analytics company backed since 2023.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
ProVenture has been writing first cheques to Norwegian founders since 2006, which makes it one of the country's longest-running seed investors. It backs digital-technology startups, the broad software-and-deep-tech book you would expect from a fund grown out of Trondheim's NTNU engineering scene, with a second office down in the oil-and-gas city of Stavanger. Across three Seed funds it manages around 1.3 billion Norwegian kroner.
ProVenture would not call itself a water fund, and this page should not either. In my Leviathan database it shows up with a single water bet: InfoTiles, a Stavanger startup whose software reads the live data pouring off water utilities, catches leaks and treatment problems, and turns it into something an operator can act on. ProVenture backed it from its third fund in 2023, sitting alongside the regional energy utility Lyse and the Dutch impact investor 4impact Capital.
ProVenture's interest in InfoTiles fits a wider turn: since opening its third fund in March 2020, the firm has leaned toward digital technology with sustainability built into the business model. Water infrastructure, watched in real time and squeezed for efficiency, is squarely that kind of bet, even if it stays a small corner of a mostly generalist software portfolio. For a newcomer mapping who funds water in the Nordics, ProVenture is a name to file under occasional and opportunistic rather than dedicated.
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
Frequently asked
- What does ProVenture invest in?
- ProVenture invests in early-stage digital-technology startups, mainly software and deep tech at the seed stage across Norway and the Nordics. Founded in Trondheim in 2006, it runs three seed funds totalling around 1.3 billion Norwegian kroner. Water is an occasional theme, represented in its tracked portfolio by the digital-water company InfoTiles.
- Is ProVenture a water investor?
- ProVenture is a generalist Norwegian seed fund rather than a water specialist, and (don't) Waste Water rates its water commitment Occasional as of June 2026. Its single tracked water investment is InfoTiles, a Stavanger analytics company, backed across three funding rounds since 2023 alongside Lyse and 4impact Capital.
- Who runs ProVenture?
- ProVenture is led by Managing Partner Geir Ove Kjesbu, the former Q-Free and Investinor chief executive, with partners including Borgar Ljosland, Tom Arnøy, Ingvar Katmo, Frederik Hvistendahl and David Lysne. The team works from offices in Trondheim and Stavanger, Norway, and has backed founders since 2006.
- Where is ProVenture based?
- ProVenture is headquartered in Trondheim, Norway, with a second office in Stavanger. The firm has invested in Norwegian technology founders since 2006 and concentrates on the domestic Nordic market, running three seed funds worth around 1.3 billion Norwegian kroner.
- Which ProVenture invested in InfoTiles?
- The InfoTiles backer is ProVenture Management AS, the Trondheim seed venture firm at proventure.no, not the unrelated ProVenture mechanical, retail or consulting businesses that share the name. It invested from its third seed fund, ProVenture Seed III, in the May 2023 round with Lyse and 4impact Capital.