Propel Capital, Sweden's most prolific angel investment network, has announced the launch of its seventh angel round, Propel Capital VII. Between 2025 and 2027, Propel Capital aims to invest in at least 40 new early-stage startups.
With over 210 investments and 47 successful exits to date, Sweden’s most active angel investor network is now launching Propel Capital VII, the seventh angel investment company in the Propel Capital series. The ambition is to invest in at least 40 promising early-stage startups between 2025 and 2027, with a strong focus on areas where technology addresses major societal and market needs, such as climate and health. Behind the initiative is Sting, a leading startup support organisation that has helped nearly 500 companies grow since 2002.
Propel Capital provides startups with early-stage capital and strong operational support. It’s also a unique platform for angel investors to connect with emerging companies and build relationships for future investments. The model has opened doors for founders and investors, inspiring six similar initiatives across Sweden.
Since its inception in 2014, Propel Capital has backed more than 210 Swedish startups, including Qasa, Sellpy, and Reorbit. A total of 47 exits have been completed – eight of them in 2024 alone. Three earlier investment companies have been successfully closed, each delivering a return of 1.6–1.7x on invested capital, despite Propel Capital making only one initial investment per company and not participating in follow-on rounds.
Among the current portfolios (Propel Capital IV–VI) are 28 climate tech startups, 27 in health tech, and 50 with female CEOs. Propel Capital VII launches with SEK 27 million in capital, including matching from Saminvest, and aims to invest in at least 40 new companies during 2025–2027.
“With Propel Capital, we offer startups something unique – early capital yes, but more importantly, a network of deeply engaged investors. That combination is powerful and works,” says Karin Ruiz, CEO of Sting.
Exclusive access to Sweden’s next high-growth companies
Investing through Propel Capital means getting in before the rest of the market catches on. Only about 6 per cent of startups that apply to Sting are accepted, and those are the companies Propel Capital invests in. This gives investors a highly curated and unique deal flow, often well before the companies become visible to others.
Propel Capital is backed by a network of over 120 angel investors, making it Sweden’s most active community for early-stage investing. Around 39 investors are participating in Propel Capital VII, many of whom are returning participants from previous investment companies.
“With Propel Capital, you're not just early – you're at the heart of Sweden’s startup scene. Our investors gain exclusive access to the companies set to become the next tech success stories, long before the market knows they exist,” says Emanuel Andersson, CEO of Sting Holding and Head of Investments at Propel Capital.
An active community that builds winners
Propel Capital is more than just an investment company—it’s a collaborative platform where angel investors invest together, share insights, and actively support the companies they back. In addition to capital from Propel Capital, portfolio startups gain a circle of committed owners with real-world experience. In fact, 40 per cent of companies also receive direct investments from Propel Capital’s angel investors—a key pillar of the model.
“What attracted me to Propel Capital was the opportunity to get in early with truly promising companies – and to contribute with more than just capital. It’s inspiring and rewarding to be part of a community where you work closely with driven founders and experienced investors,” says Louise Richnau, investor in Propel Capital V, VI, and VII.
A model that set a new standard for early-stage investing
With seven investment companies and over SEK 130 million raised, Propel Capital has established itself as Sweden’s most experienced and active angel investment network. SEK 110 million is currently raised (Propel Capital IV–VII). Through a co-investment partnership with Saminvest, where selected angels receive matched funding, total capital under the Propel Capital umbrella now exceeds SEK 190 million.
With its strong selection process, engaged investor community, and opportunity for hands-on involvement, the Propel Capital model has become a benchmark in the Swedish startup ecosystem and has inspired similar models across the country.
“We’ve proven again and again that this model works. It’s scalable, sustainable, and gives both investors and entrepreneurs the best possible foundation for success,” says Emanuel Andersson.
About Propel Capital and Sting
Propel Capital is a strategic initiative powered by Sting, one of Europe’s leading organisations for startup support and early-stage investment. Since 2002, Sting has supported nearly 500 startups, which together have raised more than SEK 5 billion. Through Propel Capital, entrepreneurs gain early access to an exclusive network of experienced angel investors and operational support from day one.
Building a startup and ready to grow faster? Apply to Sting and get a chance to join Propel Capital.
