Viking Growth announces successful closing of a new continuation fund for Nordic HR-tech platform Talentech
August 18, 2026
August 18, 2026
Trondheim, Norway / Stockholm, Sweden – 18 August 2026 – Viking Growth (“Viking Growth” or the “Firm”), the leading Nordic B2B software investor, is pleased to announce the successful closing of a single-asset continuation fund, Viking Growth Continuation Fund I AB (the “Continuation Fund”), to support the continued growth of Talentech (or the “Company”) – the leading Nordic all-in-one recruitment and human resources (“HR”) software platform. The Continuation Fund closed with total commitments of approximately EUR 160 million.
The transaction enables Viking Growth to extend its partnership with Talentech and its management team while providing additional capital to support the Company in its next phase of growth. Specialist secondaries manager Hollyport Capital backed the Continuation Fund as Sole Lead Investor, alongside several new and existing European investors.
“Establishing the Continuation Fund is a major step for Viking Growth. It provides substantial liquidity to our existing investors while allowing us to remain invested in Talentech, which is one of the strongest software platforms we have built. The transaction marks a step change in our Firm’s access to international institutional capital and in our ability to hold and scale our strongest Nordic software assets beyond a conventional fund life,” said Erik Fjellvær Hagen, Managing Partner, Viking Growth.
Joar Welde, Partner and Erik Fjellvær Hagen, Managing Partner at Viking Growth
Formed in January 2026 through the equal merger of Grade and Talentech, the Company has established the leading Nordic HR-tech platform, serving nearly 4,000 corporate and public-sector customers across all four Nordic countries, supporting more than 1.2 million users and over 650,000 recruitments each year. Talentech generates annual revenues of more than NOK 700 million, 95% of which is recurring, underpinned by long-standing customer relationships and a proven track record of buy-and-build consolidation, with 15 companies acquired to date. The Continuation Fund will enable Viking Growth and Talentech to remain at the forefront of consolidation within the Nordic HR market while delivering increased value to customers through further product development and AI-led innovation.
“Talentech has built a category-defining Nordic HR-tech platform, and this transaction reflects our conviction in the Company’s next chapter. The Continuation Fund allows us to support an exceptional management team with the capital and time needed to consolidate the market and accelerate AI-led product innovation,” said Joar Welde, Partner, Viking Growth, board member of Talentech and former Chairman of Grade.
“We are delighted to have Viking Growth’s continued backing as we enter our next phase of growth. Their continued support and the fresh capital from this transaction give us the resources and stability to invest in our product, our people and our customers as we scale across the region,” said Walter Leicher, Chief Executive Officer, Talentech.
“We are delighted to be supporting the Viking Growth and Talentech teams through our role as lead investor for this transaction. Talentech is a high-quality, market-leading software platform with a strong position in the Nordic HR-tech market and significant opportunities for further growth. We have been impressed by Viking Growth’s track record of building and scaling leading Nordic software businesses and look forward to partnering with the team as they support Talentech through its next phase of development,” said Richard Grindrod, Partner, Hollyport Capital.
Houlihan Lokey acted as exclusive financial advisor to Viking Growth in connection with the transaction. Advokatfirmaet CLP and Mannheimer Swartling acted as legal counsel to Viking Growth, and Proskauer acted as legal counsel to Hollyport Capital.
Viking Growth is the leading investor in Nordic B2B software, with over two decades of experience helping ambitious companies scale globally. Headquartered in Trondheim, Norway, Viking Growth provides capital, strategic guidance, and hands-on operational support to accelerate growth. Today, its portfolio includes 19 companies across the Nordics with a combined ARR of NOK 4.1 billion. For more information, visit www.vikinggrowth.com.
Talentech is the leading Nordic HR software platform serving public sector and large private clients across the full recruitment lifecycle. Talentech was formed in 2026 through the equal merger of Grade and Talentech, completed by their respective owners, Viking Growth and Verdane. The company serves nearly 4,000 private and public-sector customers. It supports more than 1.2 million users through a unified, AI-powered and data-driven platform spanning the employee lifecycle, from attracting and recruiting talent through to developing and retaining it. For more information, visit www.talentech.com.
Founded in 2006, Hollyport Capital is a leading specialist secondaries investor providing bespoke liquidity solutions to LPs and GPs. Since inception, Hollyport has raised nine Flagship Funds and currently manages approximately $11 billion in assets. Hollyport has a team of over 85 split between New York and London, where the Firm is headquartered. For more information, visit www.hollyportcapital.com.
Kongens gate 8, 7011 Trondheim
© Viking Growth 2025
.png)
