AP3 is the Third Swedish National Pension Fund, a Stockholm-based public pension fund and institutional capital allocator for Sweden’s state income pension system. It invests with a long-term mandate across listed securities and alternative assets, including private equity funds, and is relevant to founders primarily as a long-horizon institutional investor or co-investor rather than a conventional venture capital firm. Its investment profile includes Sweden-focused activity and exposure to areas such as finance, infrastructure, real estate, energy, sustainability, CleanTech, manufacturing and mobility.