Sashko Despotovski joins X2 Capital as Managing Director

Sashko Despotovski joins X2 Capital as an Managing Director (MD), with a vision of investing in the companies of tomorrow and growing the local investment practice in the global markets. He brings with him a wealth of international investment banking and fundraising experience, with focus on the technology, healthcare, retail and resource sectors.

“We are excited to have someone with Sashko's background taking pivot on the X2 Capital's activities, from fund deployment, board composition, and future fundraising” says co-founder and board member Elisabeth Øvstebø.  “We welcome him to our fast growing team.”

Sashko is a Canadian national living in Norway, emerging as a Corporate Finance Director from one of the Big Four, where he is currently a Special Advisor to their CEE team. In addition, he has held posts within several investment houses, funds and hedge funds in investment banking capacity, as well as in upper management and as a director for a number of companies in USA and Canada.

According to Despotovski, Norway offers unique opportunities at the moment. “The Norwegian venture fund scene is different from rest of the Nordics, and certainly apart from the investment approaches globally. It is time to bridge these gaps in order to allow for more local success stories. The talent and work etiquette are certainly available here, evidenced by Rokseth’s Pixavi and Jepson’s WooCommerce. Let’s maximise this potential and share more with the rest of the world,” says Despotovski.

Sashko is an active investor and board member to a number of Norwegian technology firms. “I'm thrilled at the opportunity to help shape the Norwegian startup ecosystem with such an energetic team, and to work alongside industry veterans such as Sean Percival, and local legends like Christian Rangen and Elisabeth Øvstebø” says Despotovski. As a MD, he will work closely with the startup scene in the Stavanger region to help shape the companies of tomorrow.

X2 Capital’s first investment fund is dedicated to startups emerging out of X2 Labs and X2 Growth programs. Despotovski says, “It is important to have Norway showcased for its talents in the areas outside of the traditional industries. Evolution of workplaces and skillsets are happening now, and Norway has every right to compete and be successful on the global scale.”


About X2 Capital
X2 Capital is an early stage investment fund, focused on growth stories in the Nordics and select European markets, also closely supporting the startups emerging from X2 Labs hyper-accelerator program and X2 Growth. X2 Capital has the unique opportunity to invest in the companies created during the hyper-accelerator program. With a vision of funding the future, the fund focuses on industries primed for global growth and is associated with local, Norwegian and global investors.

About X2 Labs
X2 Labs develops startup teams to co-found companies with global growth ambitions which solve real market challenges. X2 Labs 4-week hyper-accelerator programs address a range of themes from industries primed for growth, including Smart Cities, Digital Tourism, Food, Fintech and Digital Health.

About X2 Growth
X2 Growth is a multi-program accelerator program, taking companies through the critical phase from startups to scaleups. Offical launch Q1 2017.


Sashko Despotovski, +47 996 91 622,

Christian Rangen, +47 924 15 949, christian@x2inc.i

X2 Labs