An independent manager of alternative investment funds

Avanto Capital manages funds in listed and unlisted markets. We find opportunities where others aren't looking, and we invest our own money in every fund we manage. Established in 2015. Seven funds invested. Two funds open.

OUR STORY

We have one goal: return on capital

Avanto Capital is an independent manager of alternative investment funds, regulated by the Financial Supervisory Authority of Norway as an AIFM. We were established in 2015 and have since managed five funds in the unlisted market and one hedge fund in the listed market.

We find opportunities where others aren't looking, through an international network, our own analysis, and inventiveness. We are small by design: no committees, no politics, fast decisions, and clear accountability. We put our own money to work in every fund we manage.

Manager of alternative investment funds (AIFM), regulated by the Financial Supervisory Authority of Norway.

What we believe

We believe the market, over time, rewards independent thinking and patience. We don't invest to look like everyone else. We invest to be right and to generate strong risk-adjusted returns. That means we're sometimes early, sometimes alone, and always comfortable holding views the consensus doesn't share. Our strength is the combination of structured analysis and the willingness to act where others hesitate.

The story behind the name Avanto

Avanto was Rune Mæle's first horse at national team level. Rune is an accomplished dressage rider who has competed at a high level, and the partnership between them left an early mark. Riding was his first experience of what a good partnership requires: trust, patience, and the willingness to find the rhythm together.

That's good grounding to carry into an investment business. Years later, when it came time to name his alternative investment company, the choice was easy. Since 2015, Avanto has stood firmly on its own.

Rune on Avanto. Photo: Jon Inge Ommundsen, Stavanger Aftenblad.
FUnd overview and track record

Ten years. Seven funds. Two strategies.

Unlisted

Fund AO I - 2016 - Closed

Fund AO II - 2019 - Closed

Fund AO III - 2021 - Invested

Fund AO IV - 2024 - Invested

Fund AO V - 2025 -Open

Listed

Carbon Holder - 2022 -  Closed

Avanto Right Tail - 2023 - Open

StrategY
Our co-investors care about transparency, good discussion, and results. We invest our own money in the funds and have short decision-making lines and clear accountability.
Rune Mæle
Founding partner
We don't look for what everyone else is looking for. If everyone sees the same thing, it's already priced in. Avanto has the patience required to generate returns, and the courage to stand alone a little longer than is comfortable.
Rune Mæle
Founding partner
Instead of hunting for extreme downturns, we found it more effective to hunt for extreme upturns. They're actually more common than people think.
Lars H Mikelsen
Partner
Successful investing is about more than numbers. It's about sharing perspectives and creating value together with other investors.
Lars H Mikelsen
Partner
ArtiCLES

Our thinking

We write to explain our thought process and share our point of view. Direct, unhedged, and free of mainstream thinking. Articles are originally written in Norwegian, translated with AI. If anything reads unclear, the Norwegian version is the one to trust.

Who is shouting "bubble"? And why memory, of all things?

Micron has skyrocketed. So have SK Hynix and Samsung's memory division. And as if on cue, a host of people have appeared on X, in comment sections, and during coffee breaks who have found their new favorite word: bubble. Let's pause there for a moment.

Asymmetri som strategi

Symmetri signaliserer god helse, stabile gener, fravær av utviklingsforstyrrelser. Det er en evolusjonær snarvei: hjernen vår tolker symmetri som “alt er på stell”. I investeringer er det stikk motsatt; der er asymmetri det du burde leter etter.

Infinite supply

What happens when machines take over human labor? In 2022, what has subsequently been called “The Chat-GPT moment” occurred. In 2026, we will have what will eventually be called “The OpenClaw moment”.