About Fuels Capital

Fuels Capital is a Nordic private credit firm providing structured, asset-backed financing to entrepreneurs and privately held companies across Northern and Western Europe. We focus on fundamentally sound businesses, unlocking liquidity from illiquid asset bases and ownership structures to enable acquisitions, growth, and shareholder liquidity – always with a strong emphasis on downside protection.

Our strategy centres on senior secured and secured subordinated lending, typically backed by real estate, financial assets, or other hard collateral. We invest across two segments: (1) Growth – entrepreneurial capital for SMEs; and (2) Corporate – structured lending within the lower mid-market, with ticket sizes of EUR 5–25 million.

Founded in 2025, Fuels is already profitable and on a strong growth trajectory. Joining us means being part of an ambitious, entrepreneurial team building a distinctive European credit platform.

About the role

As Investment Associate at Fuels, you will work end-to-end across the deal lifecycle – from origination and credit analysis through structuring, negotiation and closing, into portfolio monitoring. You will be a core member of our investment team, working directly with senior partners on transactions ranging from entrepreneur-led financings to corporate facilities, with ticket sizes up to EUR 25m. Your responsibilities will include:

• Underwriting prospective transactions – building financial models and assessing collateral such as unlisted shares, fund and partnership interests, real estate and other illiquid assets

• Preparing investment memos and presenting opportunities to the Investment Committee

• Supporting origination through outreach and relationship building with entrepreneurs, owners, family offices, corporates and advisors

• Contributing to term sheets, structuring and negotiation of bespoke financing solutions

• Working alongside legal counsel on documentation and closing

• Monitoring the portfolio post-close

This is a broad, hands-on role with real ownership from day one, and a clear path to grow into a more senior seat.

About you

We are looking for someone with strong analytical foundations, commercial instincts and a genuine drive to build. You likely have:

• 2–5 years of relevant experience from investment banking, leveraged finance, private credit, direct lending, private equity, transaction services or a comparable credit-focused seat

• A degree from a leading university in finance, economics, engineering or a related quantitative field

• Solid credit and accounting fundamentals and confident financial modelling skills

• The ability to break down complex situations, form a clear view, and communicate it concisely

• A commercial mindset – you understand that a good investment team blends analytical rigour with the ability to win deals

• Fluent in English and Swedish (other European languages is not mandatory, but advantageous)

• Entrepreneurial, hands-on, comfortable taking initiatives in a fast-paced environment

What we offer

• Be part of a fast-growing company backed by a licensed financial group

• Entrepreneurial, high-trust culture with significant responsibility, exposure and incentive

• Beautiful office in central Stockholm

• Strong opportunities for professional growth and development