The firm has bought ownership stakes of between 15 per cent and 30 per cent in the companies, which will also receive additional growth capital.
They are internet household appliance retailer WhiteAway, internet streetwear retailer Caliroots, beauty products business Parelle/Eleven and online kitchen, home décor and furnishings seller Royal Design.
Verdane Capital Advisors partner Staffan Mörndal said, “We are very pleased that Verdane has invested in these four interesting assets and expanded Verdane’s portfolio of internet retailers to almost 20 holdings.
“Thanks to our experience from working closely with e-commerce companies since 2005, we will be able to propose 100-150 improvement actions to each of these four companies.
“Verdane always strives to contribute more than just capital to our portfolio companies”.
Earlier this year Norway-based Verdane exited its investment in software-as-a-service business KSD Software Norway.
The company was sold to The Descartes Systems Group for NOK190m ($32.8m).
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