Norrsken VC, a European venture capital firm, has recently announced the successful closure of a new €320 million impact investing fund. This significant financial injection is aimed at discovering and nurturing the next generation of environmentally conscious unicorns in Europe.
The fund has attracted major investments from institutions such as Credit Suisse, BMWs pension fund, and the family behind the global fashion retailer H&M.
About Norrsken VC
Established in Sweden in 2017 by a group of impact capitalists, Norrsken VC serves as the venture capital division of the Norrsken Foundation.
Its mission is to direct more capital towards entrepreneurs dedicated to building impactful businesses.
As a prominent player in European venture capital scene, Norrsken VC holds the designation of an SFDR Article 9 or "Dark Green" fund.
This status underscores its commitment to sustainability, with each investment directly contributing to at least one of the United Nations' 17 Sustainable Development Goals (SDGs).
The team is dedicated to working closely with every startup in the portfolio, assisting them in defining, measuring, and amplifying their impact.
Norrsken VC adopts a pragmatic and results-driven approach to impact investing, supporting the elite top 1% of startups in the impact space, including several that have achieved Unicorn status.
The firm focuses on tangible outcomes and is committed to fostering growth and innovation in each venture it backs.
Overview of the New Fund
The fund will primarily target startups in the Nordics, Germany, and the UK, with a keen focus on sectors like climate technology, biotechnology, and energy.
All investments will strictly align with the UN Sustainable Development Goals, ensuring that financial gains do not come at the expense of environmental or social integrity.
- Fund Size: €320 million
- Key Investors: Credit Suisse, BMWs pension fund, H&M family, SEB, Nordea
- Focus: Impact investing targeting tech unicorns with clear environmental and social objectives
Strategic Impact and Investor Confidence
Founded by Niklas Adalberth, co-founder of Klarna, Norrsken made headlines in 2019 with its first fund of €100 million.
The firm has since proven its capability by investing in successful companies like Northvolt and Einride, both valued at over $1 billion.
These success stories bolster the fund's strategy of combining competitive returns with positive social impact.
Success Stories and Market Influence
Norrsken's portfolio boasts several unicorns, including Northvolt, Einride, and German cleantech group 1Komma5.
These companies exemplify the potential of impact investing to achieve substantial financial returns while contributing positively to society.
The enthusiasm for impact investing has grown, leading to Norrsken's latest fund surpassing its initial target of €250 million.
The Norrsken Ecosystem
Beyond the venture fund, Norrsken operates a vibrant ecosystem that includes social entrepreneur centers in Stockholm, Barcelona, and Kigali, and a foundation that supports various funds, including one focused on African startups.
