Stockholm-based Norrsken VC, an early-stage impression enterprise capital fund, introduced on Tuesday the ultimate closing of its oversubscribed second fund at €320M, surpassing the unique goal of €250M.
The finalised complete makes Norrsken VC Fund II the biggest early-stage generalist impression fund in Europe.
Who backed Norrsken VC II fund?
The Norrsken VC II fund is backed by nearly 50 LPs, on the lookout for impression in addition to monetary returns. Institutional traders embody AP1, Folksam, Saminvest, KfW Capital, and the Eire Strategic Funding Fund (ISIF).
Additional monetary backers embody Credit score Suisse (now merged with UBS Group), Investcorp-Tages, BMW, SEB-Stiftelsen and Nordea. The fund is finalised by a roster of unicorn founders and influential enterprise figures, together with Azeem Azhar.
Investing in 30 impression startups
The Swedish VC goals to speculate its second fund in over 30 impression startups, offering these firms with the capital wanted to quickly scale and sort out a number of the world’s best challenges.
Niklas Adalberth, Basic Accomplice of the fund and founding father of Norrsken Basis, says, “Our long-term imaginative and prescient is to see each greenback invested globally as a web optimistic for folks and planet. With Norrsken VC II we intention to seek out, again, and empower power of nature founders, and set them on a path to construct impression unicorns – firms that positively impression 1 billion lives.”
Norrsken VC fund invests in firms with a transparent environmental or social impression goal. The fund follows strict standards aligned with the United Nations Sustainable Growth Targets and the EU’s Sustainable Monetary Disclosures regulation.
Norrsken VC was one of many first funds in Europe to implement a construction that hyperlinks its monetary compensation incentives to attaining impression targets, demonstrating its dedication to impression.
The VC focuses on sectors together with local weather tech, vitality, biotech AI, and well being tech.
Thus far, Norrsken VC has invested in 50+ startups, together with unicorns Northvolt, Einride, and 1KOMMA5°.
Tove Larsson, Basic Accomplice of Norrsken VC, says, “Whereas extra funds have joined the sector since our inception, it stays comparatively uncrowded, with lower than 1% of world capital devoted to impression investments. Urgency is clear as we’ve exceeded six of 9 Planetary Boundaries, underscoring the necessity for investments in improvements for a extra liveable world. We’ve overtly shared our funding philosophy, urging fellow impression traders to undertake it and thrive. With our second fund, we’re dedicated to discovering the most effective impression founders within the DACH area.”
Norrsken VC: Supporting the impression entrepreneurs
Based in 2016 by Niklas Adalberth, co-founder of Klarna, Norrsken VC is Europe’s main early-stage impression enterprise capital fund.
It was born out of Norrsken, a non-profit impression ecosystem that connects founders with the capital, information, and community they should make saving the world their enterprise.
Norrsken VC runs as an unbiased funding agency from the Norrsken Basis and was established by the 4 normal companions David Frykman (ex. Gymgrossisten), Tove Larsson (Bain & Firm), Agate Freimane (Morgan Stanley) and Niklas Adalberth (co-founder of fee companies unicorn Klarna).
The remainder of the 15-strong Norrsken VC contains life-long traders throughout enterprise capital, personal fairness, and funding banking, plus startup operators. The workforce is predominantly Sweden-based however with a worldwide funding thesis.
David Frykman, Basic Accomplice of the Norrsken VC says, “We’re overwhelmed and thrilled to be closing this oversubscribed fund. This surge in curiosity validates our perception within the impression + return mannequin we’ve helped set up right here in Sweden. With our new fund, we’ll double down on our native market whereas concurrently trying throughout Europe for visionary founders who share our ardour for creating a greater future. We’re on the lookout for disruptors tackling local weather change by way of revolutionary vitality options, alongside developments in well being, accountable AI, and adaptation methods.”
Agate Freimane, Basic Accomplice of Norrsken VC, says, “Local weather is now the primary greatest vertical in European VC, and for good cause. What units Norrsken VC aside is our unwavering Article 9 dedication. This implies sustainability isn’t a checkbox, it’s the funding thesis. This, mixed with our deep experience and confirmed observe document, makes us a magnet for the world’s most inspiring mission-driven founders. For us, impression isn’t optionally available, it’s our shared backside line.”
