TLDR:
- Norrsken VC, known for impact investing, closes Fund II at €320 million, making it the largest early-stage impact fund in Europe.
- Fund backed by almost 50 LPs, including institutional investors like AP1, Folksam, and EIF, as well as unicorn founders and business figures like Azeem Azhar.
Norrsken VC, a Swedish company specializing in impact investing in Europe, has successfully closed its second fund, Norrsken VC Fund II, at €320 million. The fund, initially targeting €250 million, has surpassed expectations to become the largest early-stage generalist impact fund in Europe. This milestone was achieved with the backing of almost 50 limited partners (LPs), including institutional investors like AP1, Folksam, Saminvest, and EIF, as well as unicorn founders and influential business figures such as Azeem Azhar.
The fund’s focus is on social and environmental impact, aligning its criteria with UN Sustainable Development Goals (SDGs) to assess impact and sustainability throughout the investment process. Norrsken VC also complies with the EU’s Sustainable Financial Disclosures (SFDR) regulation as an Article 9 or “dark green” fund, meaning that all investments have a clear environmental or social impact objective.
With a mission to empower impactful entrepreneurs and drive positive change through innovation, Norrsken VC aims to invest in disruptors tackling climate change, advancements in health, responsible AI, and adaptation strategies. The fund has a track record of investing in sectors like climate tech, energy, biotech, AI, and health tech, with a focus on companies that have a tangible impact at the core of their business model.
Operating as an independent investment firm from the Norrsken Foundation, Norrsken VC was established in 2016 by general partners David Frykman, Tove Larsson, Agate Freimane, and Niklas Adalberth. The firm has a global investment thesis and has invested in over 50 startups to date, including unicorns like Northvolt, Einride, and Klarna.
By closing Fund II at €320 million, Norrsken VC reaffirms its commitment to finding and supporting impactful founders across Europe and catalyzing the growth of companies that positively impact billions of lives.
