HomeSwedenNorrsken VC Closes Second Impact Fund, at €320M

Norrsken VC Closes Second Impact Fund, at €320M

Norrsken VC, a Stockholm, Sweden-based early-stage impact venture investor, closed its second fund, at €320m.

Backers include almost 50 LPs, such as AP1, Folksam, Saminvest, KfW Capital and the Ireland Strategic Investment Fund (ISIF), Credit Suisse (now merged with UBS Group), Investcorp-Tages, BMW, SEB-Stiftelsen and Nordea.

Norrsken VC Fund II is an early stage venture capital vehicle with sustainability as its core investment objective, focusing on Seed to Series A rounds in European companies. It is impact-agnostic, backing teams solving high-severity problems with scalable, transformative potential across the UN’s 17 Sustainable Development Goals.

Led by General Partners Agate Freimane, Niklas Adalberth, and Tove Larsson, David Frykman, the firm has invested in over 50 startups across areas including climate tech, energy, biotech AI and health tech, including Northvolt, Einride and 1KOMMA5°.