Norrsken Foundation has raised an impact vc fund to support entrepreneurs that solve the world’s greatest challenges.
- Norrsken has just launched a new fund by closing the first round of investors with 61 million euro out of a 100 million euro fund. The fund will invest in rapidly scaling early stage startups that use their business models to solve some of the world's greatest challenges, such as poverty, health, discrimination, integration, food waste, mental health and climate change.
The fund is based in Sweden and will invest primarily in Europe with a focus on the Nordics.
- The world is facing bigger challenges than ever, yet the solutions are chronically underfunded. Historically, investors have believed that making market returns can’t be combined with making the world a better place. They are wrong! Impact startups have a real competitive advantage today. They are able to attract the best talent through their mission driven approach, and consumer trends are shifting to demanding more sustainable products.
- The fund will be run by four general partners who have been working together on investing at Norrsken Foundation for the last 3 years - Tove Larsson (former Bain management consultant and COO of impact accelerator), Agate Freimane (former Morgan Stanley banker and startup builder) David Frykman (Entrepreneur and angel investor), and Niklas Adalberth (founder of Klarna and Norrsken).
- The fund manager’s proceeds and profits are directly linked to reaching impact targets individually set for each investment made. Any profits made by Norrsken Foundation or Niklas Adalberth as a general partner will be donated back to Norrsken Foundation and used to support entrepreneurs solving the world’s greatest challenges.
- Anchor investors in the fund include founders of Swedish tech unicorn companies - King, Mojang, Daniel Wellington and Klarna, Ramsbury Invest (H&M family office) as well as Swedish government owned company Saminvest AB.
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