The Swedish Fund Norrsken VC completes a second overwhelmed vehicle of 300 million euros, with the displayed ambition to bring out a new generation of “Unicorns” impact in Europe. A strong signal for Early-Stage In Impact investment, which seems to enter a new phase of industrialization.
Founded in Stockholm, Norrsken VC continues its ascending trajectory, three years after a first fund of 125 million euros, the team has just finalized a second round, carried by a strong institutional interest. Initially set at 250 million, the fund has finally raised 300 million euros, bringing together nearly 50 investors. It is the largest generalist Early-Stage Fund for Impact never lifted in Europe.
A new generation of impact scaleups
Norrsken VC’s thesis is to support startups capable of having a measurable effect on at least one billion people from the start of startups. These “unicorn impact”, according to their own definition, must combine global ambition, technological scalability and strong alignment with climatic or social objectives.
More than 30 startups should be funded by this new fund in five major areas: climate, energy, health, biotechnology and responsible artificial intelligence. David Frykman, General Partner wants to strengthen the presence of the fund on the Swedish market while actively exploring opportunities throughout Europe.
The first investments in fund II include:
- WirelessEuropean supplier of sovereign cloud
- Granula Energyspecialist in real -time monitoring of the origin of green electricity
- Sunsavesolar energy subscription service in the United Kingdom
- Material EvolutionBritish producer of low carbon cement
A Swedish base, a continental ambition
Among the investors of this new fund are several heavyweights of European institutional capital: AP1the Swedish national pension fund, FolksamSwedish insurer, KFW Capital In Germany, the Irish sovereign wealth fundas well as the European Investment Fund (EIF) via the program Invested. Private actors like Bmw,, UBS (ex-Credit Suisse), Investcorp-Tages,, Seb-Stiftelsen And Nordaa also participated in the lifting.
This dynamic exceeds Europe. Last November, the sister structure Norrsken 22focused on Africa, had also announced a raising of $ 205 million for its first Tech Growth fund, confirming the growing influence of the model initiated by the North Foundation.
