Norrsken VC, spearheaded by Niklas Adalberth, co-founder of Klarna, has successfully closed a €320 million fund.

Notable backers include the H&M family and leading financial institutions such as SEB and Nordea. This fund surpasses its initial €250 million target, aiming to bolster tech unicorns in Europe, following successful investments in companies like Northvolt and Einride.

Adalberth highlights the fund’s track record, with investments in three unicorns demonstrating that impact investing can yield substantial returns. The fund’s success attracts top-tier limited partners who see both the financial and social value of their investments. This strategic shift is bolstering Europe’s tech landscape, particularly in green tech and impact-driven startups.

Agate Freimane, General Partner at Norrsken, emphasized the growing interest from investors who demand proven impact alongside financial returns. The fund focuses on the Nordics, Germany, and the UK, prioritizing sectors aligned with the UN Sustainable Development Goals, like climate action and biotech.

With its roots deeply embedded in the impact sector, Norrsken continues to expand its influence globally, aiming to drive the necessary change for a sustainable future.