Folksam and KPA Pension have invested roughly SEK 500 million in the fund Norrsken Venture Capital Fund II. The fund invests early in companies with the goal of solving some of the world’s biggest climate problems and challenges, while striving for a good financial return.
The fund, which is oversubscribed to EUR 320 million, is Europe’s largest in its field and invests in over 30 startups with the focus and goal of making a difference in important areas such as climate, energy transition and health and education. Alternative investments, such as this, complement Folksamgruppen’s portfolios with its long investment horizon, which also gives customers exposure to unlisted assets.
– The investment in Norrsken VC ll is well in line with Folksamgruppen’s goal of being an active actor towards net zero and transition. We have full confidence in Norrsken VC’s ability to drive development by supporting innovative entrepreneurs and startups that tackle some of the world’s major climate challenges, while also building successful new companies, says Rebecka Elkert, head of Alternative Investments Folksamgruppen.
Folksamgruppen strives to find long-term investments in areas such as climate and social sustainability that can make a big difference over time. In connection with the investment, Folksamgruppen takes a seat on the fund’s Advisory Committee, which gives the opportunity to closely follow the investment in terms of return and impact.
Norrsken one of Europe’s leading managers of early investments in the startup world. With headquarters in Stockholm, and an investment philosophy based on the UN’s 17 sustainability goals, Norrsken invests in startups that strive to solve the world’s most pressing problems while developing financially successful companies.
Distribution of the investment within the Folksamgruppen:
KPA Tjänstepensionsförsäkring: EUR 27 million
Folksam Tjänstepension: EUR 9 million
Folksam Liv: EUR 7 million
Konsumentkooperationens pensionsstiftelse: 2 million EUR
