What Trill Impact does

Trill Impact is a Stockholm-headquartered European private markets firm founded in 2019 by Jan Ståhlberg (formerly a 25-year Institutional Partner at EQT Partners). The firm operates as a dedicated 'Impact House,' investing exclusively with the objective of delivering attractive financial returns alongside measurable social and environmental outcomes aligned with the UN Sustainable Development Goals. As of 2025 it manages approximately EUR 1.4 billion in assets under management and is structured as Trill Impact AB, a Swedish private limited company.

The firm runs three investment strategies: Buyout (control or co-control investments in established mid-sized companies in Northern Europe, executed via organic growth and buy-and-build), Ventures (minority investments in early-stage Green Tech and Life Science companies addressing environmental and health challenges, primarily in Western Europe), and Microfinance (private debt lending to microfinance institutions serving underserved groups in Latin America, Africa, and Asia). Investments are organized under three impact themes — Sustainable Planet, Healthy People, and Resilient Society — and supported by a proprietary 'IMPACT Approach' that integrates impact considerations across the investment lifecycle. The firm employs 55 professionals across offices in Stockholm, Munich, Copenhagen, Luxembourg, and New York.

Trill Impact monetizes through traditional private-markets revenue mechanics: recurring management fees charged on assets under management across its Buyout, Ventures, and Microfinance strategies, supplemented by performance-based carried interest on successful exits and ancillary investment advisory services. Its limited partner base comprises institutional investors including pension funds (AP4, AP6, Velliv, Nordea Life & Pensions), insurance companies (New York Life), asset managers (Allianz Global Investors, Nordea Asset Management as global distributor), and foundations (Lucie and André Chagnon Foundation). Distribution is executed via direct institutional sales and placement partners (Nordea Asset Management, Campbell Lutyens & Co, Acalyx Advisors Inc). Independent impact verification is conducted by BlueMark, and the firm is a signatory to the Operating Principles for Impact Management since 2020 and to the Principles for Responsible Investment, with top scores across all applicable modules in PRI's 2024 and 2025 Assessment Reports.

Name

Trill Impact

Legal name

Trill Impact AB

Website

https://trillimpact.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

Trill Impact is a Stockholm-based European private markets firm managing EUR 1.4 billion across Buyout, Ventures, and Microfinance strategies, delivering financial returns alongside measurable environmental and social impact to institutional investor limited partners.

Ownership category

akta.pro rank

Product category

Impact Private Equity and Venture Capital Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599), Credit Intermediation and Related Activities (522)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

akta.pro secondary industries

Impact Investing (Intentional, Measurable Social/Environmental Outcomes) (FSAAALAC), Impact / ESG Venture Capital (FSANAAAG), Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA), Impact Investment & Development Investment Funds (BPADACAO)

Keywords

• Impact investing
• Private equity
• Venture capital
• Asset management
• Sustainable investments

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Management Fees: Asset management fees charged on assets under management across Buyout, Ventures, and Microfinance strategies
2. Carried Interest/Performance Fees: Performance-based carried interest from successful portfolio exits
3. Investment Advisory Services: Advisory services for fund management and investment operations

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Trill Impact is an impact-focused private markets firm that manages closed-end Buyout and Ventures funds plus a Microfinance debt strategy, deploying capital into mid-sized companies in Northern Europe (Buyout), early-stage Green Tech and Life Science companies (Ventures), and microfinance institutions in emerging and frontier markets (Microfinance), with all investments screened for positive social and environmental impact alongside financial returns.

Product overview

Trill Impact is a European private markets firm operating as an Impact House with three core investment strategies: Buyout (control investments in mid-sized Northern European companies), Ventures (early-stage investments in Green Tech and Life Science companies), and Microfinance (private debt lending for financial inclusion in emerging markets). The firm organizes its investments across three impact themes — Sustainable Planet, Healthy People, and Resilient Society — each targeting specific Sustainable Development Goals through portfolio companies in sectors including building management, agriculture irrigation, education technology, healthcare software, cybersecurity, infrastructure, and clean energy. Trill Impact also publishes an Annual Impact Review as part of its transparency and impact reporting approach.

Differentiator

Problem solved

Functional benefit

Products and services

• Buyout Fund strategy Control or co-control investments in established mid-sized companies, primarily in Northern Europe, focused on organic growth and buy-and-build strategies to accelerate business and impact footprint. Targets companies aligned with the Sustainable Planet, Healthy People and Resilient Society themes.
• Ventures Fund strategy Minority venture investments in early-stage companies addressing environmental and health challenges of tomorrow, focused on Green Tech and Life Science / MedTech sectors in Western Europe.
• Microfinance debt strategy Private debt lending in emerging and frontier markets, supporting financial inclusion through credit to microfinance institutions serving underserved groups in Latin America, Africa and Asia.

Quantifiable outcome

• 212,000 tCO₂ emissions avoided through Sustainable Planet theme investments
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Value for GoodcoreStrategic or Co-development Partner · 27 May 2026Co-developed publication 'Practical perspectives on impact-driven value creation' exploring how investors can generate both financial returns and measurable impact. Value for Good is a social impact consultancy.
• BlueMarkcoreOthers · 3 March 2025Leading provider of independent impact verification that has verified Trill Impact's alignment with the Operating Principles for Impact Management. Trill Impact received highest possible ratings in all applicable categories.

Scale indicators11 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• KKR Global Impact: Global alternative asset manager with a dedicated impact strategy spanning PE, infrastructure, and credit. Comparable in its impact mandate and multi-strategy structure, though operating as a broad incumbent with materially greater AUM and resources.
• EQT Partners: Largest Nordic-headquartered private equity firm and the founder Jan Ståhlberg's previous firm of 25 years. Directly comparable in Northern European PE focus, with growing sustainability-themed funds, but operating at a far larger scale as a broad incumbent.
• Nordic Capital: Large Nordic private equity firm with multiple mid- and large-cap strategies focused on healthcare, technology, financial services, and industrials. Comparable in Northern European geographic focus and mid/large-cap approach, though broader in scope.

Direct peers

• responsAbility Investments: Swiss impact asset manager focused on private debt and equity investments in emerging and frontier markets, including microfinance and financial inclusion. Directly comparable to Trill Impact's Microfinance strategy in private debt lending for financial inclusion.
• Summa Equity: Norwegian impact-focused mid-market private equity firm investing in Northern Europe with a thesis-driven approach to societal and environmental outcomes. Directly comparable to Trill Impact's Buyout strategy in geography, size band, and impact-only mandate.
• Bain Capital Double Impact: Impact investing strategy of Bain Capital focused on measurable social and environmental outcomes alongside financial returns. Comparable in mission alignment, fund structure, and multi-strategy impact approach, though backed by a much larger parent platform.
• Bridges Fund Management: UK-based impact-focused investment manager with private equity, venture, and outcomes-based contracting strategies. Comparable in its exclusive impact mandate and multi-strategy structure spanning growth-stage to lower-mid-market PE.
• Altor Equity Partners: Northern European mid-market private equity firm investing across the Nordics and DACH region. Comparable in mid-sized Northern European buyout focus, though less explicitly impact-mandated than Trill Impact.
• TPG (TPG Rise): Global alternative asset manager with TPG Rise, a dedicated impact investing platform investing across climate, health, and equity. Comparable in its exclusive impact mandate and diversified PE/VC approach, though operating at significantly greater scale.
• BlueOrchard Finance: Swiss impact investment manager and pioneer in microfinance, providing debt and equity to financial institutions in emerging markets. Comparable to Trill Impact's Microfinance strategy through similar emerging-markets lending focus and impact mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/trillimpact

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trill Impact