Norrsken Evolve

What Norrsken Evolve does

Norrsken Evolve is a Stockholm-based pre-seed venture capital fund and accelerator that invests in European impact-driven founders building solutions in sustainability and resilience. The firm was rebranded from Norrsken Accelerator in August 2025 upon the launch of a €57 million fund backed by Saminvest AB (Swedish Government-owned), the European Investment Fund, and the European Union under the InvestEU program. Norrsken Evolve is the venture arm of the Norrsken Foundation, a non-profit founded in 2016 by Klarna co-founder Niklas Adalberth.

The fund provides €250,000–€500,000 equity investments per portfolio company, typically targeting ~5% ownership when leading, with a transparent follow-on mechanism tied to a 50% valuation uplift in material rounds led by recognized investors. Beyond capital, every portfolio founder joins a mandatory in-person sprint program and pitches at the annual Norrsken Impact/Week demo day in Barcelona. The firm screens more than 3,000 startups per year, invests in approximately 20, and reports a sub-0.7% acceptance rate and a claimed program NPS of 100. To date, Norrsken Evolve has invested in more than 80 companies, with 75% going on to raise follow-on capital from leading investors.

Norrsken Evolve's revenue model is standard for a venture fund: it earns management fees on committed capital and carries a share of profits on successful portfolio exits. The firm is led by General Partners Alex Bakir, Rebecka Löthman Rydå, and Johan Attby, with Norrsken Foundation co-founder Funda Sezgi involved as co-CEO of the parent foundation. The fund primarily serves founders from the EU27, EU Candidate Countries, and the UK, with selective participation in high-potential companies outside Europe across sectors including energy, mobility, built environment, industrial decarbonization, food and agriculture, healthtech, cybersecurity, and AI infrastructure.

Name

Norrsken Evolve

Legal name

Norrsken Evolve

Website

https://norrskenevolve.vc

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

1–10 employees

Short description

Norrsken Evolve is a Stockholm-based pre-seed venture capital fund that invests €250K–€500K in European impact-driven founders across sustainability, resilience, and AI infrastructure sectors, backed by a €57M fund and an in-person accelerator sprint.

Ownership category

akta.pro rank

Product category

Venture Capital / Impact Tech Pre-seed Investing

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

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

akta.pro secondary industries

SDG / Thematic Sustainable Investment Funds (FSANAJAN), Impact Investment & Development Investment Funds (BPADACAO)

Keywords

• Pre-seed venture capital
• Impact tech investing
• Startup accelerator program
• European startup funding
• Sustainability venture capital

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. VC Fund Management / Carried Interest: Norrsken Evolve generates returns through managing a pre-seed venture fund, investing in early-stage startups in exchange for equity. The fund earns management fees and carried interest on successful exits. Backed by Saminvest AB (Swedish Government-owned), European Investment Fund, and European Union under InvestEU.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Norrsken Evolve is a €57 million pre-seed venture capital fund and accelerator that provides €250,000–€500,000 equity investments (targeting ~5% ownership) to European impact-driven early-stage founders. Portfolio founders also participate in a world-class in-person sprint program, gain access to a network of unicorn-building advisors and operators, and pitch on stage at the annual Norrsken Impact/Week demo day in Barcelona. The fund is backed by Saminvest AB, the European Investment Fund, and the European Union under the InvestEU programme, and it targets sustainability and resilience themes across energy, mobility, built environment, industrial decarbonization, food & agriculture, health tech, cybersecurity, and water security.

Product overview

Norrsken Evolve is not a product company but rather a €57 million pre-seed investment fund and accelerator program that supports European impact-driven startups. The firm provides equity investment ranging from €250,000 to €500,000, along with a world-class in-person sprint program, access to a network of prominent founders, investors and operators, and a demo day at the annual Norrsken Impact/Week in Barcelona. The company has invested in over 80 portfolio companies across sustainability, deeptech, and infrastructure sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Norrsken Evolve Pre-seed Fund A €57 million pre-seed venture capital fund that invests €250,000–€500,000 of equity into European impact-driven startups, targeting ~5% ownership when leading and supporting rounds with follow-on capital. Available to founders building in sustainability and resilience sectors.
• In-person Sprint Program An in-person accelerator sprint program that every Norrsken Evolve portfolio founder joins, providing mentorship from a network of founders, operators, and investors (including unicorn-builders) and structured programming to accelerate early-stage growth.

Quantifiable outcome

• 80+ companies invested, 75% raised follow-on funding from leading investors
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Entrepreneurs FirstcoreStrategic or Co-development PartnerBubble Robotics launched out of Entrepreneurs First (EF) in 2025. Norrsken Evolve invested in the company following its EF launch. EF is a platform for identifying and supporting deeptech and AI talent at the earliest stages.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Antler: Global pre-seed investor and accelerator operating across Europe with cohort-based programs. Directly comparable to Norrsken Evolve in stage, ticket size and founder-support model.
• Episode 1 Ventures: UK-based pre-seed/seed fund that co-invests with Norrsken Evolve (e.g., Bubble Robotics). Closely comparable in stage, geography and check size.
• Speedinvest: Large European early-stage VC with a dedicated climate/impact and deeptech practice, frequently co-investing at pre-seed/seed in the same sectors as Norrsken Evolve.
• byFounders: Nordic/European pre-seed and seed fund that has co-invested with Norrsken Evolve (Spiral Hydrogen). Comparable stage, geography and impact orientation.
• HTGF (High-Tech Gründerfonds): German government-backed seed investor with deeptech and impact focus; co-leads with Norrsken Evolve (e.g., FION Energy). Comparable stage, ticket size and policy-aligned LP base.
• Creandum: Leading Nordic early-stage VC with strong sustainability/cleantech exposure. Comparable stage and geography, often leads where Norrsken Evolve participates.
• Carbon13: UK/Europe-based pre-seed accelerator focused specifically on climate tech; co-invests with Norrsken Evolve (TetraxAI) and shares the same impact/thematic scope.

Broad incumbents

• Atomico: Large European venture firm with growing focus on climate and deeptech. Operates across stages (seed through growth) and is a broader incumbent overlapping with Norrsken Evolve's themes at higher ticket sizes.
• Index Ventures: Pan-European venture firm with deep seed practice and impact-adjacent themes. Comparable as a top-of-mind brand for European founders, though larger and later-stage than Norrsken Evolve.

Emerging players

• Entrepreneurs First: Talent-first pre-company accelerator from which Norrsken Evolve has sourced portfolio companies (Bubble Robotics). Comparable at the very earliest 'founder formation' stage of the funnel.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/norrsken-evolve
• Xtwitter.com/norrsken

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments58 records

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

Frequently asked questions about Norrsken Evolve