Norrsken Evolve

Norrsken Evolve is a €62M pre-seed fund — spun out of the Norrsken Foundation (founded by Klarna co-founder Niklas Adalberth) — that backs founders building Europe's resilient and sustainable future. The fund invests in visionaries who will "redefine how we generate energy, rebuild manufacturing, move goods, construct buildings, produce food, treat our sick, secure our information, protect democracy, and safeguard our societies from climate disruption." Thematic focus spans renewable energy, grid optimisation, energy storage, mobility & transport, built environment, industrial decarbonisation, breakthrough healthtech, cybersecurity, water security, and next-generation materials — sectors at the intersection of impact, resilience, and scalability. Norrsken Evolve writes initial equity cheques of €250,000–€500,000, typically targeting ~5% ownership when leading, and follows on pro-rata when a portfolio company raises a material round at a 50%+ valuation uplift led by a recognised investor. The fund primarily targets founders from the EU27, EU candidate countries, and the UK, and pairs capital with an intensive in-person sprint programme and access to Norrsken's global network of founders, operators, and investors. 75% of portfolio companies have gone on to raise follow-on funding from leading investors.