Norrsken Foundation

Overview

Norrsken Foundation is a non-profit, non-religious, and non-partisan organization focused on supporting entrepreneurial ventures that aim to solve some of the world's most pressing challenges, such as poverty, climate change, mental health, and pollution. Founded in June 2016 by Niklas Adalberth, co-founder of Klarna, the foundation is based in Stockholm, Sweden, with additional hubs in Kigali, Rwanda, and Barcelona, Spain. Since its inception, the foundation has raised several funds and operates notable co-working spaces known as Norrsken House. It has also established Norrsken VC, an independent investment firm.

Recent Developments

  • June 2025: Norrsken Foundation announced a commitment of €300 million (approximately $348 million) to invest in European startups utilizing "AI for good" to tackle societal challenges in areas like climate, health, and education. This initiative aims to align with the UN Sustainable Development Goals (SDGs) by focusing on impactful technological innovations (Source).
  • November 2024: The Impact/Week 2024 took place, during which the Norrsken Foundation celebrated the achievements of impact startups through forums and panel discussions at their Barcelona hub. The event spotlighted leading entrepreneurs in climate technology and sustainable development (Source).
  • May 2024: Norrsken VC closed its second fund, amounting to €320 million, marking it as Europe's largest early-stage generalist impact fund. This fund aims to support entrepreneurs tackling global challenges (Source).
  • October 2023: The Norrsken House Barcelona opened its doors, becoming Europe's largest hub for tech and impact, enhancing the foundation's capacity to support startups in the region (Source).
  • 2023: Norrsken Foundation launched the Impact/100 list, highlighting top companies with significant contributions towards the SDGs, further promoting enterprises that deliver measurable social and environmental impact (Source).

Company Information

AttributeInformation
Founding DateJune 2016
HeadquartersStockholm, Sweden
FoundersNiklas Adalberth
Revenue~$60 million (2024 approximate)
Key InvestorsEuropean Investment Fund (EIF), Folksam, AP1
IndustrySocial Entrepreneurship, Impact Investing
Number of Employees~169

Early History

Norrsken Foundation was established in 2016 by Niklas Adalberth with an initial personal donation of $20 million. The foundation quickly set its sights on fostering entrepreneurship aimed at creating meaningful societal impact. In 2017, Norrsken House was opened in a former tram depot in Stockholm, creating a co-working space designed to be the largest hub for impact entrepreneurs in Europe. This facility became central to Norrsken's operations, allowing it to host a variety of initiatives and programs aimed at catalyzing social entrepreneurship. Over the years, the foundation expanded its reach by establishing additional hubs in Kigali and Barcelona, furthering its mission to incubate and accelerate projects worldwide.

Company Profile and Achievements

Norrsken Foundation's business model is centered around providing support to entrepreneurs and startups that contribute to solving global challenges. Its major achievements include:

  • Establishing the Norrsken House co-working spaces in strategic locations, which provide startups with the resources and community needed to thrive.
  • Launching Norrsken VC, which invests in early-stage companies with a focus on achieving both social impact and profitability. The VC closed its second fund in 2024, raising €320 million.
  • Developing an accelerator program that mentors early-stage founders, helping them scale their ideas through a blend of capital, guidance, and strategic partnerships.
  • Hosting the annual Impact/Week, a significant gathering that attracts global entrepreneurs, investors, and change-makers to exchange ideas and foster collaborations for positive impact.
  • Curating the Impact/100, an annual list celebrating impactful startups, further establishing Norrsken as a pivotal force in impact investing.

Current Operations and Market Position

As of June 2025, Norrsken Foundation operates with a robust global presence, managing operations across Europe and Africa. It continues to back startups that align with its mission through various initiatives, including the Norrsken VC, which focuses on clean technology, software, and manufacturing. Norrsken's strategic hubs in Stockholm, Kigali, and Barcelona serve as innovation centers, providing startups with essential resources and partnerships. Furthermore, by aligning its investments with the UN's SDGs, Norrsken maintains a competitive edge in the increasingly environmentally and socially conscious global market.

Conclusion

Norrsken Foundation stands as a linchpin in the social entrepreneurship sector, effectively merging impact-oriented goals with economic success. Its commitment to harnessing technological solutions for addressing global issues positions it uniquely within the philanthropic and investment landscape. Looking forward, Norrsken is poised to continue influencing the growth of impact-driven startups with its innovative approaches and substantial investments, especially in emerging technologies like AI, which offer promising avenues for solving complex societal challenges.