Tove Larsson (Norrsken): 10 Key Things You Must Know

Overview

Tove Larsson is a prominent General Partner at Norrsken VC, one of Europe’s leading impact-focused venture capital firms based in Stockholm, Sweden. With a rich background in strategy, consulting, and impact investing, she plays a crucial role in shaping funding for startups that tackle global challenges, especially in climate tech and sustainability. Larsson is known for her sharp investment acumen, combining technical insight and commercial savvy to back companies solving significant world problems. This article uncovers key aspects of her career, investment philosophy, and the pivotal role she plays at Norrsken VC, highlighting her impact in the evolving landscape of impact investing.

1. Early Career and Professional Background

Before joining Norrsken VC, Tove Larsson gained extensive experience across multiple sectors. She worked at Bain & Company, advising leading private equity firms in the Nordics. She also held roles at the World Childhood Foundation and Inkludera, showcasing early involvement in social impact fields. Additionally, she spent eight years in strategic and market expansion roles at Spotify, which helped shape her commercial and operational expertise. Her diverse background across management consulting, operations, and impact gives her a well-rounded perspective essential for venture capital.

2. Role at Norrsken VC

As a founding General Partner at Norrsken VC, Larsson helps lead one of Europe’s largest early-stage impact investment funds. Norrsken VC was born out of the Norrsken Foundation, established by Klarna co-founder Niklas Adalberth to back entrepreneurs who combine profit with social and environmental impact. Larsson’s role includes sourcing and evaluating startups, shaping investment strategy, and supporting founders on their growth and capital journey, especially within climate tech, AI, and sustainable innovation sectors.

3. Investment Philosophy: Impact at the Core

Larsson’s investment approach centers on startups that embed impact into their business models, not just as a side effect but as the core value proposition. She emphasizes backing companies addressing massive global problems with scalable solutions that can deliver both significant financial returns and measurable social or environmental benefits. Her mindset reflects a shift in impact investing from subsidy-reliant models to commercially viable, competitive businesses in the marketplace.

4. Championing Climate Tech and Sustainability

One of Larsson’s key focus areas is climate technology. Under her leadership, Norrsken VC invests heavily in startups innovating in renewable energy, sustainable materials, clean transport, and more. She advocates for climate tech companies that demonstrate realistic commercial viability without depending on green premiums or subsidies, promoting business models that can thrive in competitive markets while reducing carbon footprints and fostering sustainability.

5. Supporting AI with Positive Environmental Impact

In 2025, Norrsken VC pledged to invest €300 million in AI startups with a focus on climate solutions. Larsson highlighted the potential for AI to address some of the world’s most pressing environmental challenges. She also acknowledged concerns around AI’s energy consumption and stressed the importance of funding startups that develop solutions to reduce the environmental impact of data centers, such as in cooling and energy efficiency technologies.

6. Norrsken VC’s Scale and Impact

Norrsken VC has grown rapidly and now manages one of Europe’s largest early-stage impact funds, with over €320 million raised for its second fund alone, surpassing initial goals. The fund backs a diverse portfolio of startups, including well-known companies like Northvolt, Einride, and 1KOMMA5°. Larsson contributes to ensuring these investments align with strict sustainability and impact criteria, consistent with European regulations such as the EU Sustainable Financial Disclosures.

7. Focus on Founder Teams and Commercial Expertise

Larsson stresses the importance of balanced founding teams that combine technical brilliance with commercial execution skills. She believes that even the best ideas require strong business leadership and market understanding to raise serious capital and scale effectively. Larsson often advises startups to prepare for the capital journey by understanding the milestones needed to unlock subsequent financing rounds and managing risks along the way.

8. Advocacy for Female Leadership and Diversity in Investing

Larsson is recognized for supporting gender balance and inclusion in tech entrepreneurship and venture capital. She participates in initiatives and discussions aimed at increasing visibility and financing for female entrepreneurs. Her viewpoint stresses that while obtaining capital can be equally or more difficult for women, success is rooted in merit and building credible teams. She encourages increased active searching by investors and visibility by entrepreneurs to improve gender equity in funding.

9. Collaboration and Ecosystem Building

Beyond investment, Larsson emphasizes collaboration as key to advancing climate impact. She supports initiatives that bring diverse stakeholders together, such as entrepreneurs, investors, policymakers, and industry experts. Norrsken VC operates within a larger impact ecosystem that includes physical hubs like Norrsken House in Stockholm, Kigali, and Barcelona, fostering knowledge-sharing and partnerships critical for scaling innovative solutions.

10. Future Outlook and Vision

Looking forward, Larsson and Norrsken VC aim to continue leading impact investing in Europe by backing companies that prove sustainable impact and business viability go hand in hand. With evolving regulatory landscapes and growing market demands for ESG alignment, she foresees increasing opportunities for startups to address climate change, resource optimization, and social challenges. Larsson’s vision involves nurturing companies that become “impact unicorns” — delivering billion-euro valuations alongside transformative global benefits.

Conclusion

Tove Larsson stands out as a pivotal figure in impact venture capital, blending strategy, commercial insight, and a deep commitment to sustainability. Her leadership at Norrsken VC highlights a new era in investing where addressing global challenges is inseparable from achieving business success. Through backing innovative startups and fostering diverse, capable teams, Larsson is helping to reshape how capital flows to solve some of the world’s most urgent problems. As climate tech and impact investing evolve, her work prompts the question: how can the next generation of entrepreneurs best combine profit with purpose to drive meaningful change?