As per ESG Today, the funds raised ended up significantly surpassing the company's initial 250 million euros target and is the largest early-stage generalist impact fund in Europe.

Stockholm-based Norrsken VC was created out of non-profit impact ecosystem Norrsken and it so far invested in over 50 startups in industries such as clean energy, clean tech and health tech. Northvolt and Einride are among the unicorns of the first fund offered by Norrsken.

Niklas Adalberth, General Partner of the fund and Founder of Norrsken Foundation said that "our long-term vision is to see every dollar invested globally as a net positive for people and planet. With Norrsken VC II we aim to find, back and empower force of nature founders, and set them on a path to build impact unicorns – companies that positively impact 1 billion lives."

The new 320 million euros fund is backed by almost 50 investors, among which are AP1, Folksam and Saminvest.