Norrsken22

Norrsken22 is a $205 million growth-stage tech fund that closed its debut vehicle in November 2023, surpassing its original $200M target. The fund was co-founded by Niklas Adalberth (co-founder of Klarna) and Hans Otterling (partner at Northzone, behind Spotify and Klarna), and it sits within the broader Norrsken Foundation ecosystem. The "22" in the name refers to the foundation's commitment to reinvest its 22% carry back into the African startup ecosystem, which means every deal the fund closes also fuels the next generation of founders.

What makes Norrsken22 genuinely different is its LP base. Over 30 unicorn founders, including the people behind Flutterwave, Klarna, Skype, Delivery Hero, Mojang, iZettle, and King, have backed the fund and serve as a hands-on "Unicorn Board." That gives portfolio companies direct access to founders who have scaled globally, not just capital. The fund also counts the IFC, British International Investment, U.S. DFC, Standard Bank, and Norfund among its institutional backers, which adds credibility and opens doors for follow-on rounds.

Norrsken22 targets approximately 20 investments from its debut fund, focusing on companies with proven business models, real customers, repeatable revenue, and attractive unit economics. The team looks for technology that is lean, capital-light, and scalable, and they have a strong preference for businesses serving underserved markets and the bottom of the pyramid.