Fund profile / Sweden

Norrsken Evolve Fund

Geography: Sweden
Stage: Pre-Seed
Fund size: €62M
Focus: Biotech, Climate & Sustainability, Deep Tech and Energy Tech
Signals: Published

N°01 / About

About Norrsken Evolve Fund

Pre-seed arm of Niklas Adalberth's Norrsken ecosystem (formerly Norrsken Accelerator); closed its fund at €62M, over 50% above the €40M target, and opened a permanent Amsterdam base with ~€3M ring-fenced for Dutch founders. Backs climate, resilience and deep-tech at pre-seed. LPs incl. EIF, Saminvest, SmartCap, Taavet Hinrikus and Sten Tamkivi. GP Alex Bakir.

N°02 / Thesis

Investment Focus

Location / RegionSweden

Funding StagePre-Seed

Industry Focus

Biotech

Climate & Sustainability

Deep Tech

Energy Tech

Infrastructure Tech

Investor Signals Profile

active

Sweet Spot

Energy infrastructure founders with AI expertise, Europe-focused

pre-seed

climate

deep tech

impact

energy infra

electrification

aviation

wind tech

autonomous vehicles

logistics

Bullish Signals

Active thought leadership on European energylinkedin

Norrsken VC pushing Electro Union narrativelinkedin

42K+ LinkedIn followers — high visibility fundlinkedin

Frykman featured on etn. media outletlinkedin

Fresh etn. media feature — 2 days agolinkedin

Frykman quoted: Europe fuel sovereignty crisislinkedin

terralayr actively hiring CoS — growth signallinkedin

Portfolio talent: 2 successful CoS exits/promotionslinkedin

Germany focus — pivotal energy market Europelinkedin

AI-native infrastructure play — next-gen energylinkedin

Heart Aerospace X1 flight validates electrificationlinkedin

Electric aviation 40% cost reduction potentiallinkedin

Vind AI portfolio co-founder named Recharge 40U40norrsken_repost

Wind AI plays gaining traction in portfolionorrsken_repost

Einride SAE Level 4 autonomous truck Germany opsnorrsken_repost

KBA permit validates autonomous logistics regulatory pathnorrsken_repost

Lidl real-world autonomous delivery scale-up signalnorrsken_repost

Contrarian Signals

Europe energy dependency = macro risk exposurelinkedin

Founder Do's

Energy infrastructure + AI-native mindset

Former mgmt/banking/founder/PE experience valued

Ultra-structured + execution bias required

High agency, competitive, team player

Hardware-software integration at scale wins

Choose bold path over conventional safety

Real-world regulatory wins = credibility signal

Founder Don'ts

No energy background = slower onboard

Low action bias, analysis paralysis

Solo players, poor team chemistry

31 signals on Norrsken Evolve Fund

17 bullish · 1 contrarian · 7 pitch do's · 3 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size€62M

Saves0

Website

People

Key People

Alex Bakir

David FrykmanPartner

Philipp ManPortfolio Company Lead (terralayr)

Helene Margrethe BøhlerCo-founder & CEO (Vind AI)

Backers

Known LPs

SaminvestFund-of-Funds

European Investment Fund (EIF)Fund-of-Funds

SmartCapFund-of-Funds

+2 more LPs in LP Radar

N°04 / See also

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