Sweden Receives More ESG Venture Money than Germany and UK
Sweden is becoming a new powerhouse in Europe, with venture capitalists seeking sustainable entrepreneurs investing more than ever.
According to the data, Sweden has raised a record $ 4.5 billion in funding this year for firms working to achieve at least one of the 17 Sustainable Development Goals.
Norrsken VC is planning a new round of fundraising
Norrsken VC, a battery producer, had one of the largest fundraising rounds. “The company is ready for new deals,” says Tove Larsson, the company’s CEO. Norrsken VC is one of the major venture capital firms in the Northern Region, with assets of 120 million euros ($ 135 million).
Many of the world’s most well-known companies, such as music streaming service Spotify Technology SA, Minecraft producer Mojang AB, and payment firm Klarna Bank AB, have their headquarters in Sweden.
For the past 13 years, Eric Arshambaut, the founder of the Brussels-based venture capital firm Astanor Ventures, has been investing in Swedish technology businesses. He began his career at Spotify and most recently assisted in the funding of Stockeld Dremery, a vegan cheesemaker in Stockholm.
He claims that, in addition to government measures that support entrepreneurship, Sweden benefits from a thriving tech environment in which the first wave of success’s founding billionaires is now reinvesting back into the system.