Norrsken Foundation, a Sweden-based non-profit organisation envisaging mitigating mental health issues, environmental problems, poverty, and famine, has launched Norrsken22 on 31 January 2022 as a US$ 200 million fund to bolster Africa’s tech firms of tomorrow.

Backers of Norrsken22

The fund has received support from 30 unicorn founders who have offered unparalleled entrepreneurial skills and US$ 65 million. Some backers include Olugbenga Agboola, Niklas Zennström, Jacob de Geer, Niklas Östberg, Carl Manneh, Sebastian Knutsson and Willard Ahdritz. SEB Pension Foundation and an advisory council of Nonkululeko Nyembezi, Arnold Ekpe, Phuthuma Nhleko, and Shingai Mutasa, whose vision runs parallel with Norrsken22, also participated. 

About Norrsken

Norrsken Foundation Logo

Brought to existence in 2016 by Niklas Adalberth, Norrsken operates as an impact ecosystem where its clients can obtain all the resources required to commercialise the practice of saving the world. The firm has partnered with Hans Otterling, Lexi Novitske, Natalie Kolbe and Ngetha Waithaka to launch Norrsken22. The firm runs Norrsken House in Rwanda and Sweden. It managed the Norrsken Impact Accelerator for early-stage impact startups and incubated Norrsken VC, a 130 million euros venture capital fund.

About Norrsken22

Norrsken22 Logo

Norrsken22 functions as a tech growth equity fund, teaming with leading entrepreneurs to scale the disruptive sectors across the African continent. It envisages establishing long-term and sustainable economic growth through scalable entrepreneurship. The fund is committed to offering exponential returns and aims to create a positive and meaningful impact on Africa’s economy.

What the Founder has to say: “With a populace of over 1.2 billion, 60% of the people in Africa age less than 25 years old. By the coming decade, the new, digital-first generation will revolutionise both the future of Africa and the rest of the world.”- Niklas Adalberth, Founder of Norrsken Foundation. “The world is increasingly looking towards Africa as the future epicentre of the digital revolution. Technology allows today’s firms to supersede conventional ways of running a business. Although talented entrepreneurs are showing up, deficiency of capital has emerged as a great hindrance to their growth.”- Hans Otterling, Founding Partner of Norrsken22.

What the Investor has to say: “Technology is playing a key role in revolutionising economies across Africa on a large scale. Supporting a completely new age of African founders is a huge investment opportunity for us.”- Niklas Zennström, Co-Founder of Skype and Member of Norrsken22 unicorn board.

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Sankalp majorly focuses on writing newsletters on VCBay. He is pursuing Bachelors in Economics from the University of Delhi and exhibits proficiency in content writing and research.

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