Norrsken Evolve

Norrsken Evolve is a Stockholm-based pre-seed venture capital fund launched in August 2025 by the Norrsken Foundation, with a €57 million fund backed by Saminvest, the European Investment Fund, and SmartCap Green Fund. The fund invests €250,000 in equity per company, typically targeting 5% ownership, and can lead or co-invest on existing rounds. Norrsken Evolve backs 20–30 European founders per year building in sustainability and resilience sectors including renewable energy, healthtech, biotech, cybersecurity, food and agriculture, industrial decarbonization, and next-generation materials. Geographic focus is EU27, EU candidate countries, and the UK, with limited exceptions. Every portfolio company participates in a mandatory in-person sprint program with mentorship from operators and investors, culminating in a demo day at Norrsken Impact/Week in Barcelona. The fund commits to follow-on investments when portfolio companies raise a subsequent round at 50%+ valuation step-up led by a recognized investor. Applications are accepted on a rolling basis via their website.