Norrsken22, a Pan-African venture capital firm, has successfully closed its inaugural African technology growth fund at $205 million, surpassing its initial $200 million target.

The firm, founded in 2022 by Niklas Adalberth, the founder of the Norrsken Foundation and payments unicorn Klarna, along with Hans Otterling, a partner at the technology investment firm Northzone, boasts a highly experienced team of partners with extensive track records in African investments and tech.

Led by Natalie Kolbe, who formerly held the position of Global Head of Private Equity at Actis, along with Ngetha Waithaka in Kenya and Lexi Novitske, the founder of Acuity Venture Partners in Nigeria, Norrsken22 maintains a pan-African presence with on-the-ground teams in Nigeria, South Africa, Kenya, and Ghana.

The firm’s primary focus lies in supporting entrepreneurs in the development of fintech, edtech, MedTech, and market-enabling solutions that promise robust returns while simultaneously generating positive impacts across the African continent.

The fund received backing from SEB Pension Foundation and family offices, and since its initial close, it has attracted prominent institutional investors such as British International Investment (BII), International Finance Corporation (IFC), US International Development Finance Corporation (DFC), Standard Bank, and Norfund.

Mr Adalberth, one of the fund’s founders, emphasized Africa’s youthful population and its digitally-oriented generation as the key to the region’s future and global relevance. He expressed enthusiasm for the fund’s final close and the strong support it has garnered, highlighting the substantial opportunities in Africa. The fund remains dedicated to its mission of channeling investment into African tech, contributing to job creation and sustainable growth in the region.