Norfund
Government fundOslo · Growth–Late Stage
Find your way into Norfund
Investment thesis
Norfund operates under a development mandate aimed at job creation and improving livelihoods, focusing on around 30 core investment countries primarily in Sub-Saharan Africa, plus selected countries in Asia and Latin America. Under a separate climate mandate, it backs the transition to net zero by investing in 13 core countries across North and Southern Africa and South and Southeast Asia. Norfund also holds a dedicated mandate to help build sustainable businesses in Ukraine. As a development finance institution, its investments are oriented toward impact, sustainability, and economic development in emerging markets.
Source: firm website, verified Aug 3, 2026.
What they invest in
from 11 of 11 portfolio companiesEnergy ×5Cleantech ×4AgTech ×2Climate Tech ×2E-commerce ×2Fintech ×2FoodTech ×2Impact & Social Good ×2
HQs:Nigeria×2South Africa×2Switzerland×1Côte d’Ivoire×1Indonesia×1Kenya×1
Investments · 11 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12024 · 22019 · 15 dated
Arnergy provides modular, scalable solar energy systems and real-time energy management solutions for homes and businesses across Africa.
CleantechEnergyIoTLagos, NG
Co-investorsBreakthrough Energy VenturesAll OnBritish International Investment
Starsight Energy is a clean energy company operating across Africa, backed by Helios Investment Partners and African Infrastructure Investment Managers.
CleantechClimate TechEnergy
Paul Van Zijl(Group Chief Executive Officer)in
Co-investorsHelios Investment PartnersHelios Digital VenturesBritish International Investment
Valency International delivers sustainable agricultural products designed to minimize environmental impact and support responsible farming practices.
Advanced ManufacturingAgTechFoodTech
PK Jain(Chairman)Sumit Jain(CEO)in
LB Al-Salamah offers Wakala, a Shari'ah-compliant investment model where investors appoint the company as an agent to manage funds according to Islamic finance principles.
Fintech
Co-investorsSwedfund International ABBlueOrchard Finance S AFMO
OmniHub is a distribution management platform for product distributors in Africa that connects them with retailers through a unified ordering and visibility system.
AI & Machine LearningB2B MarketplacesE-commerceEnterprise SoftwareFintechLogistics & Supply ChainRetail TechSaaSJohannesburg, ZA
Deepankar Rustagi(Founder)in
Co-investorsGoodwell InvestmentsShell FoundationVentures PlatformAlitheia CapitalAruwa Capital
Panorama Nyheter is a Norwegian news outlet covering international development, humanitarian aid, global politics, and foreign affairs.
Media & Entertainment
Victory Farms Kenya sells tilapia fillets sourced from Lake Victoria through partnerships with local fishermen, with zero-plastic packaging and online ordering via M-Pesa payment.
AgTechE-commerceFoodTechImpact & Social GoodKaksingri, KE
Co-investorsAgDevCoCeniarthTimon CapitalVestedWorldAcumenCreadev+2 more
Xurya develops renewable energy solutions, generating green electricity while creating environmental benefits and green jobs in communities.
CleantechEnergyJakarta, ID
N. Edwin Widjonarko(Founder)in
Co-investorsAC VenturesAgaeti VenturesClime CapitalEast VenturesMitsui & CoSchneider Electric
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Portfolio news
latest coverage across their companies
Candi · homenewspa.com · Aug 12, 2026
Starsight · starsight.biz · Jul 28, 2026
Victory Farms · trysignalbase.com · Jul 28, 2026
Valency International · andgreen.fund · Mar 19, 2026
Omniretail · techcrunch.com · Apr 28, 2025
Frequently asked questions
- How many investments has Norfund made?
- Norfund has 11 tracked investments, including 2 dated in the last 24 months.
- What stage does Norfund invest at?
- Norfund invests at the Growth, Late Stage stages.
- What is Norfund's typical check size?
- Norfund typically writes checks of $5M – $50M.
- What sectors does Norfund focus on?
- Norfund focuses on AgTech, B2B Marketplaces, Cleantech, Climate Tech, Energy, Fintech, Impact & Social Good, Sector Agnostic.
- Where is Norfund located?
- Norfund is headquartered in Oslo, NO.
- Does Norfund lead rounds?
- Norfund typically participates in rounds rather than leading them.
Media · Podcasts & interviews
from their channelYour call: responsible ownership part 1
NorfundVideo
Erik Sandersen and State Secretary Håheim Norfund Conference 2026
NorfundVideo
Tellef Thorleifsson's opening
NorfundVideo
Hard lessons on empowerment
NorfundVideo
Your call: responsible ownership part 2
NorfundVideo
Who wants to pay taxes?
NorfundVideo
Images
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