We are backing entrepreneurs building Africa’s next tech giants

Norrsken22 is a tech growth fund, backed by an international network of tech founders, partnering with exceptional entrepreneurs in scaling disruptive businesses.

We provide growth capital and deep strategic value to founders in Africa, while positioning them for international expansion and impact. We believe every investment is a partnership and value-creation goes far beyond just capital. 

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FOR ENTREPRENEURS,
BY ENTREPRENEURS

Lexi Novitske, Ngetha Waithaka, Natalie Kolbe,
Norrsken22 General Partners

Norrsken22 is managed by a team of general partners deeply ingrained in the African tech ecosystem, with decades of experience supporting African entrepreneurs, based in Kenya, Nigeria and South Africa. 

Our founding partners are Norrsken Foundation and investors who have built and backed some of the world's most successful tech companies.

The fund is backed by a unicorn board of founders who have built companies like Flutterwave, DeliveryHero, Klarna, Skype, Mojang, Izettle and King, bringing a wealth of hands-on experience to the teams we partner with. 

Our Advisory Council comprises business leaders from across the African continent, providing deep industry insight, local knowledge as well as global perspectives.

Niklas Adalberth
Founding Partner

Niklas Adalberth

Norrsken Foundation, founded in 2016, is a non-profit dedicated to helping entrepreneurs solve the world’s greatest challenges. It runs Norrsken House in Stockholm, Sweden, Europe’s largest hub for impact tech, and Norrsken House in Kigali, Rwanda, East Africa’s biggest hub for entrepreneurship. It has previously incubated Norrsken VC, a US$ 130 million European impact VC fund.

Norrsken Foundation was created by Niklas Adalberth, co-founder of decacorn Klarna in 2005, today Europe’s largest online payment service company.

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Hans Otterling
Founding Partner

Hans Otterling

Hans Otterling has been a partner of Northzone since 2006, one of Europe’s top-ranked venture capital funds with $1.5B under management and a portfolio of more than 60 tech companies. Northzone's track record includes 2 Decacorns, Spotify and Klarna, and 14 Unicorns. Before moving into venture capital, Hans was a successful serial entrepreneur, founding, scaling, and exiting three market-leading media and tech businesses.

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Natalie Kolbe
General Partner

Natalie Kolbe

Natalie is the Managing Partner of Norrsken22, responsible for the overall management of the Fund, based in Johannesburg, South Africa. Natalie brings a wealth of private equity and growth investing experience to Norrsken22, having spent 18 years at Actis – one of the leading private equity firms focused on the Emerging Markets. At Actis, Natalie was Global Head of Private Equity, responsible for the day-to-day management of the global PE business, spanning 8 funds across Africa, Latin America, India, China and SE Asia, with circa USD $2.5 billion in assets under management. Natalie was also part of the team that assessed and onboarded the Abraaj Africa, Middle East and South East Asia PE funds and team ($2.5bn portfolio). She is an experienced board member having held board seats on multiple companies across Africa and Europe and has been instrumental in numerous restructurings and successful exits. Natalie instilled and operated under world-class governance and ESG standards at Actis and brings this depth of knowledge with her to Norrsken22.

Natalie holds a BComm from the University of Witwatersrand, an MBA (Cum Laude) from Wits Business School and is a CFA Charterholder.

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Ngetha Waithaka
General Partner

Ngetha Waithaka

Ngetha is General Partner of Norrsken22 based in Nairobi, Kenya. Ngetha joined Actis in 2011 and has 10+ years of investing experience on the African continent with investments primarily in the financial services and consumer sectors spanning Kenya, South Africa, Nigeria and Egypt. Notably, he played a pivotal role in Actis's investment in Fawry, the leading payments enablement company in Egypt, where Actis anchored a $100m secondary sale and subsequent IPO. He was also an integral deal team member in Actis's investment in Credit Services Holdings (CSH) to establish the leading independent credit services business in Africa. Ngetha brings significant experience developing and implementing value creation and operational improvement strategies within his portfolio companies. Prior to Actis, Ngetha worked with PCG Capital Partners, a growth stage private equity firm in California, USA investing non-control equity in mid-market companies. He started his career within the Investment Banking division of Credit Suisse in New York.

Ngetha holds a BA from Middlebury College and an MBA from the Wharton School, University of Pennsylvania.

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Lexi Novitske
General Partner

Lexi Novitske

Lexi is General Partner of Norrsken22 based in Lagos, Nigeria. Lexi has more than 10 years of investment banking, emerging market private equity and venture capital experience. In 2012, Lexi moved to Nigeria, originally supporting growth-stage businesses in Nigeria at Verod Capital. In 2014, Lexi launched Singularity Investments, a private capital-backed venture investment firm, and invested in market champions across fintech and enterprise platforms including Paystack, Flutterwave, mPharma, SmileID and Migo. In 2019, Lexi acquired the firm’s portfolio and launched Acuity Venture Partners. Acuity’s two funds have invested in over 20 African tech companies, with the first fund returning 10.9 times invested capital. Prior to joining Verod, Lexi was focused on investments in Africa at the Small Enterprise Assistance Fund in Washington DC and covered financial services at New York-based hedge fund Sandler O’Neill Asset Management. Lexi is a faculty member and mentor to several accelerators and start-up academies.

Lexi holds a BBA from the University of Hawaii, is a CFA Charterholder and Kauffman Fellow.

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Bernard Ghartey
Investment Manager

Bernard Ghartey

Bernard is an Investment Manager at Norrsken22, based in Accra, Ghana. He has extensive experience in investing across sub-Saharan Africa. Most recently, Bernard was Head of Investments at Acuity, focusing on early-stage technology businesses in West Africa. He brings deep experience in investment banking, having executed mandates in excess of $150m for blue chip companies across the continent and has held key roles in the telecoms industry in Ghana. Bernard has spent part of his career in Kenya where he held advisory roles helping East African companies scale and access growth funding.

Bernard holds a BSc from the Ashesi University in Accra, Ghana.

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Maina Murage
Investment Manager

Maina Murage

Maina is an Investment Manager at Norrsken22, based in Nairobi, Kenya. He has previously been focused on the East African market in his previous role at DOB Equity. In his previous role, he focused on Seed to Series-A tech businesses across all sectors. He worked on the investments in Kwara, Cinch markets and Kwanza Tukule as well as leading DOB's EdTech investing efforts. He brings with him relationships with incubators, accelerators and early stage start-up networks in the region.


Maina holds a BCom from Strathmore University with a double major in Finance and Management Science

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Nivesh Pather
Investment Manager

Nivesh Pather

Nivesh is an Investment Manager at Norrsken22, based in Johannesburg, South Africa. He has extensive early stage experience in investing across Africa across pre-seed, seed and Series A rounds. Most recently, Nivesh was Principal at Newtown Partners, focusing on early-stage technology businesses within healthcare, insurance, logistics and supply chain across the globe. He has 9 years of financial services experience across  venture capital, cross border M&A, financial valuation, financial services advisory and audit.

Nivesh holds a BAccSci from the University of Witwatersrand in Johannesburg, South Africa, and is a Chartered Accountant and CFA Charterholder.

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Stine Foss
Finance & Operations

Stine Foss

Stine Foss is CFO of Norrsken22 and her responsibilities include finance, fund compliance and administration. Stine will be the primary interface between the Investment Team and the Fund administrator. Stine was CFO of Northzone between 2001 and 2019. During her tenure the franchise expanded to become one of Europe’s largest venture capital funds with €1.5 billion undermanagement and returns in the top quartile (globally). Today the franchise has a portfolio of more than 50 tech companies. Stine was instrumental in building critical processes such as fund raising, external reporting and governance, expanding the franchise.. In addition, Stine has been actively involved in establishing the partnership’s Stockholm, UK and US offices.

 

Stine holds an MBA in Finance from the Norwegian School of Economics and Business Administration (NHH) in Bergen, Norway.

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Olamide Banjo
Finance & Operations

Olamide Banjo

Olamide is Norrsken22’s Finance & Admin Assistant based in Lagos, Nigeria. She joins from Acuity Ventures, where she worked with Lexi and Bernard as Executive Assistant and Finance Manager. At Norrsken22, Olamide is responsible for assisting the team with Administration, Operational and Finance functionality to ensure the smooth running of the team.

Olamide holds a BSc in Accounting from the University of Lagos, Nigeria.

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Amanda Plowes
Finance & Operations

Amanda Plowes

Amanda is Norrsken22’s Executive and Admin Assistant, based in Johannesburg, South Africa.

Amanda brings a wealth of experience to Norrsken22, having spent over 16 years at Actis – one of the leading private equity firms focused on the Emerging Markets. At Actis, Amanda was the Executive Assistant to Natalie Kolbe who was the Global Head of Private Equity and Ngetha Waithaka who was a Director.   Amanda was also responsible for supporting the HR team across all key regions with particular focus on liaising between the team in London and the team in Africa and Mauritius.  In her role she handled several administrative tasks and day-to-day incoming requests. In addition, Amanda was responsible for key events for the Private Equity team and she also co-ordinated the Actis Investment Essentials onboarding programme and the IC Secondment program. At Norrsken22 Amanda is responsible for general administration, human resources, executive assistance and assisting the ESG, Impact and Compliance manager in their role.

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Niklas Zennström

Co-Founder

Sebastian Knutsson

Founder

Olugbenga (GB) Agboola

Co-Founder

Dan Olofsson

Founder

BjÖrn Zethraeus

Co-Founder

KRISTIAN MÄNNIK

Co-Founder

Johan Tjärnberg

Founder

Carl Manneh

Founder

Christo Wiese

Former Chairman

Måns Hultman

Ex-CEO

Willard Ahdritz

Founder

Henrik Ekelund

Founder

Robert Gerstmann

Co-Founder

Stefan Krook

Founder

Fredrik Jung-Abbou

Founder

Rustan Panday

Chair of the Board

Martin Gren

Founder

Martin Wattin

CEO

Thomas Hartwig

Founder

Henrik Sandell

Co-Founder

niklas ÖSTBERG

Founder/CEO

Johan Andersson

CEO

Hans Bergh

Ex-CEO

Gustaf Brandberg

CEO

Jacob de Geer

Founder

John ElvesjÖ

Co-Founder

Magnus Brandberg

Founding Partner

Johan Hedberg

Founder

Erik Brandberg

Founding Partner

Patrick Stymne

Co-Founder

Peter Bauer

Co-Founder/CEO

Peter Mühlmann

Founder

Chinedu Echeruo

Founder
Nonkululeko Nyembezi
Advisory Board

Nonkululeko Nyembezi

Nonkululeko Nyembezi is a South African business executive who has been active in steel, coal, telecommunications and finance. She is the former chief strategist for the Vodacom Group and the former non-executive Chairman of Alexander Forbes, and is now the CEO of the Johannesburg Stock Exchange.

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Phutuma Nhleko
Advisory Board

Phutuma Nhleko

Phuthuma Nhleko is a South African business executive, formerly chief executive and executive chairman of MTN Group, a South African multinational mobile telecommunications company primarily focused on Africa. Phuthuma has also been appointed as the new Chair of the Johannesburg Stock Exchange (JSE).

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Shingai Mutasa
Advisory Board

Shingai Mutasa

Shingai Mutasa is the Zimbabwean founder and chairman of the Masawara Group, which invests in and operates financial services, insurance, hospitality and industrial/chemical companies in the COMESA region.

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Arnold Ekpe
Advisory Board

Arnold Ekpe

Arnold Ekpe is a Nigerian banker and businessman who was the group chief executive of Ecobank, the pan-African bank with operations from Togo to Nigeria to the DRC from 2005 to 2012. He is senior adviser to Dangote Group and Equator Capital Partners (US), chairman of Micro Cred France, non-executive director of Crown Agents Bank (UK), AVMS India, and Dangote Flour Mills Ltd.

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Nonkululeko Nyembezi
Advisory Board
CEO, Johannesburg Stock Exchange
Phutuma Nhleko
Advisory Board
Chair, Johannesburg Stock Exchange
Shingai Mutasa
Advisory Board
Founder and chairman, Masawara Group
Arnold Ekpe
Advisory Board
Chairman, Micro Cred France, ex-CEO Ecobank

WHAT WE ARE LOOKING FOR

We invest across Africa, but focus on the main tech hubs in Nigeria, Kenya, South Africa and Ghana.

Our teams are fully ingrained in these markets and our local presence is crucial in understanding opportunities and identifying the best solutions.

We back relevant, disruptive, scalable and tech-enabled business models, focused on these four sectors:

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Fintech

Market Enablement

Medtech

Edtech

Fintech

Market Enablement

Medtech

Edtech

Businesses unlocking economic opportunities and financial access for consumers and SMEs via sustainable & affordable financial products
Solutions that eliminate disjointed markets through new distribution methods, marketplaces and efficient cross-border tools.
Businesses that reduce inefficiencies and provide access to critical, affordable and quality healthcare
Businesses reducing inequalities in the access to quality education, promoting increased employment prospects and ultimately contributing to poverty alleviation

scalable businesses drive long-term sustainable economic growth

Norrsken House in Kigali, Rwanda

Norrsken22 works closely with our founding partner the Norrsken Foundation. 

The Norrsken ecosystem is a global non-profit dedicated to helping entrepreneurs solve the world’s greatest challenges
Norrsken22 is an independent and for-profit growth fund, but shares the same values as the Norrsken Foundation.

In 2021, Norrsken opened Norrsken House in Kigali, Rwanda, the largest hub for entrepreneurs in East Africa.

Norrsken Foundation will re-invest its 22% carry from the fund back into the African startup ecosystem, to further promote entrepreneurship and support a new generation of founders.

Norrsken.org

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Geographies

Intentionality

Sectors

Customers

Geographies

Intentionality

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Customers

Investing in Africa is inherently transformational through employment generation, market-enabling solutions and the provision of accessible services. Norrsken22 is focused on investing in Africa exclusively, with a specific focus on sub-Saharan Africa. 
Identifying impact targets upfront and building processes to assess social/environmental impact, Norrsken22 will establish impact KPIs at IC with targets set for each investment period. 
Norrsken is deliberately focused on healthcare, education, financial services and market enablement. These are sectors at the confluence of economic growth, investable opportunity and positive impact on wider society. 
Focusing on impact for underserved markets, particularly at the “bottom of the pyramid”. Norrsken22 will focus on partnering with companies who are improving access to services or products, or creating employment for low- and middle income earners.

Latest news

Norrsken22 Backed Autochek Acquires CoinAfrique

July 6, 2022

Norrsken22 Poised for Second Africa Startup Foray

April 20, 2022

Sabi: Why We Invested

April 11, 2022

NORRSKEN, VCS AND 30 UNICORN FOUNDERS SET UP $200M AFRICA FUND

January 31, 2022

Swedish Unicorns Rally Behind New Africa Impact Fund

January 31, 2022

TECH FOUNDERS LAUNCH FUND AIMED AT FINDING AFRICA’S NEXT ‘UNICORNS’

January 31, 2022

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