Nysnø Climate Investments commits $20M to ArcTern Ventures II

Nysnø Climate Investments has committed to ArcTern Ventures II. Nysnø will invest CDN $20 million of the total fund capital of CDN $200 millionM. Other limited partners of the fund include Equinor, Business Development Bank Canada, OMERs, Suncor Energy and TD Bank.

AS part of Nysnø investments, ArcTern Ventures will open its European office in Oslo, Norway. The “new” ArcTern Ventures II will focus investments on North America and Europe.

Stavanger, Rogaland, Norway based Nysnø Climate Investments AS was established in December 2017 by the Norwegian Ministry of Trade, Industry and Fisheries. ArcTern investment is its first international investment.

photo credit: Christoffer Engström via unsplash

News Release

Stavanger 9.1.2020: Nysnø Climate Investments makes their first investment into an international venture fund with 20 MM CAD in ArcTern Ventures II – a cleantech fund with European headquarters in Norway.

ArcTern Ventures is an established fund management company investing in venture stage cleantech companies with innovations that substantially reduce greenhouse gas emissions and address sustainability issues. The new fund ArcTern Ventures II will focus investments on North America and Europe and will establish their new European head office in Oslo, Norway.

– ArcTern Ventures has demonstrated a strong understanding of how to drive value creation in the constantly evolving and rapidly growing cleantech space. They combine a strong technology focus with a hands-on approach and financial rigour, says Eivind Egeland Olsen, Investment Director at Nysnø.

– Norway has been selected by ArcTern Ventures as a strategic location in Europe. This brings world-class cleantech competence and capital to the Norwegian market that will strengthen the global expansion of Norwegian technologies solving climate change, says Siri Kalvig, CEO at Nysnø Climate Investments.

– Both Canada and Norway have high ambitions for globally scaling technologies solving climate change and sustainability, and can build on world leading competence from traditional industries into new markets. With ArcTern Ventures II we will continue to invest in the best clean technology companies, now with a global reach from our hubs in Toronto and Oslo. We view Norway as attractive base for new investment opportunities in Norway, the Nordics and Europe in general, says Murray McCaig, managing partner at ArcTern Ventures.

Nysnø will invest CAD 20 MM of the total fund capital of approximately CAD 200 MM. Other investors in ArcTern Ventures II include Equinor, Business Development Bank Canada, OMERs, Suncor Energy and TD Bank.

For more information, please contact:
Eivind Egeland Olsen, Chief Investments Officer at Nysnø, +47 906 55 215
Murray McCaig, Managing Director at ArcTern Ventures, +1 (416) 728 8240

About Nysnø Climate Investments
Nysnø Climate Investments is a state-owned venture fund based in Stavanger that invests in companies and funds with profitable and smart solutions to climate change. Nysnø Climate Investments was established in 2017 and is owned by the Norwegian Ministry of Trade, Industry & Fisheries. For more information see www.nysnoinvest.no/en

About ArcTern Ventures
ArcTern Ventures is a Toronto-based venture capital firm investing globally in breakthrough clean technology growth companies addressing climate change and sustainability. ArcTern Ventures was founded by Murray McCaig and Tom Rand around the belief that the accelerating transition to a greener economy will disrupt all industries and present a multi-trillion-dollar opportunity for both outsized financial returns and positive environmental impact. For more information see www.arcternventures.com