Nordic Alpha Partners closes second fund at €266m

Private Equity Wire

Nordics and Germany-based growth equity fund Nordic Alpha Partners has closed Fund II with €266m in commitments from Dutch bank ABN Amro, asset manager Unigestion, Danish holding company Novo Holdings and members of the Danish shipping family Maersk.

Other investors include Allianz GI, European Investment Fund, German state fund KfW Capital and Copenhagen Infrastructure Partners.

Fund II is classed as an Article 9 fund under the EU Sustainable Finance Disclosure Regulation and has already made three investments – Sunroof and Air Water Green in Sweden and STABL Energy in Germany.

In a statement, Troels Øberg, a senior partner at NAP who is responsible for the firm’s fundraising activities, said: “It is clear that the way we are organised, our value creation toolkit, and our operational investment approach stand out as a new model that can release value in the complex growth phase. 

“The trust and ability to attract such a long list of international blue-chip investors is a testament the overall Nordic Alpha Partners mission, position and approach to driving value within the critical and difficult growth phase.” 

Laurits Bach Sørensen, another senior partner at NAP who is responsible for value creation, added that the firm was collaborating with The Technical University of Denmark as well as US-based academic institutions on “exploring the viability of establishing an executive education based on our experience and methodology”.

Sørensen explained: “Being a green technology companies navigating through the growth phase is like operating a ship in a perfect storm. They need to simultaneously manage capex intensive complex hardtech, new changing value chains and fast paced organisational and geographical expansion, and so far no academic institution have [sic] a dedicated offering that will equip board members, investors and founders with the necessary skills and language to harness and manage such complexity.”

Nordic Alpha Partners was founded in 2017 and has offices in Copenhagen and Munich. It has raised around €1bn for its funds and portfolio companies to date, including 90% of all IPO/green capital investments and a third of all new IPO/capital stock for listings in Denmark. The firm has made exits of over €250m in the last 12 months, including German wireless charging start-up Wiferion to Tesla, and European SaaS provider Spirii to international payment service provider Edenred. 

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