About Norfund
Norfund is a Financial Services company based in Oslo (Norway) founded in 1998, and was acquired by First Financial Equipment Leasing in December 2022. Norfund has completed 4 acquisitions, including FES Africa, Globeleq and SNPower. Its chief executive, as recorded, is Tellef Thorleifsson. Its website norfund.no draws about 28 thousand monthly visits. Norfund offers products and services including Renewable Energy Investments and Financial Inclusion Services. Its focus areas include Investment Industry, Private Equity Funds, Growth Equity and Sustainable Funds. Its legal entity is The Norwegian Investment Fund for Developing Countries.
Company details
It invests in developing countries to create jobs and improve lives. The organization focuses on providing equity capital and other risk capital to build sustainable businesses and industries. Its investment areas include renewable energy, financial inclusion, scalable enterprises, and green infrastructure. A key objective is to support the transition to net zero emissions by investing in renewable energy projects in emerging markets. It works as a responsible minority investor, collaborating closely with local partners to develop solutions tailored to the specific needs of each country. Profitability is a crucial factor, ensuring the long-term sustainability of its investments and enabling the reinvestment of capital into new opportunities. The organization also aims to add non-financial value through expertise and active ownership, enhancing both profitability and development impact.
- Headquarters Oslo, Norway
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website norfund.no
- Social LinkedIn X Facebook
- Acquired by First Financial Equipment Leasing (Dec 2022)
- Legal Name The Norwegian Investment Fund For Developing Countries
- Annual Revenue$147.37 M (USD)45as on Dec 31, 2023
- Net Profit$179.75 M (USD)-15as on Dec 31, 2023
- EBITDA$167.3 M (USD)-7as on Dec 31, 2023
- Latest Funding Round$79.25K (USD), Grant
Mar 2023
- InvestorsEuropean Union
& 1 more
- Investments & AcquisitionsFES Africa
& 3 more
- Acquired byFirst Financial Equipment Leasing
(Dec 2022)
Products & Services of Norfund
Norfund offers a comprehensive portfolio of products and services, including Renewable Energy Investments and Financial Inclusion Services.
Investments are made in renewable energy projects to promote sustainable development in developing countries.
Services are provided for financial inclusion to enhance access in developing regions.
Funding Insights of Norfund
- Total Rounds 2
- Last Round Grant — $79,254
- First Round $98,519
(Nov 2019)
- Investors Count 1
All 2 funding rounds of Norfund with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2023 | $79,254 | Grant | – | – | |
| Nov 2019 | $98,519 | Grant | – | – |
2 investors in total: 2 institutional.
Investors in Norfund
Norfund has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include European Union and First Financial Equipment Leasing.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Equipment leasing and financing services for healthcare, technology, and construction sectors. | 2020 | ffequipmentleasing.com | Orange, United States |
Investor details for Norfund
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
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People of Norfund
42 people are tracked at Norfund (27 in leadership, 15 in team).
| Name | Role | Group |
|---|---|---|
Pablo Barrera | Non Executive Director | Leadership |
Olaug Svarva | Chairman of Board | Leadership |
Brit Kristin S Rugland | Board Member | Leadership |
Martin Skancke | Board Member | Leadership |
Kjell Roland | Managing Director | Leadership |
Tellef Thorleifsson | CEO | Leadership |
Saweera Rachawong | Investment Manager | Leadership |
Alessandro De Camillis | Investment Associate | Leadership |
Michelle Kamau | Investment Analyst | Leadership |
Signe Kolbye Sørensen | Director Strategy & Impact | Leadership |
Vegard Halvorsen | Investment Director, Funds | Leadership |
Marianne Halvorsen | Investment Director | Leadership |
William Greene | Investment Director | Leadership |
Victor Lager | Director Portfolio Management | Leadership |
Heidi Achong | Investment Director | Leadership |
Nikolai Johns | Investment Director | Leadership |
Espen Froyn | Vice President | Leadership |
Sandersen Erik | Executive Vice President - Head Of Financial Institutions Investments | Leadership |
Simen Berger Øby | Senior Vice President | Leadership |
Per Kristian Sbertoli | Director Of Public Relations | Leadership |
22 more people are available in the full profile.
Complete people profiles for Norfund
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Investments & Acquisitions by Norfund
Norfund has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include FES Africa, Globeleq and SNPower.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Land irrigation, clearance, and consulting services are provided. | fes.africa | Blantyre, Malawi | 1967 | Apr 2022 | •••• | |
Diverse power plants in Africa are developed and operated. | globeleq.com | London, United Kingdom | 2002 | Sep 2015 | $227M | |
Producer, processor & exporter of fresh vegetables and exotic fruits | serengetifresh.com | Arusha, Tanzania | 2010 | Jun 2014 | •••• | |
Hydropower plants in emerging markets are developed and managed. | snpower.com | Oslo, Norway | 2002 | Jun 2013 | •••• |
Complete acquisition details for Norfund
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Norfund
8 dated milestones of Norfund across 25 years, from founding to its latest funding, stage changes and deals.
- Founded Norfund is founded.
- Acquisition Acquires SNPower.
- Acquisition Acquires Serengeti Fresh.
- Acquisition Acquires Globeleq.
- Funding First funding round of $99K.
- Acquisition Acquires FES Africa.
- Exit Acquired by First Financial Equipment Leasing.
- Funding Latest funding round, Grant, of $79K.
Web traffic of Norfund
The website of Norfund (norfund.no) receives about 27.9K visits a month.
- Monthly visits27.9K
▲ 1.3% vs previous month
Websites whose visitors overlap most with Norfund. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| worldbank.org | 100% | 6M | #10,114 | View details | |
| afdb.org | 85% | 486.7K | #95,536 | View details |
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Related news about Norfund
Complete news archive for Norfund
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Articles about Norfund on our blog
Frequently Asked Questions about Norfund
Norfund was founded in 1998 and raised its 1st funding round 21 years after it was founded.
Norfund is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Tellef Thorleifsson is the CEO of Norfund, as recorded in our data.
Annual revenue of Norfund is $147.37M as on Dec 31, 2023.
It invests in developing countries to create jobs and improve lives. The organization focuses on providing equity capital and other risk capital to build sustainable businesses and industries. Its investment areas include renewable energy, financial inclusion, scalable enterprises, and green infrastructure. A key objective is to support the transition to net zero emissions by investing in renewable energy projects in emerging markets. It works as a responsible minority investor, collaborating closely with local partners to develop solutions tailored to the specific needs of each country. Profitability is a crucial factor, ensuring the long-term sustainability of its investments and enabling the reinvestment of capital into new opportunities. The organization also aims to add non-financial value through expertise and active ownership, enhancing both profitability and development impact.
Norfund offers Renewable Energy Investments and Financial Inclusion Services.
Norfund has made 4 acquisitions, including FES Africa, Globeleq, and SNPower.
Norfund has 2 investors. Key investors include European Union, and First Financial Equipment Leasing.
Norfund operates through The Norwegian Investment Fund For Developing Countries.
Yes. Norfund was acquired by First Financial Equipment Leasing in December 2022.