Nysnø invests in Core Equity Fund I to finance Norwegian tech companies scaling globally and reducing emissions

Stavanger (September 4, 2024) – Nysnø Climate Investments invests NOK 50 million in Core Equity Fund I. Through this fund, Nysnø contributes with growth capital to technology companies that reduce greenhouse gas emissions and enhance sustainability.

“Core Equity combines unique experience, a clear investment strategy, and an attractive investment universe. Core has a strong team that works actively to create value in the growth companies they invest in,” says Lene Hodge, Investment Manager at Nysnø.

Core Equity Fund I is a first-time fund established by the highly experienced partners Gunnar Sellæg and Jostein Pettersen, formerly of Spring Capital Polaris, along with Peter Tonstad and Susanne Holst, both of whom have strong operational experience from several tech companies. Core Equity Fund I has raised nearly NOK 800 million and aims to invest in 8-10 growth companies that contribute to reduced emissions and increased sustainability.

“Nysnø is proud to support a new fund manager in Norway that has proven its success for scaling companies globally during critical growth phases. As Core Equity now increases its focus on climate, a larger part of the Norwegian ecosystem will gain access to this expertise,” says Lene Hodge, Investment Manager at Nysnø.

Core Equity invests in companies with a proven business model and ambitions for further scaling and international growth.

“Core’s main goal is to help Nordic SaaS companies succeed globally. We work very operationally with product, sales, and marketing within the companies to ensure strong international growth. We are very pleased to have Nysnø on board, as we know them to be professional and highly skilled,” says Gunnar Sellæg, Partner at Core Equity.

So far Core Equity Fund I has invested in the Norwegian companies Disruptive Technologies and Cemit. Cemit uses AI and operational data to detect and prevent failures in railways for increased efficiency and reduced maintenance. With customers on three continents, the company is ready for further scaling.

Disruptive Technologies has developed the world's smallest and longest-lasting sensor, which can be used to increase energy efficiency in commercial buildings and improve control of cold storage facilities. The company has a broad customer base in Europe and the Nordics and is experiencing growing interest in the American market.

Core Equity has offices in Norway, and Fund I will primarily invest in Norwegian companies. Nysnø invests NOK 50 million into the fund.

About Core Equity:

Core Equity is a Norwegian venture/growth investor based in Oslo, founded by Susanne K. Holst, Peter J. Tonstad, Jostein S. Pettersen, and Gunnar R. Sellæg in 2023. The fund aims to invest in companies that digitize manual processes to increase efficiency and reduce greenhouse gas emissions. Core Equity Fund I plans to invest nearly NOK 800 million in 8-10 growth companies with global ambitions.