# Norfund: portfolio, investments and team > Norfund is a vc firm based in Norway. 8 investments on record, 1 in the last 12 months, latest Aug 2026. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/norfund (Millionrounds; every figure on the page links to its filing or article) Norway · [Investor](https://millionrounds.com/investors) # Norfund Last cheque observed Aug 2026; 8 cheques on record. Email Deploying now VC firm Seed Series A Series B Renewable Energy Financial Inclusion Scalable Enterprises Follow Norfund and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fnorfund) Deploying now **33%** of best year **1** **cheques in 12 months**, 8 on record Since the last cheque **64** days **00** hrs **00** min **00** sec Median round **$35M** Rounds led **2 of 8** Mostly in **Nigeria, 25%** Pitch Norfund ## Norfund highlights - 01 1 cheques in the last 12 months - 02 Mostly Series A and Debt: 50% of its rounds - 03 Led 2 rounds ## What they do > Norwegian investment fund for developing countries From their own website - **Type:** VC firm (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth - **Sectors:** Renewable Energy Financial Inclusion Scalable Enterprises - **Based in:** Oslo, Norway - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **8 appearances** - **2026** 1 round - **Aug** **[Erco Energía](https://millionrounds.com/company/erco-energia)** Series C · CO · Contxto **$129M** With 3 others - **2025** 2 rounds - **Jun** **[Wave](https://millionrounds.com/company/wave)** Debt · SN · TechCabal **$137M** With 3 others - **Apr** **[OmniRetail](https://millionrounds.com/company/omniretail)** Series A · NG · Disrupt Africa **$20M** *Led* - **2024** 1 round - **Jul** **[Xurya](https://millionrounds.com/company/xurya)** Growth · ID · Clime Capital **$55M** *Led* - **2019** 1 round - **Jun** **[Arnergy](https://millionrounds.com/company/arnergy)** Series A · NG · TechCabal **$9.0M** With 3 others - **2018** 2 rounds - **Dec** **[d.light](https://millionrounds.com/company/d-light)** US · DealStreetAsia **$41M** With 3 others - **Apr** **[Yoma Micro Power](https://millionrounds.com/company/yoma-micro-power)** MM · DealStreetAsia **$28M** With 3 others - **2017** 1 round - **Jan** **[d.light](https://millionrounds.com/company/d-light)** Grant · US · FinSMEs **$11M** With 2 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team We hold **1** person at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. Funds they back ## 6 fund commitments on record - **Managers:** 4 Every fund on record that it has committed money to, and the managers who invest it. Source: fund news. Managers it backs most - [Novastar Ventures 2 funds](https://millionrounds.com/fund/novastar-ventures) - [Ventures Platform 2 funds](https://millionrounds.com/fund/ventures-platform-fund) - [Integra Partners 1 fund](https://millionrounds.com/fund/integra-partners) - [Phatisa 1 fund](https://millionrounds.com/fund/phatisa) Most recent commitments - [Integra Partners Integra Partners Fund II LP](https://millionrounds.com/fund/integra-partners) - [Novastar Ventures Africa People and Planet Fund III (NVIII)](https://millionrounds.com/fund/novastar-ventures) - [Novastar Ventures Novastar Ventures Africa People and Planet Fund III](https://millionrounds.com/fund/novastar-ventures) - [Phatisa Phatisa Food Fund 3](https://millionrounds.com/fund/phatisa) - [Ventures Platform Fund II](https://millionrounds.com/fund/ventures-platform-fund) - [Ventures Platform VP Pan-African Fund II](https://millionrounds.com/fund/ventures-platform-fund) ## The cheque Seed Series A Series B Median round joined **$35M** the round, not its cheque Led 2 of 8 rounds **25%** - **Sole investor:** Never alone - **Last cheque:** Aug 2026 Rounds by stage said on their site - Series A said *2* - Debt *1* - Grant *1* - Growth said *1* - Series C *1* - Seed said *-* - Series B said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [British International Investment](https://millionrounds.com/fund/british-international-investment-bii) 2 **Pitching Norfund?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Norfund. A count of rooms they were both in, not a relationship either has claimed. [**British International Investment** Government **2** rounds together](https://millionrounds.com/fund/british-international-investment-bii) ## Recently backed The latest companies Norfund put money into. [**Wave** $137M · Jun 2025](https://millionrounds.com/company/wave)[**OmniRetail** $20M · Apr 2025](https://millionrounds.com/company/omniretail)[**Xurya** $55M · Jul 2024](https://millionrounds.com/company/xurya)[**Arnergy** $9.0M · Jun 2019](https://millionrounds.com/company/arnergy)[**d.light** $41M · Dec 2018](https://millionrounds.com/company/d-light)[**Yoma Micro Power** $28M · Apr 2018](https://millionrounds.com/company/yoma-micro-power) ## Quick answers about Norfund ### What does Norfund invest in? Norfund invests most often at Series A and Debt (50% of the rounds on record), in sectors such as Renewable Energy, Financial Inclusion and Scalable Enterprises. ### How active is Norfund? 8 investments on record, 1 of them in the last 12 months, and it led 2. The most recent was in Aug 2026. ### What has Norfund invested in recently? Its most recent investments on record: Erco Energía (Series C, Aug 2026), Wave (Debt, Jun 2025) and OmniRetail (Series A, Apr 2025). ### How big are Norfund's cheques? The median round it joins is $35M. ### Does Norfund lead rounds? Yes: it led 2 of its 8 investments on record (25%). ### Where does Norfund invest? Most of the companies it backs are in Nigeria (25%), the United States (25%) and Colombia (13%). ### Is Norfund investing now? Yes: it is actively investing, with 1 investments in the last 12 months. ### Who does Norfund invest alongside? Most often British International Investment (2 rounds together). ## Raising now? 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