Course Corrected closes $91.1M second fund for Nordic climate tech
What's the deal? Stockholm's Course CorrectedDealroom has a profile for this one. Try Dealroom → has reached a final close on Fund II at US$108.8M, a venture vehicle targeting Nordic early-stage climate technology. The firm, founded in 2021 by Kerstin Cooley and Katja Bergman, backs founders from pre-seed to Series A across the Nordics and Europe.
What's the endgame? Course Corrected invests between €500,000 and €2.5 million per company in what it calls the "energy and resource transition." Its themes span electrification, energy efficiency, industrial decarbonisation, and resource-smart solutions.
Who backed it? The fund is anchored by the European Investment Fund, which committed €34.6 million, alongside Swedish institutional backers including SaminvestDealroom has a profile for this one. Try Dealroom →, SEB Life and Pension, and SEB Stiftelsen. Fund II first closed at more than US$87M in December 2024.
Why now? European cleantech is in a mixed patch: investment value has held up or risen in 2026, but deal counts have fallen and capital is concentrating in fewer, larger transactions. That makes a fresh pool of patient early-stage capital a notable addition, even if the final close sits short of the firm's original US$120.9M target.
The signal: With the EIF underwriting another Nordic climate fund, institutional money keeps flowing to early-stage decarbonisation despite thinner deal activity. For founders in electrification and industrial efficiency, backers writing early cheques are becoming scarcer — and more valuable.
Read more: breakit.se
Image credit: Course Corrected
