EV Private Equity

Helge Tveit co-founded the firm in 2002 and serves as Managing Partner, leading the investment strategy from Stavanger. He built the team alongside Ole Melberg and Einar Gamman, whose senior executive experience cemented the management group early on. The firm operates a partnership structure with investment decisions driven by this core leadership.

Prior to 2020, EV invested broadly in oil and gas technology companies that provided operational efficiencies to the traditional energy industry. Since 2020, the firm has invested exclusively in energy companies that deliver emissions-reduction solutions, aligning its portfolio with the goal of displacing hydrocarbons and meeting Paris Agreement targets. This shift reoriented a two-decade fossil-fuel technology track record toward the energy transition.

EV Private Equity is structured as a fund manager — not a family office. It raised its initial capital from institutional backers, notably Argentum, Norway’s state private equity fund, and has operated a blind-pool fund model since its 2002 founding. The firm does not represent a single family’s wealth.

EV invests across buyout, growth, and early-stage opportunities, depending on the maturity of the energy technology. Its portfolio has included venture-stage sensor and software companies alongside more mature service providers requiring expansion capital or management buyout structures. The common thread is technology that reduces emissions in energy value chains.

Since 2020, EV has avoided any investment in companies whose primary business enables new hydrocarbon production without a measurable decarbonization or displacement angle. The firm’s legacy oilfield-service holdings predate the mandate shift, but new commitments must meet the emissions-reduction threshold.

EV leverages a network built over 20 years in the North Sea energy corridor, supplemented by its Aberdeen office and a portfolio that has historically stretched into North America and the Middle East. The firm’s sector expertise in subsurface sensors, process efficiency, and industrial software gives it a proprietary sourcing advantage among energy-technology founders targeting emissions reduction.

The firm’s available materials do not detail a formal co-investment program with external general partners. Its model has centered on direct investing in portfolio companies, though its institutional LP base includes Argentum. There is no public evidence of a dedicated co-investment vehicle or systematic syndication strategy.