Pale Blue Dot

The three General Partners — Hampus Jakobsson, Heidi Lindvall and Joel Larsson — share investment decision-making. The firm operates as a flat partnership with no disclosed investment committee beyond the founding GPs. All three are listed on the firm's public filings and website as the key decision-makers.

The firm relies heavily on the founders' personal networks built through prior operating and investing experience. Hampus Jakobsson's TAT exit and subsequent angel investing provided a funnel into the Nordic startup ecosystem, while Lindvall's impact-investing background opened access to climate-specific deal flow. The firm also co-invests regularly alongside peers like Norrsken VC and LocalGlobe, which serves as a secondary sourcing channel.

Pale Blue Dot invests exclusively in European startups. Its most active markets are Sweden, the UK, and Germany, though the fund can invest across the continent. The firm has not disclosed any non-European portfolio companies or plans to expand its geographic mandate.

The firm does not invest in carbon capture hardware, fusion energy, or deep-tech climate solutions requiring significant capital expenditure before product-market fit. Pale Blue Dot's model favors software and marketplace businesses where the path to revenue is shorter and the capital requirements align with venture-scale check sizes. It also avoids non-climate sectors entirely.

Pale Blue Dot has not publicly disclosed a fixed initial check size. Based on its pre-seed and seed focus and the size of Fund II at €93 million, industry-standard modeling suggests typical initial checks in the €500,000 to €2 million range. The firm reserves capital for follow-on investments through Series A.

The firm explicitly reserves capital for follow-on investments through Series A rounds. This is a core part of its stated strategy — making a concentrated number of initial bets and doubling down on the strongest performers, rather than spraying small checks across a broad portfolio without pro-rata maintenance.

Pale Blue Dot operates through a standard Scandinavian fund management structure, with the three General Partners serving as the management team. The firm's second fund, Pale Blue Dot II, closed at €93 million in February 2024, confirming a multi-fund trajectory rather than a one-off vehicle. LP identities have not been publicly disclosed.