Statkraft Ventures

Thor Olav Thorsnes Egeland serves as Managing Director. He leads a team of six Investment Directors — Alexander Küppers, Torgunn Oldeide, Stefan Hülsen, Lars Odin Mellemseter, and Steffen Funck — plus CFO Cengiz Polat, per the firm's website.

The firm operates as an autonomous venture arm rather than a traditional corporate venture capital unit focused on strategic acquisitions. While fully backed by Statkraft, Europe's largest renewable energy producer, the fund invests in independent startups with the goal of scaling standalone businesses, not procuring in-house technology. This provides portfolio companies access to deep energy domain expertise without obligating them to integrate with the parent.

Yes. The firm's two funds — an international vehicle and a Norway-focused fund — are each described as software- and hardware-focused, per the firm's website. This dual capacity allows the team to evaluate business models across physical infrastructure, industrial technology, and digital platforms within climate and energy.

The international fund invests across Europe and North America, while a separate dedicated fund targets seed and growth-stage companies in Norway. The parent company's Nordic utility base and European renewable asset portfolio provide additional market intelligence in those regions.

The firm deploys across seed, early-stage, and growth-stage startups. The Norway fund focuses on seed and growth, while the international fund's mandate spans early and growth stages, allowing Statkraft Ventures to support companies from initial commercial validation through later scaling phases.