IMPACTASSETS 50™

An Annual Showcase of Impact Investment Fund Managers

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An Annual Showcase of Impact Investment Fund Managers

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2024 PROFILE

Katapult Accelerator AS

Total Assets Under Management: $50 – 99M
Asset Class: Private Equity
Primary UN Sustainable Development Goal: 13 – Climate Action
Climate Change

Firm Overview

Category: Venture Capital - Early Stage (Pre-seed/seed, Accelerator, Angel) - Developed Markets

Katapult is a global impact investment firm. We invest in and accelerate early-stage impact startups across three verticals; Ocean, Climate and Africa Since 2017 we have invested in 169 companies across 13 funds. We invest in around 24 companies per year, and all investees participate in our accelerator program.

Firm Headquarters: Western Europe
Years of Operation: 5 – 9 years
Total Assets Under Management:
$50 – 99M
Total Number of Investors: Between 5 – 25
% of Capital from Top 3 Investors: 25% – 49%
Investment Thesis:

We invest in and accelerate global pre-seed and seed stage climate tech startups across Energy, Mobility, Cities and Frontiers

Investment Overview:

Seed stage climate tech is the world's most attractive asset class. Climate change is real, and it will be profitable to fix it. However, capital markets have been focused on late-stage ventures. This has created a global gap in early-stage venture capital. Katapult has built a system to invest in and accelerate these companies. We have unfair advantages in our dealflow and accelerator program. Our scouting process lets us look at thousands of companies per year, and we invest in the top teams. Then we take startups through our accelerator program, which is focused entirely on impact, fundraising, and growth.  The value of this investment system is compounding, allowing us to work with exceptional founders and co-investors. By targeting mainly post-revenue companies we significantly de-risk our portfolio.   

Company Differentiator:

Katapult runs a digital accelerator program built for seed stage startups. This sets us apart from most accelerators and climate tech investors in two meaningful ways: Accelerator: - We typically invest €200k-500k into companies raising €1-2m on €5-20m valuations. This is later stage than most accelerators. - This lets us work with higher quality post-revenue seed startups. More expensive, but much better value. - This system has developed over time, built on our insight. We discovered that going slightly later stage increased program value and company performance on both impact and financial metrics. Seed climate tech: - Our network and dealflow allows us to see several thousand companies per year. This reach is hard to replicate for others. - Our accelerator program allows for a scalable, reliable and demonstrable value-add for 20-25 new companies every year to our portfolio. - LPs balance risk by getting exposure to a global portfolio of companies.

Investment Example

In 2021 Katapult invested in the Finnish company Hyperion Robotics. They have built 3D printing and upcycling technology to produce low carbon concrete. Katapult first met the company in 2020, when they applied for our accelerator program. We kept the dialogue going and in 2021 we invested €300k for 8%. At the time the company had 6-7 FTEs and promising commercial traction with industrial partners for their proprietary products. The digital 3 month accelerator program helped the company build out their impact and fundraising strategy, defining their theory of change, setting and committing to impact metrics, and outlining an ambitious fundraising journey.  In October 2022 the company announced a €3m round led by Lifeline Ventures, where Katapult participated with a small follow-on investment from the 2021 Katapult Climate Fund.   

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
20 – 29 years
Cumulative Impact Experience of Top Three Firm Leaders:
20 – 29 years
Tharald Nustad – Founder More Info

Serial entrepreneur and venture impact investor invested in 120 tech-companies in 40 countries with a proven track and exits. Founder of Katapult and investor in the funds. Early investor in Otovo and Huddly. Involved in all Katapult accelerator and follow-on investments.

Nina Heir – CEO More Info

Angel investor and previous co-founder of 2 impact tech startups. Lead the development and operations of the Katapult flagship accelerator model and been part of executing 4 follow-on investments and 58 accelerator investments in 29 countries since 2017. Experienced startup facilitator and advisor.

Jonas Skattum Svegaarden – CIO More Info

Experienced investment manager and co-founder of the most successful sustainable investing hedge fund in the Nordics. Global experience with small cap investments in non-listed and listed companies within aquaculture, energy and transportation. Pre-IPO investment, debt and equity financing experience.

Financial Performance

Target Financial Returns Relative to Benchmark:
Market Rates
Actual Performance of Impact Products/Funds Relative to Target Financial Returns in the Past Three Years:
Over-delivered compared to initial target returns
Financial Reporting Frequency to Investors or Donors
Semi-annually

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Addressing climate change and environmental issues
Secondary Impact Outcomes:
Conserving land, oceans, ecosystems and natural resources
Creating jobs
Increasing access to water and sanitation
Value-added Services Offered:
Access to markets
Business and legal training
Financial literacy training
Technology training
Education services
Racial bias training or bias training
Other: Impact training

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

We have built an investment system that integrates impact at each stage: - We screen for UN 17 SDGs to evaluate initial impact - We review DD and assign scores on impact, principles and purpose - Investment must pass impact and financial IC, and is used in legal agreements with investees - Impact measuring, KPIs and theory of change is a core module of our accelerator program

Investments systematically include social and environmental sustainability practices in the due diligence process:

We have a thorough DD process where segments are dedicated to understanding a multitude of diversity metrics and governance processes in each company.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Impact Verified by an Independent Third-Party:
No
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to the public
Third Party Validations:
Member of Impact Capital Managers
Impact Frontiers Cohort Participant
Implement recommendations from Task Force on Climate Related-Financial Disclosure
Net Zero Assets Managers Initiative
Utilizes standardized impact metrics (e.g. IRIS+, GIIRS, etc.)
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Jørn Haanæs
Phone: +47 41203011
Mailing Address:

Universitetsgata 2, 0164 Oslo, Norway

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