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We invest in cutting-edge companies across Europe that are changing the world.
We are driven by the belief that innovation offers compelling answers to the most pressing problems facing the world – achieving sustainable prosperity.
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First investment

August 2021


Stockholm, Sweden
Carbon accounting software

Normative is the world’s leading emissions accounting engine, helping businesses calculate their entire climate footprint and reduce their greenhouse gas emissions. Normative sets a new standard in carbon accounting, automates emission calculations and guides companies to net zero.


What value does ETF Partners' investment and hands-on involvement bring?


ETF partners has a strong network in sustainable finance and has been investing for more than a decade in climate tech, a sector that is driving the adoption of carbon accounting. With the added funding we are able to accelerate the work to take Normative to the next level and continue to set the standard in carbon emission accounting.

Today, businesses need to have better, more accurate data on their emissions, both for compliance purposes but also so they can have a credible plan to get to net zero. We are very pleased to team up with ETF Partners to make Normative the norm for carbon accounting.
Kristian Rönn CEO and Co-Founder

More from our portfolio

Future Mobility  -  Shipzero , Urbantz , Vulog , Zeelo , Shippeo , Basemark , DeepSea Technologies* 
Energy Transition  -  Dexter Energy , Flyability , QOS Energy* , Greenbird* , Wirepas 
Responsible Consumer  -  Hellas Direct , Fairly Made , Enablon* , Gen Phoenix , Tomorrow , SOS Accessoire 
Sustainable Food  -  AIPERIA , Phenix , The Modern Milkman