NORFUND
Norfund - Creating Jobs - Improving Lives
Norfund is the Norwegian Investment Fund for developing countries with 24.9 bill. NOK in total commitments (2019).
Keywords
start-up fundseedgrowth fundventureacquisition funddevelopment fundunlisted companies
Organization
- CEO
- JT
- Chairman of the board
- OJ
- Years since formation
- 27 years
- since Jan 28, 1998
- Type
- Other business enterprise in accordance with special legislation
- VAT registered
- Yes
- Number of employees
- 118
Financials
- Total operating income 2024
- 2,086,308,000
- NOK
- Annual total result 2024
- 4,098,735,000
- NOK
- Total equity 2024
- 48,826,124,000
- NOK
Last update: Jul 29, 2025
Management
Management / administration
| Name | Role | Shares |
|---|---|---|
JT | Managing Director/CEO | - |
Board
| Name | Role | Shares |
|---|---|---|
OJ | Chairman | - |
MS 1966 | Board Member | - |
| Board Member | - | |
KT | Board Member | - |
ÅM | Board Member | - |
JK 1960 | Board Member | - |
VB 1976 | Board Member | - |
| Board Member | - | |
AJ 1972 | Board Member | - |
Others
| Name | Role | Shares |
|---|---|---|
| Auditor | - | |
| Accountant | - | |
| Accountant | - |
Last update: Aug 20, 2024
Ownership
Shares owned by the NORFUND
| Name | Share class | Total number of shares | Share |
|---|---|---|---|
| Ordinary shares | 11,144,573 | 100 % | |
| Ordinary shares | 1,000,000 | 100 % | |
| C-shares | 12,000,000 | 99.17 % | |
| Ordinary shares | 5,176,500 | 51 % | |
| Ordinary shares | 10,000,000 | 50 % | |
| Ordinary shares | 5,074,810 | 49.83 % | |
| Ordinary shares | 19,762,674 | 33.33 % | |
| Ordinary shares | 74,000 | 33.04 % | |
| Ordinary shares | 2,400,000 | 19.9 % | |
| A-shares | 587,861 | 12.37 % |
Last update: Jun 2, 2025
Group structure
- Total operating income 2024: NOK 2,086,308,000Operating profit 2024: NOK 3,585,731,000Employees: 118
Financials
in NOK
Summary
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total operating income | 2,086,308,000 | 1,554,370,000 | 1,070,459,000 | 5,991,841,000 |
Annual Total Result | 4,098,735,000 | 1,895,887,000 | 2,243,316,000 | 5,815,297,000 |
Total assets | 49,118,852,000 | 42,041,747,000 | 37,443,317,000 | 32,513,835,000 |
Total liabilities | 292,728,000 | 392,406,000 | 365,594,000 | 374,617,000 |
Total equity | 48,826,124,000 | 41,649,342,000 | 37,077,723,000 | 32,139,218,000 |
P&L
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total operating income | 2,086,308,000 | 1,554,370,000 | 1,070,459,000 | 5,991,841,000 |
Total operating costs | -1,499,423,000 | 719,932,000 | -232,232,000 | 464,060,000 |
Operating result | 3,585,731,000 | 834,438,000 | 1,302,691,000 | 5,527,781,000 |
Financial income/costs | 513,716,000 | 1,073,371,000 | 948,402,000 | 295,171,000 |
Profit before tax | 4,099,447,000 | 1,907,809,000 | 2,251,093,000 | 5,822,952,000 |
Total tax & extraordinary income/cost | 712,000 | 11,922,000 | 7,777,000 | 7,655,000 |
Annual Total Result | 4,098,735,000 | 1,895,887,000 | 2,243,316,000 | 5,815,297,000 |
Balance overview
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total fixed assets | 43,900,000 | 43,243,000 | 29,678,000 | 32,374,000 |
Total current assets | 49,074,952,000 | 41,998,504,000 | 37,413,639,000 | 32,481,462,000 |
Total assets | 49,118,852,000 | 42,041,747,000 | 37,443,317,000 | 32,513,835,000 |
Short term debt | 245,187,000 | 333,471,000 | 305,642,000 | 302,509,000 |
Long term debt | 47,541,000 | 58,935,000 | 59,952,000 | 72,109,000 |
Total liabilities | 292,728,000 | 392,406,000 | 365,594,000 | 374,617,000 |
Contributed capital | 29,710,026,000 | 26,634,507,000 | 23,956,355,000 | 21,278,203,000 |
Retained earnings | 19,116,098,000 | 15,014,835,000 | 13,121,368,000 | 10,861,015,000 |
Total equity | 48,826,124,000 | 41,649,342,000 | 37,077,723,000 | 32,139,218,000 |
Total equity and liabilities | 49,118,852,000 | 42,041,748,000 | 37,443,317,000 | 32,513,835,000 |
Classification
Category
Type of organization
Other business enterprise in accordance with special legislation
Standard industrial classification
K
Main industrial area
Financial and insurance activities
64
Activity
Financial service activities, except insurance and pension funding
64.3
Main industrial group
Trusts, funds and similar financial entities
64.30
Industrial group
Trusts, funds and similar financial entities
64.306
Industrial group
Venture and development capital companies