Longrun Capital

About Longrun Capital

Longrun Capital AB is a Stockholm-based climate-impact venture firm founded in 2021 by founding partner Johan Frenckner together with the Ljungberg family, a prominent Swedish real-estate and industrial-investment dynasty centred around Tagehus Holding. The firm operates from Valhallavägen 117F in Stockholm and functions as a family-equity and family-backed venture vehicle rather than a third-party-LP fund manager. Capital comes from the Ljungberg family directly, with Cristina Ljungberg and Tom Ljungberg serving on the investment committee alongside founding partner Johan Frenckner and senior investment partner Matilda Knuts. Longrun Capital reports total assets under management of approximately SEK 300 million (approximately €26 million at December 2024 rates), of which roughly SEK 80 million has been deployed into climate-tech companies. The firm is structured as an evergreen single-LP family-backed vehicle and has not raised any external institutional capital. Longrun Capital is explicitly positioned as a climate impact venture firm backed by the Ljungberg family.

Investment thesis

Longrun Capital invests at the Seed to Series A stage in Nordic companies focused on advanced materials and energy for the built environment, with an explicit climate-tech mandate targeting hard-to-abate industries. Sector focus is sharply narrow, covering advanced materials including carbon-negative insulation, fossil-free metals and recyclable glass, energy efficiency including smart water-tap systems and AI-based heating optimisation, and water including airborne water capture and ultrapure water solutions. Geographic focus is Nordic-centric covering Sweden, Denmark, Norway and Finland, although the firm made its first investment outside Sweden in 2025 with Hybridized in Norway. Typical cheque size is SEK 5 to 20 million (approximately €0.4 to €1.8 million) for ownership stakes of 10 to 20 percent. The limited partner base is the Ljungberg family exclusively. Value creation is delivered through the family deep real-estate, construction and building-materials network, board engagement and patient capital with no time-defined exit pressure.

Recent activity

Recent climate-tech investments include Hybridized in insulated glass (Norway, 2025, the firm's first deal outside Sweden), Ekolution in carbon-negative hemp-based insulation (October 2024, the firm's largest single check to date), 3eflow in smart water-tap systems (2023 to 2024), NSS Water in ultrapure water for semiconductors and life sciences (2023), GreenIron in fossil-free metals (2022), Drupps in airborne water capture (2022) and NODA Intelligent Systems in AI heating optimisation (2022). The firm has not disclosed any exits to date from the climate-tech portfolio. The platform continues to deploy across Nordic built-environment climate solutions.

Frequently asked questions

What investment strategy does Longrun Capital focus on?

Longrun Capital focuses on VC strategies in the private equity space.

How many portfolio companies does Longrun Capital have?

Longrun Capital has 7 active portfolio companies and 1 fund tracked on GP Intel.

Where is Longrun Capital headquartered?

Longrun Capital is headquartered in Stockholm, Sweden.

When was Longrun Capital founded?

Longrun Capital was founded in 2021.

What sectors does Longrun Capital invest in?

Longrun Capital invests across Industrials, Energy.