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Trill Impact

Trill Impact

Stockholm, Sweden·Founded 2019··trillimpact.com

Trill Impact is a Nordic impact investment house founded in 2019 by EQT co-founder Jan Stahlberg, managing around EUR 1.4 billion across Impact Private Equity, Impact Ventures and Microfinance strategies, focused on control buyouts of mid-market companies in the Nordics and DACH region plus minority venture stakes in European scale-ups.

AUM
€1.4B
Funds
3
vintages 2020–2024
Portfolio
21
Exits
2

Key facts

HQStockholm, Sweden
Founded2019
Employees55+

Recent exits

Sustera Group
Business Services2025 · 3yr hold
Cinclus Pharma
Cinclus Pharma
Pharma2024 · 2yr hold

Coverage notes

3 funds tracked, 23 portfolio companies (21 active · 2 realized). Verified weekly from public filings and deal announcements.

Sector breakdown

23 companies
Business Services
4 · 17%
EdTech
3 · 13%
Construction
2 · 9%
MedTech
2 · 9%
HealthTech
2 · 9%
AgTech
2 · 9%
Energy
1 · 4%
Pharma
1 · 4%

Funds & portfolio

Every fund Trill Impact has raised, with its portfolio companies. Hand-checked from public filings.

3 funds
Trill Impact Fund IIBuyout
2024 · 2yr4 active

Unrealized

4 held
EnergyNorway· Entry 2025
PrimutecActive
Business ServicesNetherlands· Entry 2025
ConstructionNetherlands· Entry 2025
TT MedicActive
MedTechAustria· Entry 2024
Trill Impact VenturesVC
2021 · 5yr€90M8 active · 1 realized

Unrealized

8 held
EdTechSweden· Entry 2021
May Health
May HealthActive
MedTechFrance· Entry 2024
Meona GroupActive
HealthTechGermany· Entry 2021
MinervaX
MinervaXActive
BiotechDenmark· Entry 2022
Open Cosmos
Open CosmosActive
Deep TechUK· Entry 2023
Rail-FlowActive
LogisticsGermany· Entry 2025
Soil CapitalActive
AgTechBelgium· Entry 2024
tado
tadoActive
ClimateTechGermany· Entry 2023

Realized

1 exit
Cinclus Pharma
Cinclus PharmaExited 2024
PharmaSweden· Entry 2022
IPO
Trill Impact Fund IBuyoutHarvesting
2020 · 6yr€900M9 active · 1 realized

Unrealized

9 held
AllurityActive
CybersecuritySweden· Entry 2021
Business ServicesUK· Entry 2023
EdTechSweden· Entry 2021
InfrakraftActive
ConstructionSweden· Entry 2022
EdTechGermany· Entry 2022
KometActive
AgTechAustria· Entry 2022
MesalvoActive
HealthTechGermany· Entry 2021
NordomaticActive
Business ServicesSweden· Entry 2020
RenewtechActive
IT ServicesDenmark· Entry 2022

Realized

1 exit
Sustera GroupExited 2025
Business ServicesFinland· Entry 2022
Secondaryto
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Last updated August 2026 · Sourced from public filings · Report an issue