What investment strategy does Trill Impact focus on?

Trill Impact focuses on Buyout, VC strategies in the private equity space.

How many portfolio companies does Trill Impact have?

Trill Impact has 21 active portfolio companies and 2 completed exits and 3 funds tracked on GP Intel.

Where is Trill Impact headquartered?

Trill Impact is headquartered in Stockholm, Sweden.

What is Trill Impact's assets under management?

Trill Impact manages approximately €1.4B in assets under management.

When was Trill Impact founded?

Trill Impact was founded in 2019.

What sectors does Trill Impact invest in?

Trill Impact invests across Healthcare, Business Services, Industrials, Energy.

What are Trill Impact's recent exits?

Recent realized exits by Trill Impact include: Sustera Group (2025) to Capital Four.

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Trill Impact

Stockholm, Sweden·Founded 2019·

Buyout Venture Capital

·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

vintages 2020–2024

Portfolio

Exits

Trill Impact is a Stockholm buyout firm with €1.4B AUM, 21 active companies and 2 exits.

SectorsHealthcare Business Services Industrials Energy

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%

Geography breakdown

10 geographies

Sweden

6 · 26%

Germany

5 · 22%

Netherlands

2 · 9%

Austria

2 · 9%

Denmark

2 · 9%

Norway

1 · 4%

France

1 · 4%

Key facts

HQStockholm, Sweden

Founded2019

Employees55+

Websitetrillimpact.com

Recent exits

Trill Impact sold Sustera Group to Capital Four in 2025 after 3 years.

Trill Impact took Cinclus Pharma public in 2024 after 2 years.

Coverage notes

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

Funds & portfolio

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

3 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Trill Impact Fund II

Buyout20244 assets

Buyout

2024 · 2yr

–

Unrealized

4 held

Company	Entry
Noova Energy Systems Energy · Norway	2025
Primutec Business Services · Netherlands	2025
Primutec Solutions Group Construction · Netherlands	2025
TT Medic MedTech · Austria	2024

Trill Impact Ventures

VC2021€90M8 assets1 exits

2021 · 5yr

€90M

Unrealized

8 held

Company	Entry
ILT Inlasningstjanst EdTech · Sweden	2021
May Health MedTech · France	2024
Meona Group HealthTech · Germany	2021
MinervaX Biotech · Denmark	2022
Open Cosmos Aerospace & Defence · UK	2023
Rail-Flow Logistics · Germany	2025
Soil Capital AgTech · Belgium	2024
tado ClimateTech · Germany	2023

Realized

1 exit

Company	Entry	Exit	Type	Buyer	MOIC
Cinclus Pharma Pharma · Sweden	2022	2024	IPO	–	–

Trill Impact Fund IHarvesting

Buyout2020€900M9 assets1 exits

Buyout

2020 · 6yr

€900M

Unrealized

9 held

Company	Entry
Allurity Cybersecurity · Sweden	2021
Delivery Associates Business Services · UK	2023
ILT Education EdTech · Sweden	2021
Infrakraft Construction · Sweden	2022
Karriere Tutor EdTech · Germany	2022
Komet AgTech · Austria	2022
Mesalvo HealthTech · Germany	2021
Nordomatic Business Services · Sweden	2020
Renewtech IT Services · Denmark	2022

Realized

1 exit

Company	Entry	Exit	Type	Buyer	MOIC
Sustera Group Business Services · Finland	2022	2025	Secondary	Capital Four	–

Frequently asked questions

What investment strategy does Trill Impact focus on?: Trill Impact focuses on Buyout, VC strategies in the private equity space.
How many portfolio companies does Trill Impact have?: Trill Impact has 21 active portfolio companies and 2 completed exits and 3 funds tracked on GP Intel.
Where is Trill Impact headquartered?: Trill Impact is headquartered in Stockholm, Sweden.
What is Trill Impact's assets under management?: Trill Impact manages approximately €1.4B in assets under management.
When was Trill Impact founded?: Trill Impact was founded in 2019.
What sectors does Trill Impact invest in?: Trill Impact invests across Healthcare, Business Services, Industrials, Energy.
What are Trill Impact's recent exits?: Recent realized exits by Trill Impact include: Sustera Group (2025) to Capital Four.