Canada-based ArcTern Ventures, a VC fund focused on clean technology growth companies, today announced that it has hired Kristin Aamodt join the ArcTern team in Oslo, Norway, marking the first European hire for the company.
The move marks a further step in ArcTern’s expansion into Europe, which the company views as an attractive region for investing in sustainability-focused companies, particularly in light of the recently announced European Green Deal. Launched in December 2019, the European Green Deal is a roadmap for making the EU’s economy sustainable, setting ambitious climate and energy targets for 2030, and a continental goal of zero net emissions by 2050.
With roots in North America, ArcTern sees additional opportunity to assist emerging European cleantech companies with their North American expansion plans, with a focus on subsectors including mobility, circular economy, sustainable food supply, and decarbonization of energy systems.
Aamodt will join ArcTern in the role of Investment Director Europe. Most recently, she was a Managing Director at Equinor Technology Ventures, and she also worked as a Managing Director at Statoil Technology Invest.
Commenting on the company’s European expansion, Managing Partner Tom Rand said:
“We’re excited to establish our European head office in Norway, as the country shares many values with Canada. Both countries are strategic in their approach to the economic opportunities enabled by cleantech and both are working to transition from historical strengths in oil & gas to a low carbon economy.”
Murray McCaig, Managing Partner at ArcTern welcomed Aamodt:
“We’re extremely pleased we’ve been able to recruit a strong leader for the office that will enable us to quickly build our presence in the European ecosystem.”
Siri Kalvig, CEO at Nysnø Climate Investments, added:
“ArcTern Ventures brings world-class investor competence and capital to Norway and Europe – and we look forward to working with Kristin as she joins ArcTern from Oslo. The time to ramp up investments for a cleaner, greener future is now – and ArcTern’s presence will undoubtedly strengthen the global expansion of technologies that solve climate change.”