Linn-Cecilie emphasizes that impact investing requires intentionality and measurability. According to her, “You can do a lot of impact investments unintentionally, but if you don’t have the intentionality there, it can be hard to call it real impact.” LUMO Labs, where she currently works, uses intentionality as a core part of their investment thesis. They measure both the financial returns and impact KPIs, ensuring that each investment stays true to its impact goals over the long term.

This intentional approach is key in climate tech as the sector grows rapidly. As Linn-Cecilie notes, the impact investing market has reached “1.16 billion dollars” and is set to expand 20% yearly, showing how intentional impact is becoming the new normal in the investment world.

With a primary focus on early-stage investments, LUMO Labs actively encourages startups to scale beyond their local markets. Linn-Cecilie points out, “Our whole thesis is to take these companies and make them go out of their own market as soon as possible.” For climate tech and impact-focused startups, scaling is often essential to reach global markets and make a measurable impact.

By leveraging networks in the Nordics, Baltics, and beyond, Linn-Cecilie’s team at LUMO Labs helps startups overcome geographic and cultural barriers, setting them up for global success. This ability to bridge regions is what makes LUMO Labs’ impact investing approach truly valuable.

Linn-Cecilie shares that many Nordic founders tend to prioritize values over profit. She notes, “To build the biggest and the best companies, you need to be driven by something else than profit.” This value-driven approach is increasingly prominent in Norway and the Nordic regions, where impact and sustainability are core parts of the entrepreneurial mindset.

This shift toward values is especially beneficial in the climate tech space, where creating a positive impact is integral to the company’s mission. Startups in this ecosystem aren’t just focused on financial growth; they aim to create real-world change, which aligns with LUMO Labs' focus on investing in sustainable urban solutions.

One unique aspect of Linn-Cecilie’s work at LUMO Labs is collaborating with Tech Transfer Offices (TTOs) at universities to identify and develop early-stage tech innovations. She explains, “We invest very early, so we can do pre-seed and up to late-seed, often with projects coming directly out of TTOs.”

Working closely with TTOs allows her team to invest in cutting-edge technologies that address climate and urban challenges. These partnerships bring academic innovations to market faster, enabling climate tech startups to build solutions that are not only technologically advanced but also deeply impactful.

Linn-Cecilie highlights how LUMO Labs strives to support founders beyond mere financial investment. She states, “It’s not always a pitching competition; there is space for conversations.” Her firm places a strong emphasis on mentorship and availability, with Linn-Cecilie herself often meeting with founders just for a chat, even if no investment is immediately involved.

This approach is especially encouraging for early-stage startups, who may feel intimidated by VCs or overwhelmed by their financial needs. Her advice for founders? Don’t be discouraged by a “no” from VCs—often, it’s about alignment rather than company quality. LUMO Labs aims to foster an ecosystem where startups can thrive with the right support, not just funding.

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Find Linn-Cecilie on:

LinkedIn: Linn-Cecilie Linnemann

Instagram: @linnlinne

Find Ben on:

LinkedIn: Ben Costantini

Twitter/X: @bencostantini

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