{
  "id": 18279797,
  "title": "Nordic Compass: Vil lage nordisk gigafond",
  "url": "https://urgent.news/2026/11/05/nordic-compass-vil-lage-nordisk-gigafond",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-05T09:00:42.000Z",
  "source": {
    "name": "E24 Norway",
    "slug": "e24-norway",
    "url": "https://e24.no/boers-og-finans/i/Ab6pyA/nordic-compass-vil-lage-nordisk-gigafond"
  },
  "original_language": "en",
  "account": "For the first time, the newly formed Nordic business alliance Nordic Compass held a summit in Gothenburg. The alliance was launched in May, and dozens of Norway's largest companies, foundations, and top leaders have joined forces to develop and introduce initiatives aimed at \"strengthening North's competitive and resilient strength,\" the alliance said at the time. This year's summit was divided into four focus areas: capital markets, defense, deep tech, and energy. E24 spoke with the leader of the alliance's capital group, the CEO of Nordengren at Blackrock and former CEO of Nordea, Danish Christian Clausen. He says that through five concrete initiatives, they will build a more integrated capital market in Norway to ensure future economic growth. \"The goal is to mobilize Nordic capital and ensure it is directed in a way that stimulates growth and makes investments across borders as simple and seamless as possible,\" the alliance's vision states. Among the initiatives the alliance has highlighted is a Nordic fund aimed at financing rapidly growing companies that are not yet publicly traded. \"We have analyzed the entire financing chain, from seed to venture, growth, scaling, and listing,\" Clausen explains. Access to risk capital is scarce for such unlisted companies in Norway, according to the Blackrock executive. \"The goal is for the fund to lead and co-lead financing rounds between 25 and 75 million euros and be present at all subsequent financing rounds,\" the alliance argues. The companies will also go public in the United States. Last year, Klarna was listed on the New York Stock Exchange, and the Finnish health technology company Oura was on the verge of listing on the American Nasdaq until the deal fell through in September. Nordic Compass is a business alliance that brings together 30 of the largest and most influential companies across Scandinavia. This year, the alliance is focusing on capital markets, deep tech, defense, and energy. The alliance's ambition is to help Norway compete globally and build Nordic competency centers so the economy can grow. Currently, the fund is not clear, but Nordic Compass is working on mobilizing an anchor group to define the fund's mandate, size, and structure, Clausen says. The most ambitious initiative from the capital group is the ambition to create a common public market in Norway. \"By public, we mean stocks, bonds, and other financial instruments,\" he says. The idea is to make it easier to buy and sell stocks without the price changing much, increasing liquidity and depth in the market so that more international and Nordic interest can be attracted. The goal for Nordic Compass is that such a Nordic market will give a greater capacity to absorb large listings. According to a press release, this will give a clear path for scaling companies to go public in Norway. Recently, there have been reports that Nordic Compass has been sniffing around the idea of creating a Nordic \"superexchange.\" Clausen denies this. \"We have not had a project to create a common exchange,\" he says. \"The important thing is that we want to create a common market for trading, settlement, reporting, and custody of securities.\" To achieve this, he says that all markets must have the same rules for listing, prospectuses (documents that give investors important information about a company and the risk of investing in it) and reporting obligations. \"Everything must be the same,\" he adds. However, he acknowledges that implementing this initiative is not easy, although they have now joined forces with Euronext and Nasdaq, which own and operate all the exchanges in Scandinavia, and Euroclear, which handles settlement and registration of stocks and bonds for multiple exchanges in Scandinavia. \"We have agreed on where we want to go, now we need to work and make it happen,\" Clausen says, acknowledging that this is a huge project and that they need to create a plan to implement it. In the meantime, the alliance has launched two initiatives to mobilize capital in Norway, namely ensuring that pension funds can invest fully in unlisted stocks and increasing access to capital for growth companies by mobilizing retail investors' savings from bank accounts into the stock and fund markets. Clausen stresses that while many in Norway have money in financial markets, they believe that knowledge about the stock market and funds is not widespread enough. \"In Norway, we are spoiled for choice, but it seems that knowledge about the stock market and funds is not so widespread,\" he says. The goal is to ensure that savers outside the professional sector also participate in the wealth creation in society. \"We also believe it is possible to create a common market for investment funds in Norway,\" he says of the fifth and final initiative. According to their research, 25% of all funds coming from Norway and being invested will end up in the United States.",
  "summary": "Industrialliansen Nordic Compass sier at de ikke har planer om å lage noen nordisk «superbørs».",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}