Our latest 0100 Impact Talks episode features Hampus Jakobsson, software engineer turned founder, angel investor, and now VC, co-founded Pale Blue Dot in 2020, a Sweden-based venture capital fund focused on investing in the macro shifts of climate change.
Unlike funds defined by a sector such as AI, Pale Blue Dot views climate not as a solution but as a problem reshaping every industry — from logistics and manufacturing to food and energy. Around 25% of their portfolio is in logistics, 15% in manufacturing, with a focus on companies positioned to gain value as the world transitions to electrification and sustainability.
Jakobsson argues that electrification makes processes cheaper, safer, and geopolitically less dependent, reducing reliance on fossil fuels and conflicts around energy. For him, venture capital should fund companies that are not only climate-positive but also capable of delivering strong returns, thereby attracting mainstream investors and avoiding being limited to impact-only capital.
Fundraising Strategy
Pale Blue Dot raised its second $100M fund in just three months (2023), building on Fund I’s traction. Jakobsson credits his background in enterprise sales for his fundraising success. His approach:
Build a wide top-of-funnel of potential LPs.
Qualify leads fast by listing reasons not to invest (e.g., first-time fund, Sweden-domiciled, early-stage focus).
Save time by letting uninterested LPs say “no” quickly, while those who stayed appreciated the transparency.
Focus calls on honesty and quirky elements of the fund (e.g., no consensus investing, gut-driven decisions).
He contrasts Pale Blue Dot’s model with traditional VC practices: no lavish LP dinners, no champagne, no wasteful perks. Instead, all resources go to helping founders succeed.
Working with Founders
Jakobsson emphasizes that pre-seed investing is about people, not spreadsheets. His process is highly personal:
He adds every founder to WhatsApp, sends voice notes and articles, and engages closely.
If founders can’t handle this level of interaction, they’re not a fit.
The core question: Do I want to work with these people for 15 years?
This approach creates deep trust and long-term alignment with founders.
LP Relationships
Pale Blue Dot keeps LP interactions transparent and personal. Jakobsson likens fundraising to dating — better to be upfront about quirks and expectations early. For him, LPs ultimately want returns, not gifts or parties. He even jokes: “If LPs want our sweater, they need to start a company and get us to invest.”
Europe vs. the U.S.
Jakobsson sees Europe as rich in talent and research but constrained by cultural mindset (fear of failure, discouragement of thinking big) and structural barriers (complex company setups, unattractive stock option regimes, restrictive immigration). Around 80% of Pale Blue Dot’s investments are in Europe, but he stresses the need for Europe to stop relying on the U.S. as a “big brother” and instead create systems that allow ambitious founders to thrive.
Advice for GPs
Be clear about your strategy and resist pressure to drift.
Be transparent with LPs and founders.
Build funds that reflect who you are (small, focused, or scaled franchise-like).
Avoid chasing growth in AUM for its own sake.
Above all: back companies that create both money and meaning.
Macro Context
Hampus acknowledges that Pale Blue Dot’s fundraising benefited from the liquidity-rich years between 2019–2022. With higher interest rates today, fundraising has become much harder, especially for emerging managers. Still, he believes this environment favors serious operators and disciplined funds, while “tourist investors” will disappear.
