Alex Bakir (Norrsken Evolve): Fixing the Pre-Seed Sophistication Gap

Alex Bakir (Norrsken Evolve): Fixing the Pre-Seed Sophistication Gap

Author: Hugo Rauch November 26, 2025 Duration: 36:50

We’re joined by Alex Bakir, Partner at Norrsken Evolve, an operator-turned-investor who has built and scaled companies across Silicon Valley and Europe before launching one of the continent’s most distinctive early-stage climate funds.

In this episode, we dive into why Europe’s climate tech story needs a new foundation, one rooted in productive capacity, supply-chain sovereignty, and operator-led support for founders, and what it really takes to convince LPs in today’s market.

In our conversation, we covered:→ Why climate cycles repeat, and why this one is different→ What Alex actually sold to LPs (and why he was oversubscribed)→ The real gap at pre-seed: sophistication, not capital→ Momentum as the new signal: how Norrsken Evolve picks winners→ Why resilience ≠ defense, and what Europe misunderstands→ The role of regionalization and the end of “global by default.”



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com

Hugo Rauch hosts New Wave, a podcast that lives at the intersection of business ambition and scientific reality. This isn't about distant predictions or abstract science; it's a grounded exploration of the technologies and companies being built right now to address our environmental future. Each episode focuses on the practical journey, dissecting the models, the breakthroughs, and the hard decisions that define the climate tech landscape. You'll hear from founders, researchers, and investors who are actively shaping this space, getting into the specifics of what works, what doesn't, and why. The conversations move beyond hype to examine the tangible mechanics of creating viable solutions, from energy storage and sustainable materials to carbon removal and regenerative agriculture. It’s for anyone who thinks about the climate challenge not just as a crisis, but as a complex and urgent field of innovation. By tuning into this podcast, you gain a clearer understanding of the economic forces and scientific principles driving the next generation of environmental solutions. New Wave connects the dots between the lab, the boardroom, and the impact we need to see in the world, offering a sober yet optimistic look at where substantive progress is truly being made.
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