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Quick info
FOUNDED
MANAGEMENT
Portfolio companies
Location
Description

Vargas is a long-term investor and an active owner of purpose-led companies, with an ambition to establish regional or global leadership. Together with bold entrepreneurs, Vargas builds impact companies to realise ideas that push boundaries for a sustainable future.

We identify, validate, finance, launch and scale impact companies. From our extensive experience, we know that true disruption requires new approaches and ways of working. We have developed a greenfield model for building competitive and commercially viable companies from the ground up, based on large-scale projects, vertical integration and close customer collaboration. We have started with green batteries, steel, hydrogen and home energy-tech. Polarium, Northvolt, H2 Green Steel and Aira are our first impact companies, all aiming for regional or global leadership.

Accelerating the transition

Global forces are putting pressure on industry to reinvent itself. Climate change is the biggest challenge of our time, as global emissions need to be halved every decade from now to reach net-zero and the Paris Agreement by 2050. At the same time, the geopolitical landscape is changing rapidly and value chains are being disrupted. We also see acceleration of technological advancements and digitalisation, creating solutions for today’s challenges – and those of tomorrow.

Customer demand and regulations for better alternatives are increasing worldwide, but more needs to be done. Accelerating the transition to a sustainable future is everyone’s responsibility, and at the same time, an enormous opportunity. That is the idea behind Vargas.

THINKING

BIG,

ACTING

FAST

AND

GETTING

THINGS

DONE

Our vision

Decarbonising 1% of global emissions

There is no shortage of decarbonisation opportunities. But turning an opportunity into reality requires that we think big, act fast and get things done. Vargas has a unique position to enable disruptive ideas that make industrial transformation happen. By targeting the highest-emitting industry verticals, we will reach our vision to decarbonise one percent of global emissions.

Our mission

Building impact companies

We are on a mission to build impact companies by putting innovation, technology and capital to work. Once we have identified and validated a business case, we finance, launch and scale a bold company that will rewrite the rules of its industry. This set us apart from traditional investors.

Our story

Investors and entrepreneurs at the core

Our story began when we founded Polarium, today a leading player within the energy storage solution space. Once we realised the impact and financial potential of challenging hard-to-abate industries with new business models, successful technologies and customer collaboration, we founded Vargas. As we expanded our model, Northvolt, H2 Green Steel and Aira were born. The rest of our story is yet to be written.

team

We are entrepreneurs and investors who build companies that solve real problems, contribute to sustainable development, and that take leading positions within their respective industries. Our team and advisors have extensive experience in corporate development and have worked in a wide range of sectors.

Vargas has significant influence over the companies in our portfolio. Through board representation, we work actively to ensure value creation and that the businesses are managed ethically and responsibly.

Carl-Erik Lagercrantz
CEO

More than 20 years’ experience in the IT and telecom segments, with leading roles at, among others, Utfors, Telenor and British Telecom Nordics. He also has a background as a successful entrepreneur. He is chairman of Polarium and vice chairman of Northvolt and H2 Green Steel.

Harald Mix
Chairman of the board

Harald is the founder and partner of Altor Equity Partners. He serves as the chairman of H2 Green Steel and Aira. In addition, he sits on the board of Carnegie Investment Bank, Nordic Leisure Travel Group, and Kinnevik. Previously, he was the deputy CEO and a founder of Industri Kapital. Harald holds a Bachelor's degree from Brown University and an MBA from Harvard University

vargas x

Vargas X is our unit that develops new initiatives with the aim of launching companies to accelerate decarbonisation. We work together with our industrial advisors to realise new exciting projects.

Industry advisors

Vargas’ network of industry advisors and investment managers consists of executives with excellent track records of working in areas such as power supply, energy policy, telecom, regulatory affairs, policy making, finance and business strategy. Our advisors assist us by providing expertise, strategic advice and support with stakeholder relations.