My name is Emil, and I have spent the year 2025-26 working in the Strategy & Communications department at Norfund.
I wanted to experience how an international impact investor sets strategic goals, how impact and financial objectives are assessed, and learn novel ways to provide finance to projects in developing economies. Managing a large portfolio of investments in an unpredictable world is a rewarding challenge, which has filled my sabbatical year with meaning, ambition, and new knowledge.
The internship experience
Originally from Oslo, I am currently studying Industrial Economics and Data Science in Trondheim. My international background, interest in data analytics, geopolitics and finance led me to Norfund. I was planning a gap year to explore my professional interests, and the opportunity to work with developing strategy at Norfund was a perfect fit.
I was quickly immersed in the work and culture at Norfund. I was trusted with the responsibility of analyzing all Norfunds earlier exits. Since Norfund invests with a dual motive: impact and returns, it is important to analyze how investees develop before and after Norfunds exit. Among the several dimensions I assessed were company growth, Norfunds returns, taxes paid to local governments, and employee growth. Additionally, I have assisted the team with several portfolio analyses, AI strategy and data management.
As part of the intern team, we worked together on a strategic project. We analyzed how local currency volatility impacts our portfolio, and how we price currency risk when evaluating projects. While working on the project, we had the opportunity to interview Norfunds management team and external subject matter experts extensively. Finally, we presented the project to the management and organization and were later asked to present in front of the Chief Investment Officers of the other Nordic development finance institutions.
Culture
At Norfund I have been surrounded by interesting people and a unique culture. Besides attracting an extremely competent staff, people have backgrounds from 33 different countries, making discussions a great arena for exploring other cultures and viewpoints. This was especially prominent during Norfund week. In late summer, colleagues from all over the world visit the Oslo office and spend a week together by the fjord, enjoying nature, professional workshops and fun activities.
Throughout the year, there were several other events hosted by Young Norfund. Norfund has grown a lot in later years, and there is a considerate amount of young and energetic colleagues arranging fun activities and inviting interesting speakers. Later, I too had the opportunity to organize several events, set up a show at the Christmas party and hold dinner parties.
Most of all, I enjoyed spending time with the team and at the office. The strategy team follows global affairs closely, and interesting topics on development policy and finance are discussed widely. Besides the professional aspect, there is always room for fun coffee trips by the Oslofjord or jokes at the desk. Finally, the intern group has been incredible. We were a diverse crowd from different disciplines and countries, and I am thoroughly impressed by their level of knowledge. We ended up spending a lot of time together, having fun both in and outside of office hours.
Continuing the journey
While at Norfund, I have found inspiration for how I want to continue my professional journey. I have learnt about the important decisions that are made as an investor in developing economies, about how to mobilize private capital for impactful investments, and how global finance can play a part in transforming societies. I now know that I want to work internationally, perhaps in development finance, and hopefully crossing roads with the network I have made at Norfund during my internship year.