Erik Sandersen has been appointed as the new CEO of Norfund, the Norwegian investment fund for developing countries. Sandersen has 25 years of experience from the financial sector and has for the past ten years headed Norfund’s Financial Inclusion department.
“The Board is very pleased to have appointed Erik Sandersen as the new CEO of Norfund. He has strong investment expertise, in-depth knowledge of Norfund’s work and a strong commitment to the fund’s mission,” says Olaug Svarva, Chair of the Norfund Board of Directors.
As CEO, Sandersen will be responsible for Norfund’s three mandates: the original development mandate from 1997, aimed at reducing poverty through job creation in developing countries; the Climate Investment Fund, which Norfund has managed since 2022; and the Ukraine Fund, established in December 2024.
“Norfund’s profitable investments are an effective tool for development – whether it is about creating jobs in low-income countries, avoiding emissions in emerging economies or contributing to reconstruction in Ukraine. I look forward to leading the organisation going forward at a time when access to the capital and expertise we can offer is becoming increasingly important,” says Erik Sandersen.
Sandersen joined Norfund in 2014 as Investment Director in the Financial Inclusion department, which invests in banks, microfinance and fintech, with a particular aim of contributing to job creation in small and medium-sized enterprises. Since 2016 he has headed the department, and from 2024 he has also led the work on the Ukraine Fund. Over a number of years, he has represented Norfund on the boards of, among others, Arise, an investment company for banks in Africa, and Abler Nordic, which invests in microfinance in Africa and Asia.
“The strong results Norfund delivers are based on the efforts of a highly skilled and diverse staff of 152 employees from 33 nationalities, and I look forward to working closely with them to further develop Norfund as a leading purpose-driven investment company,” says Sandersen.
Prior to Norfund, Sandersen spent ten years as a co-founder and partner in a Norwegian venture capital firm, and he also has experience from Boston Consulting Group as well as leadership roles in the IT sector. Sandersen holds a master’s degree in computer science from NTNU and an MBA from Stanford University.
Sandersen succeeds Tellef Thorleifsson, who in January announced that he would step down after 7.5 years as Chief Executive Officer. Sandersen takes up the position on 1 July.