We combine diverse perspectives with investment, operational and entrepreneurial experience to provide strategic and practical support as companies scale
Meet the team
Terje Berg-Utby joined Skagerak in 2006. He brings extensive experience in scaling companies that integrate both software and hardware. Before his time at Skagerak, Terje earned a PhD in Venture Capital Governance from the Department of Industrial Economics at NTNU and completed a Master’s in Engineering from NTNU and ETH Zürich. More recently, he finished an executive master’s in portfolio risk in venture capital and spent a semester as a visiting fellow at MIT Sloan.
Nina joined Skagerak Capital in 2025. She works closely with Skagerak’s portfolio companies, supporting their strategic development through active ownership and board involvement. Nina brings more than 15 years of experience in strategy, business development and transformation. Prior to Skagerak, she helped scale Morrow Batteries from an early-stage start-up to an organisation of more than 200 employees. Earlier, she spent more than a decade as a management consultant at EY.
Tone joined Skagerak Capital in 2020. Her background spans strategy, business development and investment analysis, with a focus on identifying and supporting companies with the potential to scale. She is involved across the investment process, from sourcing and due diligence to active ownership, supporting companies on strategic priorities and operational progress. Before Skagerak Capital, Tone worked as a management consultant. She holds a degree in Industrial Economics and Technology Management, specialising in Mechatronics.
Andreas joined Skagerak Capital in 2016. He focuses on AI and climate tech. In particular companies that leverage AI to improve their offerings significantly and have substantially net positive climate impact, highly correlated with customer value. Prior to joining Skagerak Capital, Andreas worked as a management consultant at EY. He also has hands-on experience from tech startups/scaleups in Norway and Silicon Valley. Andreas works on new investments, business development, internationalization and M&A.
André joined Skagerak in 2007 and has extensive transaction experience within venture. He is hands-on in the active ownership of the portefolio currently with several active board seats within Skagerak’s SaaS portefolio. André has experience as a CFO in scaleup/growth within education and has also worked as a Financial Analyst in the shipping industry.
Espen became a Partner at Maturo Kapital in 2005 and continued at Skagerak Capital following the 2016 merger. With more than 20 years of venture capital experience, he invests in and develops technology and industrial companies. He works across the investment lifecycle, from new investments to active ownership, strategic development, M&A and exits. With extensive board experience, Espen works closely with founders and management teams to build scalable businesses and long-term value. Based in Porsgrunn.
Karoline joined Skagerak Capital in 2023 and works with investments alongside finance, compliance and reporting. She brings relevant experience from previous roles at KLP and Folkeinvest. Karoline is based at our Stavanger office.
Terje Berg-Utby joined Skagerak in 2006. He brings extensive experience in scaling companies that integrate both software and hardware. Before his time at Skagerak, Terje earned a PhD in Venture Capital Governance from the Department of Industrial Economics at NTNU and completed a Master’s in Engineering from NTNU and ETH Zürich. More recently, he finished an executive master’s in portfolio risk in venture capital and spent a semester as a visiting fellow at MIT Sloan.
Nina joined Skagerak Capital in 2025. She works closely with Skagerak’s portfolio companies, supporting their strategic development through active ownership and board involvement. Nina brings more than 15 years of experience in strategy, business development and transformation. Prior to Skagerak, she helped scale Morrow Batteries from an early-stage start-up to an organisation of more than 200 employees. Earlier, she spent more than a decade as a management consultant at EY.
Tone joined Skagerak Capital in 2020. Her background spans strategy, business development and investment analysis, with a focus on identifying and supporting companies with the potential to scale. She is involved across the investment process, from sourcing and due diligence to active ownership, supporting companies on strategic priorities and operational progress. Before Skagerak Capital, Tone worked as a management consultant. She holds a degree in Industrial Economics and Technology Management, specialising in Mechatronics.
Andreas joined Skagerak Capital in 2016. He focuses on AI and climate tech. In particular companies that leverage AI to improve their offerings significantly and have substantially net positive climate impact, highly correlated with customer value. Prior to joining Skagerak Capital, Andreas worked as a management consultant at EY. He also has hands-on experience from tech startups/scaleups in Norway and Silicon Valley. Andreas works on new investments, business development, internationalization and M&A.
André joined Skagerak in 2007 and has extensive transaction experience within venture. He is hands-on in the active ownership of the portefolio currently with several active board seats within Skagerak’s SaaS portefolio. André has experience as a CFO in scaleup/growth within education and has also worked as a Financial Analyst in the shipping industry.
Espen became a Partner at Maturo Kapital in 2005 and continued at Skagerak Capital following the 2016 merger. With more than 20 years of venture capital experience, he invests in and develops technology and industrial companies. He works across the investment lifecycle, from new investments to active ownership, strategic development, M&A and exits. With extensive board experience, Espen works closely with founders and management teams to build scalable businesses and long-term value. Based in Porsgrunn.
Karoline joined Skagerak Capital in 2023 and works with investments alongside finance, compliance and reporting. She brings relevant experience from previous roles at KLP and Folkeinvest. Karoline is based at our Stavanger office.
