Arvu Capital
The North Cape at midnight

a privately held Norwegian investment company

71°10′21″ NWhere is this?

The sun in this photograph is not setting. It is midnight at the North Cape, on the coast of Finnmark in Sápmi, Norway — regarded as the northernmost point of Europe, where the sun stays above the horizon 24 hours a day, from 14 May to 29 July.

The name Árvu has its roots here. A Northern Sámi word meaning value or worth, it also carries associations of esteem and respect — a reminder that true value extends beyond price.

Inspired by a perspective that values generations over quarters, the name reflects our shared investment philosophy: to recognise value others may overlook, and to nurture it with patience and a long‑term perspective.

About Arvu

Arvu Capital AS is a privately held Norwegian investment company. Founded by Johan Mathis Somby and Tommy Sundt, Arvu follows a disciplined, research‑driven investment philosophy based on fundamental analysis and long‑term ownership.

The company invests across private and public markets, with a particular focus on the energy transition and on opportunities where its owners’ experience, sector knowledge and long‑term perspective can contribute to value creation.

We hold a concentrated portfolio with a long‑term investment horizon. Our approach combines operational experience from managing, financing and restructuring companies with financial modelling and quantitative analysis.

Árvu is a Northern Sámi word meaning value — not simply price, but true worth. Johan is Sámi, and Sámi is his first language. Rooted in a culture that values generations over quarters, the name reflects our philosophy: to recognise value others may overlook and nurture it with patience. We chose the name together because we share the same ambition: to build lasting value through a shared vision and long‑term commitment.

Who we are

A friendship, a question, and a company built on both.

Johan Mathis Somby and Tommy Sundt, who met at the Norwegian School of Economics in August 1992 and have been friends ever since.

Both read the same degree — the master's in economics and business administration, specialising in financial economics with business analysis and performance management — and both completed it in 1996. They wrote their thesis together, on the valuation of Tomra Systems ASA: an accidental but exact beginning, since the question it asks is still our question: what a company is truly worth, on the evidence — and where that worth is yet to be recognised.

The two of us

Johan Mathis Somby

Johan Mathis Somby

Founder and chief executive

Founder and chief executive of Arvu Capital AS and of Bysom AS, which holds fifty per cent of it. MSc in economics and business administration from the Norwegian School of Economics, 1992–1996; the thesis he wrote with his co‑founder was a valuation of Tomra Systems ASA.

He has been CFO and managing director of family‑owned holding companies with subsidiaries in shipping, real estate and securities, and of large investment syndicates. The work covers group consolidation and annual accounts, securities accounting and valuation, tax and VAT including the Norwegian tonnage tax regime, regulatory capital reporting for a licensed investment firm, and equity transactions — mergers, demergers, capital changes and liquidations.

He works in quantitative finance — derivatives and risk modelling — and directly in the data. He designed and built the group's web‑based, SQL‑driven portfolio management system for securities and loans, and uses Python, SQL and Git to automate financial processes and analysis.

LinkedIn

Tommy Sundt

Tommy Sundt

Founder and director

Founder and director of Arvu Capital AS, and founder and chief executive of Tomsun Invest AS, which holds the other fifty per cent. MSc in economics and business administration from the Norwegian School of Economics, 1992–1996, from the same programme, and co‑author of the same thesis.

He is commercially and financially oriented, with experience from oil and gas, technology, finance and entrepreneurial work. He was chief executive of a listed oil and gas company through its financial crisis, where NOK 3.2 billion of bond debt was restructured, costs were cut and several strategic processes concluded. Ten years as CFO of another listed oil and gas company; five years with an entrepreneurial and business development company, six with an investment company, and two as an auditor.

The work covers restructuring and change management, M&A and corporate finance including equity and debt financing, transaction and contract negotiation, strategy processes, investor relations, investment management and board roles.

LinkedIn

Two owners, equal halves — every decision is one we both believe in.

Investments

Our largest investment — and why we believe in it.

Cindrigo

Cindrigo Holdings Ltd

Cindrigo Holdings Ltd is a London‑listed sustainable energy developer (LSE: CINH), with a portfolio of projects supporting Europe's transition to a secure, affordable and sustainable energy future: an integrated biomass operation in Finland and three geothermal licences in Germany.

In Germany the licences — Eich, Worms and Weinheim, in the Upper Rhine Valley — cover approximately 125 km². Cindrigo holds an 85 per cent interest alongside Zukunft Geowärme GmbH, a German geothermal project developer, which holds the remaining 15 per cent. Cindrigo believes the three licences have the potential to support over 400 MW of district heating and electricity generation, together with lithium extraction from the geothermal brine.

In Finland the biomass operation pairs planned downstream heat generation with upstream production through Fuelwood, a jointly developed sustainable wood pellet business targeting an initial capacity of some 80,000 tonnes a year and approximately 400,000 tonnes in the long term. Further energy projects and licences are under evaluation.

The owners of Arvu Capital have been shareholders in Cindrigo since summer 2020.

Why we hold it

We invested in Cindrigo because we believe in clean energy — and in the particular kind Cindrigo is building. Geothermal heat and power from deep underground, and heat and power from sustainable biomass, are renewable, low‑carbon and, above all, continuous: they keep homes warm and lights on around the clock, in every season, whatever the weather. That makes them one of the most valuable parts of Europe’s transition to a cleaner energy future. We believe Cindrigo will deliver that energy, and we believe in the company and the people leading it. The work between a licence and a producing well takes time and capital — exactly the kind of value that rewards a patient, long‑term owner. We have held the position since 2020 and followed every licence and financing round. Our conviction rests on what we have watched them build, and on the team building it.

Further information about Cindrigo

Nothing on this page is an offer to sell or a solicitation to buy any security, or investment advice. Holdings are stated as at the date of publication and are not updated continuously.

Contact

We would be glad to hear from you.

Write to us directly — we read every message and reply personally.

Company Name
Arvu Capital AS
Incorporated in Norway
Registered No. 937 716 303
Ownership
Bysom AS (50 %) and Tomsun Invest AS (50 %)
Johan Mathis Somby
Co‑founder and director · johan@arvucapital.no
Tommy Sundt
Co‑founder and director · tommy@arvucapital.no