From Stockholm to the world: Moving money with meaning
Acumen board member Cristina Ljungberg discusses her philanthropic journey and the rise of philanthropy in Sweden.
- Blog
- All impact sectors
- Europe
From her home in Stockholm, Cristina Ljungberg has spent the past two decades channeling her capital and curiosity into bold solutions for women and girls. As a founder of The Case for Her and Giving Wings and a founding member and co-chair of the Maverick Collective, she focuses on moving capital where it can create the greatest impact. A longtime Acumen Partner and board member, Cristina and her husband Jonah support Acumen as unrestricted donors, helping drive capital where it’s needed most.
In this Q&A, Cristina shares the values that guide her giving, why Acumen remains her greatest learning partner, and what it takes to build a culture of philanthropy in the Nordics and beyond.
You’ve described philanthropy as “an invitation to help solve some of the world’s injustices.” What first drew you to this work? How has your view of giving evolved over time?
When Johan and I were entering our thirties and reflecting on how we wanted to show up in the world, we realized that the earlier we began our philanthropic journey, the more likely we would be to witness the impact of our giving. I wanted to learn, to be intentional, and so I joined The Philanthropy Workshop (TPW). In one of our very first sessions, we read Bill Gates’s Harvard commencement speech, where he described the chance to take on some of the world’s greatest inequities as the journey of a lifetime. That idea gripped me, and I knew I was all in.
Now, after two decades of this work, I continue to challenge myself: How can my capital be the most catalytic capital at the table? How can I make sure it stretches impact as far as possible? Over time, I’ve come to understand the particular “superpower” of the resources I have: to move quickly, be flexible, and take on risks that others can’t. That’s where philanthropy shines. Using it to de-risk follow-on capital — to unlock even greater flows of funding — is to me one of the most brilliant and powerful ways to create change.
What led you to become a partner and then a board member at Acumen? What about the organization resonates most with you?
The best advice I received early on was to align myself with an organization I could trust was doing world-class work, and then use that relationship as a way to learn. Acumen was that first deep dive into philanthropy. From the very beginning, they invested in me. They shaped me as a blended finance investor, helping me understand how philanthropy, impact funding, and venture capital could work together to drive change. Acumen has been a true learning partner, and they remain the philanthropic backbone for all the work I do beyond them.
Early on, Johan and I were anchor donors to Acumen’s original education portfolio, followed by years of supporting both the global and local Fellows programs. Today, we’ve shifted to becoming unrestricted donors because we’ve come to see that this is the most valuable form of capital we can provide. It gives Acumen the flexibility to move where the need is greatest, and that’s exactly how we want to show up.
Serving first on the advisory council and now on the board feels like a natural continuation of that journey — a chance to keep learning while also contributing. And just as important, the Acumen community itself has become a place where I can engage deeply, be challenged, and show up fully.
You’ve spoken about the need for stronger networks and infrastructure for philanthropy in Sweden. In your view, what role can Europe, and the Nordics in particular, play in addressing today’s biggest social challenges? What would a more supportive and collaborative philanthropic ecosystem in the region look like?
Sweden is a global leader in many areas — from innovation to technology — but when it comes to philanthropy, we are far behind. Historically, our strong social systems and legal structures left little room or perceived need for private philanthropy. But that’s no longer the case. Today, it’s easy to establish a foundation, and there is no shortage of capital. In fact, Sweden has more billionaires per capita than the U.S.
What we lack is the infrastructure: the networks, advisory capacity, and support systems that can help individuals and foundations engage in philanthropy with confidence and effectiveness. That gap is holding us back. But I believe this is ripe for change. We are beginning to see movement toward building the structures we’ve been missing, and with the right energy and collaboration, Europe, and the Nordics in particular, can play a powerful role in addressing the world’s most urgent challenges.
For others considering how to use their wealth for good, what advice would you offer?
The best advice I can share comes from Jacqueline Novogratz: “Just start, and let the work teach you.” That has certainly been true for me, especially in partnership with a bold, systems-changing organization like Acumen.
I also believe deeply in the power of proximity. Get close to the work. Stay curious. As donors, our role is to trust those on the ground who are solving some of the world’s greatest challenges, while remaining humble about what we can and cannot understand from a distance. And don’t be afraid of failure. It’s inevitable, and it’s one of the most powerful ways to learn. Sometimes, if the work feels hard, it’s simply because it is hard. That doesn’t mean we should step back. It means we’re exactly where we’re supposed to be.
We like to know fun tidbits about our community. Tell us, what are you currently reading, listening, and watching?
Right now, I’m reading “The Big We” by Hali Lee and “A Different Kind of Power” by Jacinda Ardern. Both are powerful reminders of leadership rooted in connection and possibility.
I’ve also been captivated by film lately. The Cycle of Love (2025), directed by Orlando von Einsiedel, tells the extraordinary story of PK Mahanandia, a Delhi street artist who, in 1977, bicycled 6,000 miles to reunite with the woman he loved. It’s a crazy, wonderful love story that stayed with me long after watching.
And perhaps the most beautiful film I’ve ever seen is Gaucho Gaucho (2024), a breathtaking celebration of the Argentine gauchos, communities of cowboys and cowgirls living beyond the boundaries of the modern world.
More from our Knowledge Hub
Embracing the S-word: How smart subsidies can spark innovation in emerging markets
When designed well, subsidies can accelerate innovation, fix broken markets, and pull tomorrow’s solutions forward.
