Helsinki’s to Close Fund at EUR100M. The key focus of the fund will be sustainability and deeptech

The Helsinki-based VC will close its second fund at EUR100m. This money is used to invest in seed stage startups throughout Europe.

Baseimmune, a UK-based company that specializes in vaccine design and antigen discovery, Volare (Foodtech) and PixieRay are the first to be invested from this new fund. has an initial ticket size of EUR250,000 to EUR3 Million. The first EUR80M fund was invested by the VC in Spinnova textile producer, Quantum Computing team IQM and Oatly’s partner for carbon Labeling, CarbonCloud. Founding Partner Ilkka Kiivimaki stated in a statement that she is not restricted by geography or industry. Instead, they are looking for unrelenting founders. The most common trait of the best brands and the most innovative technologies is the ability to tackle the greatest problems in a unique way.

Kivimaki stated in an interview with TechCrunch: “We have already made 77 investments in this new fund. It’s up and running, and it is hitting the ground running.”

Are there any changes in strategy?

He said, “Actually very little.” We were already discussing the sustainability aspects. That will lead to more innovative materials and new processes. We are not afraid to use complex hardware. We are the original investors in IQM, which was the quantum computer. Spinnova, a yarn company made from wood fibers, was our only venture investment.

This new fund has 70+ LPs that include exited executives such as Taavet Hinrikus, Teleport cofounder Sten Tamkivi and Supercell cofounder Ilkka Pananen, Wolt cofounders Mika Matikainen and Oskari Peas, Small Giant Games chairman of the board Timo

Soininen is the chairperson of Ensto Marjo Miettinen’s board and Really CEO & cofounder Petri Jarvilehto.

Publiated at Tue 14 Sep 2021, 09:02:05 +0000

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