Helsinki’s poised to close fund at €100M, key focus will be sustainability, deeptech – TechCrunch

by Msnbctv news staff

Helsinki-based VC is poised to achieve the ultimate shut of its second fund at €100 million, with the goal to put money into seed-stage startups throughout Europe.

The primary investments from the brand new fund embrace UK-based Baseimmune (antigen discovery and vaccine design), Volare (Foodtech), and PixieRay (adaptive eyeglasses).’s preliminary ticket sizes vary from €250,000 to €3 million. The VC’s first €80M fund invested in sustainable textile fiber producer Spinnova, quantum computing workforce IQM, and Oatly’s accomplice for carbon labeling, CarbonCloud.

In a press release,’s Founding Companion Ilkka Kivimäki stated: “Inside the deep tech and brand-driven focus, we’ve got no trade or geographical restrictions, however as an alternative we search for relentless founders. Widespread to essentially the most superior applied sciences and most fascinating manufacturers is their capacity to strategy the world’s best challenges in unconventional methods.”

In an interview with TechCrunch Kivimäki added: “We’ve 77 investments already within the new fund. So up and operating and hitting the bottom operating.”

Is there a change in technique?

“Really, little or no,” he stated. “We have been already speaking concerning the sustainability side. I believe that that’s going to many extra new supplies, new processes, together with the entire meals tech stuff. And we’re positively not shying away from {hardware} and complicated issues. We have been preliminary buyers in IQM which is the quantum pc. We have been the one enterprise investor in an organization known as Spinnova which is making yarn from wooden fibers.”

The brand new fund is backed by 70+ LPs comprising of exited entrepreneurs and company executives, together with Sensible co-founder Taavet Hinrikus and Teleport co-founder Sten Tamkivi, Supercell co-founder & CEO Ilkka Paananen, Wolt co-founders Oskari Petas and Mika Matikainen, Small Large Video games chair of the board Timo
Soininen, chair of the board at Ensto Marjo Miettinen and Significantly CEO & co-founder Petri Järvilehto.

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