ByFounders is a Nordic fund, investing into both Nordic and Baltic startups. They’re focusing on being a founder-friendly fund that the founders, and their term sheet is available on their website. For example they invest into common shares instead of preferred ones and with limited downside protection, similar to founders themselves.
They invest mostly into software companies, but have also invested into hardware-only companies in exceptionally strong cases. They’re industry agnostic, but have a preference for impact.
The founders of the fund have a background in building, growing and selling tech companies, with experience from companies like Skype and Tradeshift. Their investors include founders from many other very successful tech companies as well, such as ZenDesk, Vivino and TrustPilot, supporting portfolio companies.
The companies they invest into don’t have to be located in Nordics or Baltics, but a strong connection (such as founder being originally from the New Nordics) is required.
Ticket size: €200k-€5,000k, sweet spot €1,500k, maximum allocation with follow-on investments €7,000k per company