Impact investment fund by a group of angels. FIIL = Finnish Impact Investment Limited (Vaikuttavuussijoitus in Finnish). Investments have to fulfill UN SDG (sustainable development goals) criteria.
All members are active angel investors, who see themselves more as co-founders than just financial investors.
Prefer companies with traction and product-market fit (or very close). Occasionally also do pre-revenue investments.
MVP with traction (seed): €50k-200k, rounds €50k-€400k. Valuations below €2M.
Pre-seed (idea testing stage) €5k-20k, rounds max. €50k.
When lead investing, they take board chairperson position. When co-investing, prefer board membership.
Ticket size: €5k-€200k, sweet spot €100k, maximum allocation with follow-on investments €3,000k per company