Red Brick Accelerator

Red Brick Accelerator is held twice a year in Tampere, Finland. Teams must attend onsite for the 12 weeks of the program. Autumn batch starts in October. Current information on application period is preliminary.

Notion Capital

Notion Capital is a B2B SaaS & cloud fund. They also invest into B2B2C and B2G IT solutions. Hardware is ok as a distribution method, but value has to be focused in the software.

They often invest when MRR is 50k – 200k, but revenue is not as relevant as evidence of demand (significant pain it addresses), knowing the ideal customer profile, having a distribution channel that works. They then come in to help open new distribution channels, hire talent and scale the operations. 20 people team, 10 investing and 10 in the “platform team” working closely with the founders. Helping decide who to hire, how to price, best ways to enter market and measure success.

Most of their tickets are 3-7M. They’re interested in talking already a bit outside this range, and occasionally make exceptions to the ticket size. They may also invite founders to events even if they’re a bit outside their ticket range, especially cases that are a bit earlier stage.

They’re looking to follow on at least once, more for good performers, all the way through to exit (IPO or acquisition). They often lead rounds and are ideally looking for 12.5% or more.

Boost Turku Startup Journey

Startup Journey by Boost Turku is a free early-stage acceleration program: no charges, no equity taken. Next batch is digital. Earlier ones have been onsite in Turku, Finland, and upcoming ones may be physical with digital participation possibly an option. Most selected teams will be from Turku region in Finland as the organization’s mission is to support the local ecosystem.

They select teams (not solo founders) that have done at least some work already on the idea, e.g. competitor identification and evaluation. Teams have to be able to clearly state their solution that has some competitive advantage.

The goal of the program is to help you develop your concept and get you towards first revenue.

Their community page with mentors etc. can be found at


ValueTech seed fund is focused on transformative technologies that benefit multiple types of industries, such as solutions in energy, cybersecurity and manufacturing.

Investment companies have to have a Polish legal entity, but don’t need to move entirely to Poland. They’re often the lead investor.

They’re happy to serve on a supervisory board, but not get actively involved with company management.

Startup Wise Guys

They have three main programs: B2B (SaaS), Cyber Security, Fintech, and a pre-accelerator for idea stage companies. The applications are ongoing, but the programs are done in batches.

Strong focus on B2B. B2B2C is possible if it’s B2B focused. B2G is possible in especially strong cases. They invest in software and marketplaces. Hardware is ok, as long as the main value in the software side.

Main acceleration programs take companies from proof-of-concept stage onwards. Idea stage companies can apply into the pre-acceleration program.

Initial ticket almost always solo, follow-on is a co-investment with possibility to lead.



K Fund

K Fund is based in Spain, investing especially in Spain but also elsewhere in Europe, Israel and Russia.

They’re the lead investor in most of their cases.


Inovo Venture Partners

Software-focused, but do other investments as well. Especial expertise in B2B, both enterprises and SMEs, and SaaS or marketplace business models.

Geographically focused in Central Eastern Europe (80%), with a mandate to invest anywhere (20%). Often a co-investor, but do lead and solo investments as well.

Lagoon Capital

Investment company of Ari Korhonen, one of the longest-standing angel investors in Finland. Invests into software companies. His sweet spot for initial tickets is €50-100k, other sizes are doable on a case-by-case basis.

Ari grew his original company Komartek to an internationally successful one, sold it to WM-data in in 2004, and served as a Vice President of WM-data. WM-data is nowadays known as CGI.

Within the last 14 years, Ari has made angel investments in 39 companies. In those he has participated totally to 128 investment rounds. The companies invested in include MariaDB, DealDash, Klevu, Miradore and Sympa. Of these investments, he has had six successful exits; Small Giant Games, Severa, Paytrail, Octo3, In4mo and The Switch.

Ari is also an investor in venture capital and buyout funds which include Seedcamp, 500 Startups, True Global Ventures, Spintop Ventures, Evli Growth Partners and KJK Capital. Of these investments, he has had one successful exit; Seedcamp fund II. In Spintop Ventures he is also a Senior Advisor and in Evli Growth Partners a Growth Partner. Ari is also Advisory Board member in Finnish Industry Investments (Tesi) and LUT University.

Ari was elected by FiBAN (Finish Business Angels Network) as Business Angel of the Year in Finland in 2014. He is a co-founder and honorary member of FiBAN and Vice Chairman of the Board during 2010-2012. Ari has been an EBAN (European Business Angels Network) board member and Vice-President during 2012-2016. He was awarded EBAN Lifetime Achievement Award in 2015. He is also an active member in many international business angel networks, like EstBAN, NordicBAN, Global Super Angels Club, etc… Ari has been featured by EU-Startups as one of the top 40 of Europe’s most active and most influential angel investors.

Ari was awarded Honorary Doctorate in Economics and Business Administration by LUT University in 2017. He holds a Master of Science degree in engineering from LUT University.

Innovation Nest

Focusing on B2B software, especially SaaS. Very B2B-oriented forms of B2B2C can also be interesting.

Prefer at least €10k MRR. For exceptional founders, exceptions can be made.

Geographically they focus on EEA + Switzerland + UK. They prefer to invest in syndicates as a lead or co-investor.