Accelerace VC invests into very early stage Nordic-Baltic tech startups. They’re agnostic regarding industry and many other factors. Their value-add includes supporting founders not just by their investment managers, but also by the alumni of their portfolio companies.
Tech type: Deep tech
SGS is a Swiss inspection company with worldwide operations. They seek startups to collaborate with and/or buy, which could help their inspection operations.
They’re especially interested in AI, machine vision, target recognition, IoT (e.g. humidity measurements), 3D mapping of bulk cargo, 3D modeling of buildings and construction sites, safety regulation management software – in general anything that helps make inspections faster, with lower manpower costs, and with more evidence of what was inspected.
Farvatn Venture is a Norwegian family office, investing into ocean, renewable energy and life science solutions. The team has extensive experience in all of these areas. They seek gender-balanced management teams.
They don’t usually take a board seat. They’re typically a co-investor.
The management team:
OBOS is the largest housing provider company in Norway, investing into startups related to their areas of operational excellence: real estate and construction. They can be either an investor, a client, or both for a startup.
They seek software startups, but don’t mind them using hardware assets. Marketplace companies can also be interesting if there’s an especially well-demonstrated product-market fit. Even though Norway and Sweden are their home market, their startup investments tend to be to companies that are internationally scalable.
They prefer to invest into startups that have some traction, ideally already some customers lined up.
They haven’t been interested in blockchain startups due to their low levels of success so far.
Most often they invest as part of a syndicate. They usually do not lead the investment rounds to avoid creating too much dependency, typically being already a client and an investor.
Their typical ownership stake in a portfolio company is 5-10%.
They also have a separate team making later stage investments. They sometimes describe their investments range as “From startup to stock exchange.”
Verge HealthTech Fund invests globally into startups building global next-generation health solutions. They seek health tech companies with commercial or at least clinical validation.
The fund’s partners are health tech founders and operators, with experience in building and scaling companies internationally.
As a global fund, they prefer to partner with local partners on investments, either as a lead or follow investor, but they have also made solo investments as well.
They typically seek a board or at least a board observer seat.
Health Founders is the first health tech accelerator in the Baltics, based in Estonia. Their digital-first acceleration program for early-stage startups focuses on helping health tech companies to grow sales, work with the regulatory framework, and everything health-specific about building a business. They seek non-invasive health tech companies with at least a demo version of their solution.
They run 1-2 batches per year, each ending with a demo day for investors and potential clients.
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.
Tikura Ventures is the angel fund of Antti Pellinen from Finland. He has been building and investing into ventures in multiple sectors, with a focus on B2B solutions, both industrial and otherwise. He has invested in both hardware and software companies.
His focus is on Nordics and Baltics. Startups from elsewhere can be interesting as well in exceptional cases.
DYNAX Invest is a angel syndicate from Bulgaria that focuses on supporting selected startups through investments, fundraising the rest of the funding round and advisory. They focus on European startups, and have done especially many investments in the CEE region.
They are industry-agnostic. Having a tech element is a plus, but not mandatory. They have a strong preference for startups with traction, either revenue or otherwise. In expectional cases, for example a deep tech startup, could be interesting also before traction.
Their team has extensive experience with M&A and investment banking, including fundraising.
They can help find a lead investor, but are not leading rounds themselves. They normally don’t seek a board seat.
Curiosity VC invests into AI/ML companies in the Nordics, Baltics and Benelux countries.
They are a community-driven fund, sharing a part of the carry with the companies they invest in.
They prefer companies to seek a runway of at least 18 months.
They have a group of LPs co-investing with them during follow-on investment rounds.
* AI = Artificial intelligence
* ML = Machine learning
* Carry = Carried interest = The profits a fund generates at the end of its cycle
* LP = Limited partner (investor in a fund)