Tera Ventures

Tera Ventures specializes in early stage deep tech software companies. They’re often the first institutional investor, helping to get other professional investors in for bigger funding rounds.

They prefer B2B companies, but are willing to consider B2B2C ones as well. They can consider investing into hardware-software companies if the value is mainly in the software side. They’re fine with health tech.

They look to have a board seat in the companies they invest in. They commonly syndicate so that they’re the lead investor.

They can be reached at tera@tera.vc.

Revo Capital

Revo Capital invests into developing East-European markets. Traction is required and B2B is preferred, but B2C is also ok.

They often look for a board seat. Their home market is in Turkey.

They consider themselves active helpers of their companies, especially in expanding beyond the home market. Founders of the fund have C-level background in the largest Turkish telecom.

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.

M&M Growth Partners

They do VC tickets of €100k-500k, and growth tickets €200k-5M. They invest only in software with an emphasis on B2B and deep tech. Traction and sales are required, preference for over €500k ARR.

Preferred contact point is contact@mmgp.fi.

Insta Ventures

Prefer B2B, certain B2C niches are also interesting. Prefer cases with over €15k monthly revenue.

Only co-invest in rounds that already have a lead investor. Majority of deals (70%) from Nordics and Baltics, especially Finland, Sweden, Estonia and Lithuania so far. 15% from Central and Eastern Europe and 15% elsewhere from the world.

Does not invest in mobile gaming or hardware. Hardware-enabled software is interesting.

 

bValue

Focus on B2B, especially light-touch sales model SaaS for SMEs. B2C, B2B to large enterprises and B2G are also possible in strong cases.

Geographically focus is on CEE, but elsewhere in EU is also possible. Non-EU companies are investable if they establish an office in EU.

Focus on software and valuations below €20M, but occasionally invests in hardware, or especially strong cases with higher valuations.

Active investor. Normally doesn’t take a board seat.

Presto Ventures

Presto Ventures is a Czech family office. They prefer B2B companies, but can also invest in B2C with good unit economics.

Family office of Skoda transportation company’s ex-owner. Heavy machinery is a special expertise area. Fund preference is for not too capital-intensive companies.