Today, Failup Ventures, a newly established early-stage venture capital fund, made an exciting announcement. They have completed the initial closing of their first fund, securing a whopping €30 million out of the total €50 million.
The team behind Failup Ventures is none other than three successful Finnish entrepreneurs – Jesse Heikkilä, Topias Soininen, and Oscar Andersin. Their mission is to support early-stage startups with promising, mission-driven teams by providing initial investments ranging from €200,000 to €1 million.
What sets Failup Ventures apart is its strong presence in North America. With extensive networks, an international deal flow, and access to top cases both locally and across the pond, the team is well-positioned to identify and support promising startups in both the Nordics and the US.
Anchoring the new fund is Business Finland Venture Capital Oy, and the list of limited partners includes some of the world’s most successful startup founders, including several unicorn founders.
Topias Soininen, co-founder and General Partner at Failup Ventures, expressed his excitement about the launch, stating that they are the first Finnish VC fund to have its primary focus in the US.
Jesse Heikkilä, co-founder and General Partner, emphasized the team’s firsthand experience in building a company and facing similar challenges, which founders prefer when choosing investors to work with.
The team has already made three investments into early-stage teams from its fund, and they are aiming for a total fund size of €50 million.
Overall, the establishment of Failup Ventures signals a new player entering the venture capital arena, with a unique position and approach that sets them apart from the crowd. It will be interesting to see how they continue to make an impact in the global startup ecosystem.
Do you have any thoughts on this exciting development in the world of venture capital? Feel free to share your comments below!
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