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Helsinki’s to close € 100m fund, focus will be on sustainability, deeptech – TechCrunch

Helsinki-based VC is close to reaching final close of its second € 100 million fund, with the aim of investing in early stage startups across Europe.

The new fund’s first investments include UK-based Baseimmune (antigen discovery and vaccine design), Volare (Foodtech) and PixieRay (adaptive glasses).

The initial size of tickets ranges from € 250,000 to € 3 million. VC’s first € 80 million fund invested in sustainable textile fiber producer Spinnova, quantum computing team IQM and Oatly’s carbon labeling partner, CarbonCloud.

In a statement, founding partner Ilkka Kivimäki said, “As part of the in-depth technology and brand-centric focus, we don’t have any industry or geographic restrictions, but instead we are looking for relentless founders. What all the most advanced technologies and the most compelling brands have in common is their ability to tackle the world’s biggest challenges in unconventional ways.

In an interview with TechCrunch, Kivimäki added: “We already have 77 investments in the new fund. So operational and operational.

Is there a change in strategy?

“In fact, very little,” he said. “We were already talking about the sustainability aspect. I think it goes to a lot more new materials, new processes, including all the food tech stuff. And we are certainly not afraid of hardware and complex things. We were the first investors in IQM, the quantum computer. We were the only venture capitalist in a company called Spinnova which makes yarn from wood fibers. “

The new fund is backed by more than 70 LPs comprising of previously released entrepreneurs and business leaders, including Wise co-founder Taavet Hinrikus and Teleport co-founder Sten Tamkivi, Supercell Ilkka co-founder and CEO Paananen, the co-founders of Wolt Oskari Petas and Mika Matikainen, Timo, chairman of the board of directors of Small Giant Games
Soininen, chairman of the board of directors of Ensto Marjo Miettinen and the CEO and co-founder of Seriously Petri Järvilehto.

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