Vendep Capital launches third fund to back SaaS startups in the Nordics and the Baltics
Vendep Capital, an investor specialised in early stage B2B Software as a Service (SaaS) companies, has launched its third fund. The first close totaled EUR 40 million. The firm now expands to all Nordic and Baltic countries, having previously focused on Finland and Estonia.
The fund looks to invest into 15-20 early-stage startups over its four-year investment period. The fund commitments come from prominent Finnish institutional investors such as Elo, and OP Financial Group in addition to Tesi and KRR IV fund-of-funds. Vendep expects the fund size to still increase significantly.
“Encouraged by Vendep Capital’s track record with its earlier funds and by its specialized investment focus on the growing SaaS sector, we wanted to continue as an investor in this third fund”, says Riitta Jääskeläinen, Investment Director at Tesi.
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Additional information:
Riitta Jääskeläinen, Investment Director, Fund Investments, Tesi
+358 50 309 2733
riitta.jaaskelainen@tesi.fi
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 1.9 billion euros. www.tesi.fi | @TesiFII
