Farukh Kitchlew | Feb 19, 2024 | 0
Failup Ventures Secures €30 Million for Early-Stage Fund
Failup Ventures, a newly established global early-stage venture capital fund, has announced the successful first closing of €30 million for its new fund, which has a target size of €50 million. Business Finland Venture Capital Oy, as the lead investor, anchors Failup Ventures with substantial support. Their LPs (Limited Partners) include some of the world’s most successful startup founders. Additionally, several unicorn founders were among them.
Founded by three former Finnish entrepreneurs—Jesse Heikkilä, Topias Soininen, and Oscar Andersin—Failup Ventures is dedicated to supporting early-stage startups. They specifically focus on those with robust, mission-driven teams. The fund typically makes initial investments ranging from €200,000 to €1 million.
Topias Soininen, co-founder and General Partner at Failup Ventures, commented:
“We are thrilled to launch Failup Ventures as the first-ever Finnish VC fund to have its core foothold in the US as well. Our global approach and grassroots networks enable us to identify truly promising early-stage teams and support them from the start. Many of our previous investments have received follow-on investments from renowned firms like A16Z, NFX, General Catalyst, and Tiger Global. This is a testimony to our understanding of truly brilliant teams and efforts in grassroots work.”
With a strong presence in North America, Failup Ventures leverages extensive networks, international deal flow, and access to prominent cases both locally and abroad. This positioning enables the team to identify and support promising startups not only in the Nordics but also in the United States.
Already demonstrating active investment, Failup Ventures has made three commitments to early-stage teams using its €30 million fund. As it progresses toward its €50 million target, Failup Ventures remains dedicated to nurturing innovative startups with transformative potential, aligning with its mission to propel entrepreneurial success on a global scale.
Jesse Heikkilä, co-founder and General Partner at Failup Ventures shared:
“We have seen that founders prefer to work with individuals who have firsthand experience in building a company and have faced similar challenges in the past. And that’s exactly what we’ve done before founding Failup. We are excited to pave the way for next-generation founders with our fund by next-generation investors, and thrilled to have some of the brightest entrepreneurs backing us as Limited Partners.”