Failup Ventures, a Helsinki-based venture capital fund focusing on early-stage investments, has successfully completed the initial €30M closing of its €50M early-stage fund.
The primary investor in this round was Business Finland Venture Capital, backing Failup Ventures’ new initiative.
Co-founder and General Partner of Failup Ventures, Topias Soininen, expressed excitement about the launch, highlighting Failup Ventures as the first Finnish VC fund to establish a significant presence in the United States. He emphasized their global strategy and local networks as key to identifying and supporting promising early-stage teams from the outset.
Soininen also noted that many of Failup Ventures’ earlier investments have garnered subsequent funding from prominent firms such as A16Z, NFX, General Catalyst, and Tiger Global, demonstrating their knack for recognizing and nurturing exceptional teams and their grassroots initiatives.
A Venture Capital Fund with Finnish-American Roots
Founded by Jesse Heikkilä, Topias Soininen, and Oscar Andersin, Failup Ventures is a Finnish venture capital firm specializing in early-stage startup support. The firm typically makes initial investments between €200K and €1M, with potential for larger subsequent investments.
Failup Ventures distinguishes itself through its US presence, offering expansive networks and access to international deals. This global reach enables the firm to support startups in both the Nordic region and the US, drawing interest from various fund investors, including entrepreneurs.
The founders, Heikkilä and Soininen, bring experience from their high-growth startup, Playven, a SaaS company for sports facility management and marketplace, which was acquired by Playtomic. Meanwhile, Andersin contributes his expertise from his time as an Investment Manager at Vencubator, a Helsinki-based startup incubator. Together, they have a collective background in building and investing in nearly 40 startups through previous angel investments.
Co-founder Heikkilä emphasizes the importance of founders collaborating with those who have direct company-building experience and have overcome similar challenges. He expresses enthusiasm for guiding new founders with Failup Ventures, a fund by next-generation investors, and is excited about the support from prominent entrepreneurs as Limited Partners.
Investment Focus Areas of Failup Ventures
Failup Ventures’ fund takes a sector-neutral stance, concentrating on supporting founders dedicated to positively impacting society, work, health, or the environment.
Co-founder Andersin highlights their dedication to backing teams that are creating solutions with significant positive impact, insisting on investing only in teams that resonate with their core values.
“Our initial discussion with the Failup team centered around our fundamental values, our beliefs, and the type of world we aim to help build,” says Andersin.
To date, Failup has invested in three early-stage startups through its fund. These include Foundernest, a Generative AI platform aiding corporations in market analysis and insights; Ever, an online marketplace for electric vehicles; and Vested Health, a venture aiming to revolutionize healthcare.
The investment strategy of Failup Ventures is shaped around themes like the Future of Work, Future of Consumption, Dynamic Marketplaces, Digital Infrastructure, and Commercial Climate Tech. These thematic areas guide the fund in backing startups that are influencing and changing these key sectors.