Finnish Investor Vendep Capital’s 70M€ fund to feed the best early-stage SaaS startups

Espoo-based SaaS Investor Vendep Capital had its final closure landing in 70M€ including European Investment Fund‘s 25 million euro investment. The company has been backing the early-stage software entrepreneurs for quite a while. This last fund will now allow the company to expand and invest in about 20 early-stage SaaS startups from the Nordics and Baltics.

Vendep Capital closes Fund III at EUR 70M target size

Helsinki, Finland — February 15, 2022 — European Investment Fund (EIF) made a EUR 25M investment in this final close. In addition to EIF, Fund III investors include such prominent Finnish institutional investors as Tesi and KRR IV (fund-of-funds), Elo Mutual Pension Insurance Company, OP Financial Group, and a number of foundations, family offices and private investment companies.

With the track records of its earlier funds, Vendep Capital has established itself as the early-stage B2B SaaS specialist investor. This third fund will accelerate Vendep’s expansion from Finland and Estonia into the Nordic and Baltic SaaS markets.Vendep’s portfolio companies see great value in having a SaaS business model specialist as a backer.

“We have benefited tremendously from having a SaaS specialist fund as an investor.” says Nora Huovila, Co-Founder and CEO of Videoly, in which Vendep Capital invested in 2020, and further states. “The strategic challenges of extremely fast-developing SaaS businesses are very specific – but somewhat similar across SaaS companies. A specialized investor can add value from their own experience and also by cross-linking companies with each other.”

Focus on seed-stage B2B SaaS companies in the Nordics and Baltics

As the SaaS market is growing rapidly, the fund looks to invest EUR 0.1 – 3M as initial tickets in up to 20 early-stage startups over its investment period of four years. EUR 70M fund size allows Vendep to be in a significant role also in the follow-on rounds. The fund has made its first three investments – two in Finland and one in Sweden.

“The SaaS market is thriving, and with the new fund we continue to increase our presence in the Nordic and Baltic markets, as well as support our brilliant entrepreneurs through their initial rounds.” states Jupe Arala, General Partner at Vendep Capital.

Vendep Capital is a B2B SaaS specialist VC operating in Nordics and Baltics. The company invests in the best early-stage software entrepreneurs. Its first ticket is 0.1–3M euros depending on the company’s stage. Additionally, Vendep Capital supports the brilliant startup founders by leveraging its extensive SaaS expertise and global networks to expedite their growth.

The European Investment Fund is a specialist provider of risk finance to benefit small and medium-sized enterprises (SME) across Europe. The EUR 25M investment for Vendep Fund III was derived from Pan-European Guarantee Fund.

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