The first closure of Leo Capital’s new $27.84 million Nordic Fund, which will invest in about 25 business-to-business (B2B) software businesses, has been announced by the early-stage venture capital firm.
The majority of the funding has come from Business Finland Venture Capital as well as a number of new and returning international investors.
The fund’s goal is to support Nordic entrepreneurs starting in the pre-seed phase. Each startup will get an initial investment between $250,000 and $400,000.
The company has been involved in European startups, including Apica, Atoa, and Eir, since 2021.
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“Our Nordic fund continues Leo Capital’s proven strategy of investing in the most capable, ambitious and resilient founding teams and helping them to successfully scale across borders,” said Henry Goodwin, partner at Leo Capital. “It is these founders that we are looking to partner with, combining their vision and dynamism with our own networks, resources and years of cross-border experience to help supercharge their trajectory and realise their global ambitions.”
Verma claims that great multinational corporations are being founded by Europeans, citing a number of famous success stories including Spotify, Nokia, Zendesk, and Unity.
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The Singapore-based venture business, which was founded in 2018 by Rajul Garg and Shwetank Verma, now manages three APAC funds that invest in seed and pre-Series A stage technology startups. It has over sixty early-stage startups in its portfolio.
About Leo Capital
Leo Capital is a venture capital fund that mostly invests in India in early-stage technology-focused businesses. They make investments in pre-Series A or early seed rounds ranging from $500K to $2M. The goal is to make investments in expansive areas where technology generates value. It seek out teams that are tenacious, have dedicated time and resources to comprehending the complexities, and have a well-defined plan for how they will go about growing the company.
