The fund, which will remain open for new investors until the end of 2020, is backed by institutional investors such as Finnish Industry Investment (Suomen Teollisuussijoitus) and Kasvurahastojen Rahasto III (Fund-of-funds KRR III). Investors also include founders of companies such as Marketing Clinic, Fellow Finance, and Nitor.
Led by partners Jakob Storå, Jussi Pyörre, and Juha Ruohonen, and Investment Manager Kasper Suomalainen, the vehicle will make initial investments sized up to €1M, with typical investments being around €0.4M in Finland and the Baltics, planning to invest in 25 startups over the next 4 years.
The fund targets startups that create competitive advantages by refining data into insight. Its first investments include Lithuanian urban delivery platform Ziticity, which has already expanded to 11 cities across three countries. Superhero also led a round with a group of investors, including Japan’s top football player Keisuke Honda, in the seed investment of Attractive.ai, a user experience startup founded by Finnish serial entrepreneur Kristoffer Lawson.
While their main focus remains on Finland, Superhero will increasingly look for startups in the Baltics. As part of this strategy, Estonia-based serial entrepreneur and angel investor Ivo Remmelg and Latvia-based serial entrepreneur Ernests Stals have joined Superhero Capital as Venture Partners.