Helsinki-based venture capital firm Maki.vc has launched its third fund of €100M to invest in pre-seed and seed-stage startups across the Nordics and Northern Europe.
Focused on the Nordic region, the fund leverages deep tech expertise and a supportive public investment landscape.
Backed by over 50 limited partners—including leaders from Skype, Wise, RELEX Solutions, WithSecure (formerly F-Secure), Aiven, and Supercell—the fund aims to draw on their experience in scaling tech companies.
Maki.vc has also built a global network of advisors to provide portfolio startups with hands-on support in recruiting, branding, and funding.
Aim of the new fund
Maki.vc’s new fund is an Article 8 fund focused on startups that promote environmental and social objectives, with investments aimed at pre-seed and seed-stage companies.
Pauliina Martikainen, Partner at Maki.vc, says, “The Nordics represent one of the most significant startup funding regions in Europe, and we believe that investment opportunities here are greater than ever.”
“This unique ecosystem blends cutting-edge R&D, strong industry collaborations, deep tech expertise, and a proven track record of entrepreneurial success, making it the ideal launchpad for tech companies to achieve meaningful global impact.”
The fund has already made seven investments, including Distance Technologies, QMill and Ever Cars.
Initial investments range from €300K to €3M, with selective follow-on funding. Previous funds from Maki.vc supported companies like Spinnova, which went public in 2021, and saw exits such as Ultimate (acquired by Zendesk) and Revela (acquired by Oddity).
The portfolio also features companies like IQM in quantum tech, Onego Bio (animal-free egg whites), Strise (AI-driven AML), Enfuce (payment solutions), and CardioSignal (smartphone heart disease detection).
Brief about Maki.vc
Founded in 2018, Maki.vc focuses on early-stage investments in deeptech and brand-driven startups across consumer and enterprise sectors.
Led by partners Ilkka Kivimäki, Pauliina Martikainen-Rahnu, Pirkka Palomäki, and Paavo Räisänen, Maki.vc targets companies with scientific innovation, strong intellectual property, and in-depth customer insights.
Approximately two-thirds of its fund is reserved for follow-on investments to support portfolio companies as they scale.
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