Back launches their second fund launches their second fund

The Finnish VC focusing on very early stage startups (pre-seed and pre-founder) with deep domain expertise announced the launch of its second fund with the first close of 50 million euros. The company has also expanded its operations to Sweden and grown from 3 people to a 12 person team .

Their first fund, launched in 2016, was 20 million euros, and from that fund they have invested e.g. in Upgraded members MVision, Osgenic, Inscripta, Finnadvance, and Causalus in the health vertical.

Even though Icebreaker’s growth has been significant, they claim to keep their focus on the same principles they have been following so far: Giving the best support for the earliest stage, continuing to develop their community of founders, and investing approx. 150k-800k euros in globally competitive tech companies with deep domain expertise.

“We believe this is a great time to start new companies in Finland, Sweden and Estonia. Even if the global economy is hitting a bump, there is more talent available than usually, there will be many new opportunities arising following the current crisis – we believe it will be easier than ever to build a global company as work is shifting online. For domain experts that have experienced large problems that need to be solved in your industry, get in touch, we will keep on investing actively.” the company states.

More info from Icebreaker’s website and TechCrunch!

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