Superhero Capital to close second fund by mid-summer

The Helsinki-based VC announced a first close on €30m in September last year and was previously aiming for a final close by the end of 2020.

Partner Jakob Storå previously told Unquote that the LPs in the vehicle include Finnish institutional investors such as Tesi, fund-of-funds KRR III, and Elo Mutual Pension Insurance Company, as well as founders of companies in a small capacity.

The fund is double the amount of its debut fund, which held a final close on €20m in October 2016 and is fully invested.

The fund has already been deployed to make seed investments in seven companies, including digital receipt provider ReceiptHero, Lithuanian urban delivery platform Ziticity, and Finnish user experience startup Attractive.ai.

The new vehicle focuses on insight-driven startups in Finland and the Baltic region, and will be used to invest in around 25 startups over the next four years. The GP invests up to €1m, with typical investments being around €400,000.

Click here for a rundown of other Nordic funds currently on the road, with updates on their fundraising progress

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