Espoo-based venture capital firm Vendep Capital has raised €80 million for its new Fund IV, which will invest in around 20 early-stage SaaS startups across the Nordics and Baltics, with fundraising open until April 2026.
- Established in 2013, Vendep Capital is an early-stage venture capital fund exclusively focused on B2B SaaS and has €111M under management. The firm invests in a select number of high-potential teams each year, providing capital, hands-on support, and deep SaaS expertise. Vendep’s portfolio includes companies such as Happeo, Syncle, Agileday, PatentRenewal.com, AlphaSense, Hostaway, and Leadfeeder.
- The plan for Vendep Capital’s new Fund IV is to invest in around 20 early-stage B2B SaaS startups across the Nordics and Baltics, with initial ticket sizes ranging from €0.1 million to €3 million.
- The fund will focus on pre-seed to Series A rounds, with a particular interest in AI-first SaaS products, and will continue supporting portfolio companies in later funding rounds.
“We are excited to continue our work. Nordics and Baltics today offer one of the most thriving grounds globally for building category-defining software companies, and Vendep is uniquely positioned to partner with the next wave of founders driving that growth," explains Sakari Pihlava, Partner at Vendep Capital.
- Vendep Capital’s Fund IV has already made two new investments: one in Denmark and one in Finland, and plans to continue finding and supporting high-potential SaaS founders in the region.
- The fresh fund saw support from existing institutional investors, including Tesi, KRR, Sitra, Pension Insurance Company Elo, Saastamoinen Foundation, Gösta Serlachius Fine Arts Foundation, and Teknologiateollisuus, along with new institutional LPs, family offices, and individual investors.
