Failup Ventures Launches New €50M Fund
Failup Ventures, an emergent venture capital fund operating globally, recently announced the initial closing of €30 million for its new early-stage fund, which has a total size of €50 million. This fund was established by three Finnish entrepreneurs - Jesse Heikkilä, Topias Soininen, and Oscar Andersin.
Specialising in backing early-stage startups with dedicated, mission-driven teams, Failup Ventures generally makes initial investments ranging between €200,000 and €1 million, with the capacity for larger follow-on investments.
Distinctively positioned in the Nordic region, Failup Ventures has a robust presence in the United States, boasting extensive networks and access to top international cases, enabling the identification and support of promising startups in both the Nordics and the US. This global perspective, particularly the access to US-based startups, has garnered attention and commitments from a diverse group of investors, many of whom are entrepreneurs themselves.
The founding members of Failup Ventures contribute varied expertise from their backgrounds as founders and angel investors. Heikkilä and Soininen, recognised for their work with Playven, later acquired by Playtomic, bring a deep understanding of high-growth startups and product-market fit. Andersin, previously an Investment Manager at Vencubator, along with the team, has built and invested in nearly 40 startups through past angel investments.
Topias Soininen, co-founder and General Partner, expressed his excitement about the launch: “We are thrilled to launch Failup Ventures as the first-ever Finnish VC fund to have its core foothold in the US as well. Our global approach and grassroots networks enable us to identify truly promising early-stage teams and support them from the start. Many of our previous investments have received follow-on investments from renowned firms like A16Z, NFX, General Catalyst, and Tiger Global. This is a testimony to our understanding of truly brilliant teams and efforts in grassroots work.”
Jesse Heikkilä, also a co-founder and General Partner, emphasised the importance of experience: “We have seen that founders prefer to work with individuals who have firsthand experience in building a company and have faced similar challenges in the past. And that’s exactly what we’ve done before founding Failup. We are excited to pave the way for next-generation founders with our fund by next-generation investors, and thrilled to have some of the brightest entrepreneurs backing us as Limited Partners.”
Emphasising empathy towards founders, Failup Ventures invests in mission-driven founders impacting society, work, health, or the environment. The fund offers peer support, strategic guidance, and network access across Finland, Europe, and the US, supporting startups in their global growth journeys.
Oscar Andersin, co-founder and General Partner, highlighted their commitment: “Our commitment lies in supporting founding teams that are building solutions capable of making a real improvement. We also only want to invest in teams that align with our values. In fact, the very first meeting we had with the Failup team revolved around our values: what we believe in and what kind of world we want to contribute to building.”
Failup Ventures has already made three investments with its fund, targeting a size of €50 million. Business Finland Venture Capital Oy was a key investor in this new fund.
Petri Serenius, Investment Director at Business Finland Venture Capital Ltd, commented: “We were particularly impressed by the team's high level of ambition and their international approach to investing. The team's prior experience as startup entrepreneurs and their strong track record in early-stage investments within the fund's target areas provided a solid foundation for their transition to VCs. Despite a challenging fundraising environment, the team successfully raised the capital required for the fund in a short time.”
Failup Ventures’ Investment Themes include the Future of Work, Consumption, Dynamic Marketplaces, Digital Infrastructure, Commercial Climate Tech, and others.
Failup’s first investments include Foundernest, Ever, and Vested Health. Foundernest leverages Generative AI for market landscaping and insights. Felix Herranz, co-founder and CEO of FounderNest, remarked on the partnership:
“We are excited to partner up with Failup. The founder journey is a challenging one and joining forces with investors who have been previous founders is just incomparable. Having someone to go to for advice and a team so committed to FounderNest's success is a unique asset for the short, medium, and long run.”
Ever, an electric vehicle marketplace, was co-founded by alumni of Stanford and Uber. Lasse-Mathias Nyberg, co-founder and CEO of Ever, expressed gratitude for Failup's support: “We were really happy to bring Failup Ventures on board our journey. Their first-hand experience from building startups and investing across different segments helps them to understand the everyday life of a seed-stage startup. We can always count on them being available and use them as a valuable sounding board.”
Vested Health is transforming healthcare into a proactive, preventative, and data-informed model. Through a hybrid healthcare model, it includes regular check-ups and systematic testing for its members.