Superhero Capital Launches 4th Fund to Invest in Technology Startups in Finland and the Baltics

Superhero Capital, a Helsinki-based venture capital firm, proudly announces the launch of its fourth fund with a target of €50 million. This new fund underscores their commitment to supporting early-stage software startups across Finland and the Baltics, with a particular focus on strengthening local ecosystems.

Superhero Capital Partners (from left to right): Jakob Storå, Audrius Milukas, Juha Ruohonen, and Gytenis Galkis

 

Since its founding in 2015, Superhero Capital has championed over 150 founders and backed 40 portfolio companies, providing investments of up to €1 million. Their mission has always been clear: empower entrepreneurial superheroes who have the courage to improve ordinary life. This latest fund continues that legacy, aiming to identify resilient teams poised to make a difference.

 

Superhero Capital evaluates investment opportunities by asking two critical questions: “Why are you one of the best teams globally?” and “Why now is the best time for this startup?” These criteria help them identify transformative ideas with the potential to create meaningful change.

 

Expanding into the Baltics

As part of this new fund, Superhero Capital is strengthening its presence in the Baltic region with the addition of Lithuanian partners Gytenis Galkis and Audrius Milukas. Their local market expertise will enable Superhero Capital to further support the vibrant startup scene in Lithuania and beyond.

 

“Our goal with this fund is simple: empower visionary founders at the earliest stages who have what it takes to create meaningful change,” says Jakob Storå, co-founder of Superhero Capital. “With Gytenis and Audrius joining our team, we are better equipped to add value to the Baltic startup ecosystem and beyond.”

 

Superhero Capital’s broader network also includes venture partners Ivo Remmelg in Estonia and Ernests Štāls in Latvia, ensuring a strong regional presence that supports connectivity with local founders.

 

Early Investments Highlight the Fund’s Vision

The fund’s first investment is CyberUpgrade, a Lithuanian cybersecurity startup enhancing digital resilience across Europe and the USA. CyberUpgrade’s €2.5 million seed funding round exemplifies Superhero Capital’s commitment to empowering entrepreneurs who are tackling pressing global challenges.

 

In addition, Superhero Capital co-led a €1.6 million funding round for Behavix, a Helsinki-based AI-driven platform transforming online behavioral data into actionable insights. These investments reflect the fund’s focus on leveraging technology to address complex challenges and drive meaningful innovation.

 

Driving Internationalization and Technological Advancement

Superhero Capital’s fourth fund is supported by key Limited Partners, including Elo Mutual Pension Insurance Company and Tesi, Finland’s state-owned venture capital and private equity company. “The internationalization of Finland’s venture capital and private equity market is important to Tesi. Superhero Capital has successfully internationalized and excelled in profitable business operations,” says Enni Rautio, Interim Director of Tesi’s Fund Investments team.

 

Looking ahead, Superhero Capital sees technology as a way to reduce repetitive tasks, enabling people to focus on creative and high-value work. This perspective aligns with their mission to support founders who are rethinking the ordinary and building solutions that enhance human potential.

 

A Decade of Supporting Innovation

As Superhero Capital nears its 10th anniversary, the firm’s dedication to early-stage innovation across Finland and the Baltics remains unwavering. With this new fund, they’re poised to continue empowering the next generation of entrepreneurial superheroes and driving impactful change.

 

For more updates on Superhero Capital’s journey and their investments, visit their website or follow them on social media.