Estonia, EU – Baltic States, Financial Services, Funds, Good for Business, Innovations, Investments, Technology

Icebreaker representative Rasmus Klarck told that the fund is intended primarily for companies in the very early phase, that is at the idea and angel stage, but companies at the seed stage can also participate.

Icebreaker will invest 150,000 to 800,000 euros in teams that have deep domain expertise and are building globally competitive strong tech companies.

This is Icebreaker's second fund. The size of the first fund amounted to 20 million euros and the venture capital firm has invested in 38 companies over the last three years, including five Estonian companies.

According to the company, they have invested in very early stage companies in Estonia, Finland and Sweden more than any other fund.

The fund's growth team is cooperating with startups. Icebreaker also claims to have strong ties with other European venture capital firms, which will make it easier for startups to raise money in the next round.

Icebreaker's lead investors are Tesi, KRR III, Varma Mutual Pension Insurance Company and Elo Mutual Pension Insurance Company together with 41 other investors consisting of institutional investors, family offices and founders.