Leo Capital reaches first close of $27.84M Nordic fund
What's the deal? Leo CapitalDealroom has a profile for this one. Try Dealroom →, a Singapore-based early-stage venture firm, has announced the first close of its new $27.84 million Nordic fund. The vehicle will back around 25 business-to-business (B2B) software startups, writing initial cheques of $250,000 to $400,000 from the pre-seed stage.
Who's backing it? Most of the capital came from Business Finland Venture Capital, alongside new and returning international investors.
What's the endgame? The fund targets Nordic founders building companies with cross-border ambitions. "Our Nordic fund continues Leo Capital's proven strategy of investing in the most capable, ambitious and resilient founding teams and helping them to successfully scale across borders," said Henry Goodwin, partner at Leo Capital.
Why now? Leo Capital has backed European startups — including ApicaDealroom has a profile for this one. Try Dealroom →, AtoaDealroom has a profile for this one. Try Dealroom →, and EirDealroom has a profile for this one. Try Dealroom → — since 2021. Partner Shwetank Verma points to homegrown giants such as Spotify, Nokia, Zendesk, and Unity as evidence that Europeans are building major multinational companies.
The signal: A Singapore firm raising a dedicated Nordic vehicle underscores how cross-border investors increasingly see Europe's early-stage B2B software scene as fertile ground — and how founders there are being courted with global scaling playbooks.
Read more: Startup Rise
Image credit: Jorge Franganillo
