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Vendep Startup Fund Helps Startups Grow Internationally

Startup accelerator Vendep’s first startup fund invests in startups focusing on web-based services and aiming for strong international growth. The current size of the startup fund, established in September 2013, is approximately EUR 3 million, and the target size is EUR 5 million.

The fund will invest in 15 to 20 startups over an investment period four years. The maximum size of investment per company is EUR 500,000. The fund’s typical portfolio company is a business-to-business company with high international growth potential and meeting the requirements of the Young Innovative Company program (NIY) of Tekes (the Finnish Funding Agency for Technology and Innovation). A highly committed entrepreneur and team as well as a web-based product with proven competitive advantages and potential for international success are further prerequisites for an investment. The fund has made its first investment in a company offering search engine services for financial analysts and investors.

“Vendep has operated as a startup accelerator for over ten years now. During that time, we have offered the extensive and in-depth expertise of our team to a number of promising startups pursuing international growth. Therefore, establishing a startup fund was a natural next step for us. The fund allows Vendep to support startups and entrepreneurs even better in their endeavours to achieve profitable growth and international success. We are looking for companies offering web-based services and showing market traction and competitive advantages which enable a strong market position,” Vendep’s CEO Sakari Pihlava says.

Further information Sakari Pihlava, CEO, Vendep, +358 40 771 3941, sakari.pihlava@vendep.com
Hannu Kytölä, Chairman of the Board, Vendep, +358 50 544 7162, hannu.kytola@vendep.com

Vendep Startup Fund in brief
Vendep Startup fund invests in startups building web-based services and aiming for strong international growth. Founded in September 2013, the capital in the fund has been raised from Finnish private investors and Veraventure (a subsidiary of state-owned financing company Finnvera). The target size of the fund is EUR 5 million. The fund may make investments alone or as part of a syndicate. The maximum size of an investment in a single company is EUR 500,000. www.vendep.com.

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