Wave Ventures, a Helsinki-based VC firm run entirely by investors aged 25 and under, has closed its third fund at €10M, a fivefold increase from its previous €2M fund.
Alongside the close, Wave is launching a €240,000 grant program for Nordic founders who are pre-idea, pre-revenue, and pre-funding.
The firm’s thesis: the AI era is producing a generation of young builders; the Nordics risk losing to the US; and Wave wants to write the first cheque before anyone else knows its name.
The investors making bets on the next generation of Nordic founders are, on average, younger than the founders they back. Every member of Wave Ventures‘ investment team is 25 or under. Its LPs include the founders of Supercell, Wolt, and Bolt. And today, Wave closed its third fund at €10 million, five times the size of its last one.
“We’ve grown the fund 5x and turned a student-led vehicle into a professional fund that competes head‑on with older VCs. They respect us because we’re first in with €100k tickets — and we can show we actually move the needle,” says Johannes Korpela, co-founder of Wave Ventures, to Tech Funding News.
