Singapore's Leo Capital Secures First Close of €25M Nordic Fund

Fund Overview

Singapore-based VC firm Leo Capital has made the first close of its €25 million Nordic fund with anchor investor Business Finland Venture Capital and a range of returning and new investors.

The fund aims to support about 25 Nordic B2B startups from the pre-seed stage and will invest between $250K and $400K through its first cheque.

Strategic Expansion

“Leo Capital has been enabling US-based founders to build capital efficient businesses since 2018. We are delighted to now be entering Finland and bringing our India Advantage playbook to Nordic founding teams,” said Shwetank Verma, Co-founder and Managing Partner at Leo Capital.

Operational Background

Operator-led VC firm Leo Capital was founded in 2018 with three existing APAC funds investing in early-stage technology companies in the seed to pre-Series A stage. The firm has been active in Europe since 2021, making investments in startups, including operational data fabric startup Apica and open banking payments startup Atoa.

Current Portfolio

Leo Capital’s current portfolio includes 60 early-stage companies.

“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 commented.