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Wave Ventures is a venture capital firm founded in 2016, headquartered in Helsinki, Finland, with additional offices in Stockholm, Sweden. This firm is recognized as the first student-run VC in the Nordics and the largest in Europe, managed entirely by students from Aalto University and the University of Helsinki. The firm has established a strong presence in the Nordic and Baltic startup ecosystems, focusing on supporting early-stage startups, particularly those led by exceptional Gen Z founders.
Since its inception, Wave Ventures has aimed to invest earlier than traditional investors, providing capital and resources to innovative startups. The firm closed its third fund in May 2025, raising €7 million, which tripled the size of its previous fund. This growth reflects the increasing interest in supporting young entrepreneurs and the potential of the Nordic startup scene.
Wave Ventures operates with a unique model where the team rotates as students graduate, ensuring continuous engagement with emerging founders. This structure allows the firm to maintain close ties to the Gen Z founder pipeline, fostering a dynamic and responsive investment approach.
Wave Ventures primarily invests in early-stage companies, specifically targeting the angel and pre-seed investment phases. The firm focuses on startups in the Nordics and Baltics, emphasizing sectors such as climate tech, fintech, healthcare, and artificial intelligence. The investment strategy is centered around supporting exceptional Gen Z founders who are innovating in these areas.
The check sizes range from $10,000 to $500,000, allowing for flexibility in funding various stages of early development. Wave Ventures seeks to connect with emerging founders and innovative ideas, leveraging its unique student-run model to identify promising startups. The firm values mentorship and access to a robust network of industry leaders, which enhances the support provided to portfolio companies.
Wave Ventures is particularly interested in companies that demonstrate a commitment to sustainability and innovation. The firm’s thesis emphasizes investing in startups that are not only financially viable but also contribute positively to society and the environment.
Wave Ventures has built a notable portfolio of companies that reflect its focus on sustainability and innovation. Key portfolio companies include:
The portfolio demonstrates a strong tilt towards climate and sustainability, despite the firm's vertical-agnostic mandate. This focus on impactful companies positions Wave Ventures as a significant player in the early-stage investment landscape.
Johannes Korpela - CEO & Investments, Finland. Johannes has a background in finance and entrepreneurship, with experience in leading investment initiatives at Wave Ventures.
Robin Hansson - CFO & Investments, Finland. Robin specializes in financial management and has played a key role in the firm’s fundraising efforts.
Camilla Komulainen - Investments, Finland. Camilla focuses on sourcing and evaluating investment opportunities within the Nordic startup scene.
Max Larsson - Investments, Sweden. Max brings expertise in market analysis and startup growth strategies to the team.
Margarethe Böhme - Investments, Sweden. Margarethe is involved in deal sourcing and portfolio management, contributing to the firm’s investment decisions.
Tiffany Tuisk - Investments, Estonia. Tiffany focuses on identifying promising startups in the Estonian market and beyond.
Niklas Kervinen - Head of Marketing, Global. Niklas oversees marketing strategies and brand positioning for Wave Ventures.
To pitch Wave Ventures, founders should use the contact email firstname@wave.ventures or visit their website at wave.ventures. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and team background. The firm values clarity and conciseness in presentations.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are preferred, especially from individuals within the Nordic startup ecosystem.
In May 2025, Wave Ventures successfully closed its third fund, raising €7 million, which marks a significant increase from its previous fund size of €2 million in 2022. This growth reflects the firm’s commitment to supporting early-stage startups led by Gen Z founders.
Wave Ventures continues to expand its influence in the Nordic and Baltic startup ecosystems, actively seeking new investment opportunities in sectors such as climate tech, fintech, healthcare, and AI. The firm’s unique student-run model has garnered attention and recognition within the venture capital community.
What are Wave Ventures' investment criteria?
Wave Ventures invests primarily in early-stage startups at the angel and pre-seed stages. The firm focuses on companies led by Gen Z founders in the Nordics and Baltics, particularly in sectors like climate tech, fintech, healthcare, and AI.
How can I pitch to Wave Ventures?
Founders can pitch to Wave Ventures through their website at wave.ventures. It is recommended to include a clear business model, market analysis, and the team’s background in the pitch deck.
What makes Wave Ventures different from other VCs?
Wave Ventures is unique as it is managed entirely by students, providing a fresh perspective on investment opportunities. This student-run model allows for a strong connection to the Gen Z founder pipeline and a commitment to supporting young entrepreneurs.
What is the typical check size for investments?
Wave Ventures typically invests between $10,000 and $500,000 in early-stage startups, allowing for flexibility in funding various stages of development.
What is the geographic focus of Wave Ventures?
The firm primarily focuses on the Nordic and Baltic regions, aiming to support startups that are innovating within these markets.
What kind of support do portfolio companies receive?
Wave Ventures provides significant value through mentorship, access to a robust network of founders and industry leaders, and connections to resources within the Nordic startup ecosystem.
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