What we look for
when investing

We evaluate startups using the 8 T Framework. It’s not a checklist, but we encourage you to consider how you best address each of the 8 Ts.

01 - Team

Why you ?
Although we might fall in love with your idea, we invest in founders and the relationship between us. Convince us that you are the right group of people, in the right place, working on the right thing.

02 - TAM

How big is the problem?
We focus on massive market opportunities. Large markets are good. Emerging markets even better. Help us understand the dynamics of the market you are breaking into - what does it look like now, and in the future?

03 - Timing

Why now?
For a company to succeed, there needs to be a complementary appreciation of your vision and the realities of the market. Help us see that your timing is right by highlighting the inflection points you believe we’re nearing, that will give your company its “lucky” break.

04 - Traction

Do your users and customers love you?
We understand it’s early days, and you might not even have a product on the market, but by showing us any proof of traction, you help us visualize your path toward major success. This could be early adopter feedback, initial paying customers, highly engaged beta testers, super users, or evangelists in the making.

05 - Technology

What makes your product unique?
The reality of most software companies is that they are relatively easy to copy. It is, therefore, important for you to have a technology edge that is hard to copy, or a unique advantage that raises the bar and keeps competitors from entering your space.

06 - Transformative

Will you change the world?
Venture scale successes aren’t built on incremental improvements. We are looking for companies that will fundamentally transform industries. Show us that you will make a difference.

07 - Transparency

What do you need help with?
We know from experience that starting a company is not all sunshine and rainbows, but don't gloss over your patchy areas to sell us your idea. Show us your ugly slide and we'll empathize and, together with our tight-knit community of successful founders and operators, we will help you find the right solutions.

08 - Tomorrow

How are you contributing to a better tomorrow?
It’s paramount to us that you have a conscious approach to driving the impact of your company. We don't invest in companies with a net negative impact, so we need to see that you continuously strive to do better. Show us that you care about running your business in the most sustainable way.

Why choose us?

Our strong local presence is complemented by our global reach. When we invest in you, you're instantly welcomed into our tight-knit community, offering you the operational expertise, network, and compassion you need to drive sustainable growth and success. 

We intend to be your trusted partner-in-crime, to nurture a community of authentic, curious, and generous people motivated by achieving their full potential, and to make a positive contribution to society by helping impact-aware companies succeed.

Is your startup what we are looking for ?

"We could see the value in having access to a close-knit network of skilled and experienced people who have come a long way on their startup journeys."

Jon Edvald
Founder , Garden

Where do you invest?

We invest in great founders and great teams anywhere. But we do have a soft spot for founders with a connection to the Nordic and Baltic countries, whether by nationality or by being based here.

What do you invest in?

We invest in early-stage companies with software-driven business models. We invest in globally ambitious founding teams who are conscious about their impact on the world. Read more about our focus here.

At what stage do you invest?

Our sweet spot is Seed stage, but we invest as early as pre-seed, and we can enter as late as Series A.

What are the 8 Ts?

The 8 Ts is the framework we use to evaluate companies. Just like you, we as investors need to consider what rocketships we should opt for a seat on. It’s not just about what company’s valuation will 10X the fastest. 

The purpose of our 8 T framework is to structure and clarify our thinking about your company and the opportunity it represents. It is not a checklist where you need to tick off every box, however, we encourage you to consider how you can address each of the Ts. Read more here.

Do you lead rounds? What is your ticket size?

Yes. Our ticket size depends on whether we lead or follow, syndicate, or go at it as the sole investor. On average, our ticket size ranges between EUR 500K to 4m.

What do you look for when assessing a company?

We evaluate every startup using our 8 T framework, to structure and clarify our thinking about your company and the opportunity it represents. It is not a checklist where you need to tick off every box, however, we encourage you to consider how you can address each of the Ts. Read more here.

What do you mean with impact-aware?

We believe superior financial returns will come from investing in companies contributing to a better Tomorrow. Either through their product or service or by how they run their business. Ideally both. 

We are not an impact fund, but we have adopted an impact-aware approach throughout all of our actions as a fund and firm. This approach complements our existing core values and principles from when we first started the fund.  

We've added an 8th T: Tomorrow, to our existing 7 T framework for evaluating companies. You can read more about that here.

Do you syndicate with other investors?

Occasionally, when it makes sense. For example, if we see that our competencies and network are complemented by those of another investor or VC fund, we love to bring them along. You can read more about the investors with whom we have co-invested under each specific portfolio company here.

How many new investments do you do in a year?

Approximately 10-12.

Are you actively investing?

How big is your fund?

Our Fund I was EUR100m. Our current Fund II is EUR110m. 

How long do you take to decide?

It depends on a few things, including the urgency from your side, but typically about 1-3 weeks at most.

What don’t you invest in?

We do not invest in companies focusing on tobacco and alcoholic beverages, weapons, gambling, pornography or the illegal distribution of intellectual property.

We don’t invest in areas and verticals of which we have little knowledge or experience, either as a team or by extension, our Collective. When evaluating whether to invest in a company, we must understand how we can help the company move forward. If we don’t see that we can provide value, we don’t invest. Simple as that.

What’s the difference between your Fund I and II?

The main difference between our two funds is that for Fund II, we have explicitly adopted an impact-aware approach, from how we screen companies, to how we work with our portfolio as well as how we run our own firm. 

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