Ten months in, it’s about time we properly introduced Ugne

Ugne’s name means fire in Lithuanian, and it’s a fitting match. She’s not the burn-it-all-down type of fire, but the steady spark that ignites ideas, sustains momentum, and brings energy and warmth into every connection. 

After starting as a Visiting Analyst in January, Ugne was welcomed into the investment team as an Investor by summer.

From hedge funds to hackathons

Ugne’s path into venture is anything but traditional. She began her career at Morgan Stanley, fully immersed in hedge funds, markets, and portfolio optimization. Compared to the ruthless logic of public markets, private investing struck her as beautifully irrational, and she couldn’t resist diving in.

Since then, she’s worked on both sides of the table as an operator and investor. That mix gives her a rare perspective when it comes to supporting founders, balancing big-picture market thinking with the empathy of someone who has been in the trenches.

At byFounders, she’s especially excited about vertical B2B plays, from deep tech to agentic workflows to embedded AI solving the kinds of problems that can’t simply be vibe-coded. She’s drawn to products built for complexity, not just scale.

What she looks for in founders

When it comes to partnering with founders, Ugne doesn’t sugarcoat it: she’s drawn to hustle, obsession, and empathy. She believes the best founders are close to their customers, wildly curious, and relentless in execution.

“Startups are messy and nonlinear,” she says. “I think of them like building Lego. You don’t assemble everything in one go. You break it down piece by piece, refine, and then put it together. I love that process, asking tough questions, staying close to the details, and helping founders keep the bigger picture in sight.”

A naturally contrarian spark

Partner Magnus Hambleton has seen her impact up close:

“Ugne is fully herself in every interaction she has, and that authenticity is something that clearly resonates with founders. She also has a naturally contrarian bent, which is one of the rarest and most valuable traits in an investor.”

That mix of authenticity, curiosity, and a willingness to challenge assumptions has already made Ugne a trusted sparring partner to founders across the Nordics and Baltics.

Beyond the pitch room

Outside of venture, Ugne lives somewhere between mountain trails and city lights. She grew up surrounded by nature, which is why you’ll often find her hiking, playing tennis, or sneaking in a horseback ride. But she’s also a city girl at heart, with a soft spot for stand-up comedy, late-night live music, and getting lost in modern art museums. (And for the record: matcha is absolutely non-negotiable.)

We’re thrilled that Ugne is officially part of the byFounders investment team. If you’re a founder building something complex, defensible, and ambitious in the Nordics or Baltics, chances are, you’ll be hearing from her soon.

If you wish to get in touch with Ugne, she can be reached at ugne@byfounders.vc.

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