Singapore’s Leo Capital launches €25M fund for Nordic B2B startups

Helsinki’s tech ecosystem is getting a boost with Singapore-based venture capital firm Leo Capital launching its Nordic headquarters to support regional B2B startups. 

To coincide with the new HQ,  Leo Capital is launching a €25 million fund, Europe Fund I, specifically targeting the Nordic region, marking its first fund focused on Europe. 

“Europe Fund I continues Leo Capital’s successful strategy of investing in the world’s most capable, ambitious, and resilient founding teams.”

“It is these founders that we are looking to partner with, combining their vision and dynamism with our own networks, resources, and years of cross-border experience to help supercharge their trajectory and realise their global ambitions,” said Shwetank Verma, Co-founder of Leo Capital.

Leo Capital’s decision to expand its operations to Finland came after participating in the 90 Day Finn program, an initiative by Helsinki Partners designed to attract international entrepreneurs and investors to Helsinki. 

Business Finland Venture Capital has made an anchor investment in the fund.

“For us, Finland is exciting because we see parallels with what we know best in Singapore, for example. We can see that combination of government support, talent, and entrepreneurial zeal. They’re small markets but very dynamic”, Verma noted.

The Nordic region, known for its openness and global perspective, provides an inviting ecosystem for international funds. However, while early-stage funding is relatively accessible, there is a notable gap in later-stage funding, an area where Leo Capital aims to make a significant impact.

“One of the challenges in Finland is the relatively small and local nature of funds. To elevate Finland’s success stories, we need to attract larger international funds and investors. The entry of Leo Capital, with its extensive network, into Helsinki’s ecosystem is a significant step towards this goal,” Huurre added.

Lead image: Helsinki by Kaitlin Orr and Anders Husa.

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