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Icebreaker.vc

icebreaker.vc

We are doubling down on supporting idea-stage teams across Finland, Estonia and Sweden. We provide up to €1.5M in initial funding to idea-stage companies with partner-level support from a team of partners, not just one.

Check Size

$500K - $1.5M

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Investment Thesis

Icebreaker focuses on supporting idea-stage teams across the Nordic region (Finland, Estonia, Sweden) with a conviction that there is a massive gap in early-stage funding. Their investment model emphasizes partner-level support throughout the journey from idea stage and beyond, with a belief that smaller, focused funds yield higher returns. They aim for at least 5x returns with an internal goal of 10x, demonstrated by their Fund I returning about half the capital already and being in the top quartile of their vintage in Europe.

What Sets Them Apart

  • Largest idea-stage portfolio in the Nordics and Baltics that has progressed from idea to seed stage
  • €30M focused micro-fund model (rather than larger funds) designed for optimal returns
  • Up to €1.5M initial ticket size for idea-stage teams to ensure sufficient runway
  • Team-based partner support model - multiple partners per portfolio company rather than single partner
  • Strong track record: Fund I returned half capital already, top quartile performance in vintage, 5x expected return
  • 36% of Fund II investments have at least one female founder (40% higher than European average in 2023)
  • 3.5x more immigrant founders backed in Finland than average Finnish VC since 2017
  • Explicit focus on founder well-being as driver of team health and venture success

Portfolio Highlights

ReOrbit

Space Tech

Aibidia

Fintech

Accurator

Saas

Gridraven

Saas

Roadcloud

Saas

Klaus

Saas

Lumoa

Saas

Sense Of Space

Ar Vr

+ 19 more companies in their portfolio

Investment Team

4 Partners at Icebreaker.vc

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