We advised Icebreaker as it raised EUR 50 million for a new VC fund called Icebreaker Fund II Ky. The lead investors consist of Finnish institutional investors, and the fundraising is still ongoing with the target set at EUR 75 million.
The fund will invest in Finnish, Swedish and Estonian software-driven companies at the idea, angel and seed stages. Icebreaker invests in talented and complementary teams that build unique software-driven companies. The first Icebreaker fund was established in 2017, and it has invested in 38 companies.