Superhero Capital Launches €50M Fund to Boost Tech Startups in Finland and the Baltics

Superhero Capital,a Helsinki-based venture capital firm,has launched its fourth fund,aiming to raise €50 million to support early-stage software startups across Finland and the Baltics. This move highlights the firm’s expanding role in the region’s tech landscape and its commitment to driving innovation.

Notable supporters of the fund include Elo Mutual Pension Insurance Company and Tesi, Finland’s state-owned venture capital and private equity firm. Enni Rautio, Interim Director of Tesi’s investment team, shared her viewpoint: “The entry of Finnish venture capital and private equity players into international markets is crucial for Tesi. Superhero Capital’s past performance and team have demonstrated profitability, and we’re confident that Finnish startups will thrive under their guidance.”

As its founding in 2015, Superhero Capital has been instrumental in supporting tech entrepreneurs across Finland and the Baltics. The new fund underscores its dedication to strengthening Latvia’s startup ecosystem,with Ernests Stāls,a key figure in Latvia’s tech community,playing a central role.

Stāls, co-founder of TechHub Riga (now Startup House Riga) and a driving force behind the TechChill conference, brings extensive experience to the table.His efforts have significantly enhanced collaboration among startups,investors,and global leaders,accelerating the region’s tech industry. “The Latvian startup ecosystem has immense untapped potential,” Stāls noted. “Over the next four years, our goal is to make impactful investments in Baltic startups, with a focus on nurturing as many Latvian companies as possible. Superhero Capital is uniquely positioned to offer both financial backing and strategic support, empowering Latvian entrepreneurs to build globally competitive businesses.”

Beyond financial investments, Superhero Capital has actively engaged in mentoring and organizing startup events, fostering a supportive environment for emerging innovators. This hands-on approach ensures that Latvian entrepreneurs have access to the tools and expertise needed to succeed.

Strategic Investments Highlight Growth ambitions

The new fund has already made significant strides with two major investments. The first is a €2.5 million funding round led by superhero Capital in CyberUpgrade, a Lithuanian cybersecurity company specializing in digital security solutions for Europe and the US. The second is a €1.6 million co-led investment in behavix,a Helsinki-based firm that uses AI to analyze online behavioral data and deliver actionable insights for businesses.

These investments reflect Superhero Capital’s focus on transformative startups and its expansion across the Baltic region. The firm now operates in Finland, Estonia, Latvia, and Lithuania, collaborating with local ecosystem leaders such as Ivo Remmelg in Estonia and Gytenis Galkis and Audrius Milukas in Lithuania.

Superhero Capital’s investment strategy revolves around two critical questions: “Why are you the best team in the world to achieve this vision?” and “Why is now the ideal time for this solution?” This approach ensures the firm supports the most innovative and capable teams, aligning with its mission to drive long-term growth in the tech sector.

With over 40 portfolio companies and more than 150 founders supported, Superhero Capital has established a strong track record of fostering innovation and success in the tech industry.

Superhero Capital Launches Fourth Fund to empower Early-Stage Startups in Finland and the Baltics

Superhero Capital, a leading venture capital firm, has announced the launch of its fourth fund, targeting €50 million to support early-stage software startups in Finland and the Baltics. The fund aims to empower visionary founders and drive transformative innovation in the region.

Empowering Visionary Founders

In an exclusive interview, jakob Storå, Co-Founder of Superhero Capital, shared the vision behind the new fund.”Our goal is to empower visionary founders at the earliest stages of their journey,” he said. “We believe the next wave of transformative technology will emerge from this region, and we want to be the catalyst that helps these startups grow and scale.”

Storå emphasized the importance of supporting founders who are solving real-world problems with innovative software solutions. “By backing these entrepreneurs, we aim to create meaningful change and foster a thriving ecosystem for innovation,” he added.

Notable Backers and their Role

The fund has garnered support from prominent institutions, including Elo Mutual Pension Insurance Company and Tesi. According to Storå, their involvement is a testament to the trust they have in Superhero Capital’s team and track record.

“Elo and Tesi are not just investors; they are partners who share our commitment to fostering innovation in Finland and the Baltics,” Storå explained.”Their support allows us to take bigger risks and back more founders, which is critical at the early stages when startups need the most help.”

Enni Rautio from Tesi echoed this sentiment, stating, “This initiative is about strengthening the Finnish venture capital ecosystem and ensuring that our startups have the resources they need to compete globally.”

Evolution of the Startup Ecosystem

Since its inception in 2015, Superhero Capital has witnessed significant growth in the startup ecosystems of Finland and the Baltics. Storå reflected on this evolution, noting that the region has seen a surge in talent, ambition, and collaboration.

“When we started, the ecosystem was still nascent, but there was a lot of untapped potential,” he said. “Today, startups are thinking globally from day one, and we’re proud to have played a part in this growth by backing some of the most promising founders in the region.”

Superhero Capital’s portfolio companies have gone on to raise notable follow-on funding, create jobs, and make a real impact. Past investments include €450,000 in Latvian startups like PrintOnPack.com, a platform for the soft packaging market, and Dripit.io,a marketing data and analytics platform.

A Focus on Nurturing Innovation

The new fund also highlights a focus on nurturing innovation and strengthening the Baltic tech ecosystem. By providing early-stage funding and support,Superhero Capital aims to pave the way for groundbreaking innovations and global competitiveness.

as Storå put it,”Our mission is to ensure that the next generation of startups has the resources and guidance they need to succeed. We’re excited to see what the future holds for this vibrant ecosystem.”

With its fourth fund, Superhero Capital is poised to continue its legacy of fostering innovation and empowering founders, solidifying its role as a key player in the region’s startup landscape.

why Latvia is a Rising Star in the Baltic Tech Ecosystem

Latvia, often overlooked in the global tech landscape, is quietly emerging as a powerhouse in the Baltic startup scene. With its rich engineering heritage and a surge of entrepreneurial talent, the country is catching the attention of investors like Superhero Capital. Jakob Storå, a key figure at the firm, sheds light on why Latvia is a priority for their investment strategy and what makes it a fertile ground for innovation.

Latvia: A Hidden Gem in the Baltic Tech Scene

According to jakob Storå, Latvia’s tech ecosystem is a “hidden gem” brimming with potential. “The country has a strong tradition of engineering excellence and a growing pool of entrepreneurial talent,” he explains. This combination of technical expertise and innovative spirit has made Latvia an attractive destination for venture capital firms looking to diversify their portfolios.

One of the driving forces behind this growth is Ernests Stāls, a respected figure in Latvia’s tech community. Storå highlights Stāls’ role in identifying and nurturing promising startups. “Ernests has been instrumental in helping us connect with the most innovative minds in the region,” he says. By investing in Latvia,Superhero Capital is not only supporting individual startups but also contributing to the progress of a vibrant,interconnected Baltic tech ecosystem.

Advice for Early-Stage Founders Seeking Funding

for early-stage founders looking to secure funding, Storå offers straightforward yet impactful advice. “Focus on solving a real problem and be relentless in your pursuit of excellence,” he emphasizes. Superhero Capital seeks founders who are passionate, resilient, and have a clear vision for how their product or service can make a difference.

Storå also stresses the importance of building a strong team.”Ideas are important, but execution is everything,” he notes.Founders should not hesitate to reach out early, as Superhero Capital prides itself on supporting startups from the very beginning of their journey. “We’re here to help, and we love working with founders from the ground up,” he adds.

The Future of Finnish and Baltic Tech Ecosystems

Looking ahead, Storå is optimistic about the future of the Finnish and Baltic tech ecosystems.”What excites me most is the sheer potential of this region,” he says.Increased cross-border collaboration, growing interest from international investors, and a steady stream of success stories are driving this optimism.

Storå believes the next decade will be transformative for the region. “Finland and the Baltics will be at the forefront of global innovation,” he predicts. Superhero Capital is thrilled to be part of this journey and is eager to see how the ecosystem evolves. “We can’t wait to see what the future holds,” he concludes.

Conclusion

Latvia’s rise as a tech hub is a testament to the region’s untapped potential. With the support of investors like Superhero capital and the guidance of local leaders like Ernests Stāls, the country is poised to make a significant impact on the global stage. For founders, the message is clear: focus on solving real problems, build a strong team, and don’t shy away from seeking support early in your journey.

What factors contribute to Latvia’s emergence as a rising star in the Baltic tech ecosystem?

Exclusive Interview with Jakob Storå, Co-Founder of Superhero Capital: Why Latvia is a Rising Star in the Baltic Tech Ecosystem

By Archys, Archyde News Editor

In the ever-evolving world of venture capital and tech innovation, few regions have captured the attention of investors like the Baltics. Among the three Baltic states, Latvia, frequently enough overshadowed by its neighbors Estonia and Lithuania, is quietly emerging as a powerhouse in the startup ecosystem. To understand why latvia is becoming a focal point for investors, we sat down with Jakob Storå, Co-Founder of Superhero Capital, a Helsinki-based venture capital firm that has been instrumental in fostering innovation across Finland and the Baltics.

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Archyde: Jakob, thank you for joining us.Superhero Capital has been a key player in the Baltic tech scene. What makes Latvia stand out in this ecosystem?

Jakob Storå: Thank you for having me.Latvia is truly a hidden gem in the Baltic tech scene. While Estonia often gets the spotlight for its unicorns like Skype and Bolt, and Lithuania for its fintech prowess, Latvia has been quietly building a robust ecosystem rooted in its rich engineering heritage. The country has a strong tradition of technical excellence, which has translated into a surge of entrepreneurial talent.

What sets Latvia apart is its ability to combine this technical expertise with a growing ambition to think globally from day one. Startups here are not just solving local problems; they’re addressing global challenges,which is exactly what we look for at Superhero Capital.

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Archyde: Superhero Capital recently launched its fourth fund, targeting €50 million to support early-stage startups in Finland and the Baltics. How does Latvia fit into this strategy?

Jakob Storå: Latvia is a priority for us. With this new fund, we’re doubling down on our commitment to the Baltic region, and Latvia is a key part of that strategy. We’ve already made meaningful investments in Latvian startups, such as printonpack.com and Dripit.io, and we see immense untapped potential here.

Our goal is to empower visionary founders at the earliest stages of their journey. In Latvia, we’ve found founders who are not only technically skilled but also deeply passionate about solving real-world problems. That combination is rare and incredibly exciting for us as investors.

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Archyde: You mentioned Latvia’s engineering heritage. How does that translate into the startup ecosystem today?

Jakob Storå: Latvia has a long history of producing world-class engineers,especially in fields like software advancement,hardware,and cybersecurity. This technical foundation has created a fertile ground for innovation.

For example, we’ve seen Latvian startups excel in areas like AI, machine learning, and cybersecurity—fields that require deep technical expertise. The country’s universities and tech hubs, such as Riga Technical University and Startup House Riga, are also playing a crucial role in nurturing this talent.

What’s even more notable is how these engineers are transitioning into entrepreneurship. They’re not just building products; they’re building companies that can compete on a global scale.

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Archyde: Superhero Capital has been actively involved in mentoring and organizing startup events in Latvia. How vital is this hands-on approach?

Jakob Storå: It’s absolutely critical. At Superhero Capital, we don’t just provide funding; we’re deeply involved in the ecosystem.we believe that early-stage startups need more than just capital—they need guidance,mentorship,and access to networks.

In Latvia, we’ve worked closely with local leaders like Ernests Stāls, who has been instrumental in building the ecosystem through initiatives like TechHub Riga and the TechChill conference. By organizing events and mentoring founders, we’re helping to create a supportive environment where startups can thrive.

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Archyde: What challenges does Latvia face in becoming a global tech hub, and how can investors like Superhero Capital help address them?

Jakob Storå: Like any emerging ecosystem, Latvia faces challenges such as access to later-stage funding and the need for more global exposure. While the country has a strong foundation, scaling startups to compete internationally requires more than just early-stage support.

That’s where we come in. Our role is not just to provide initial funding but to help startups navigate the challenges of scaling. We connect them with international investors, help them refine their go-to-market strategies, and provide the mentorship they need to succeed.

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Archyde: Looking ahead, what’s your vision for Latvia’s tech ecosystem?

Jakob Storå: I’m incredibly optimistic about Latvia’s future. Over the next four years, we aim to make impactful investments in Baltic startups, with a strong focus on Latvia. Our goal is to help Latvian entrepreneurs build globally competitive businesses that can make a real impact.

Latvia has all the ingredients to become a leading tech hub in the Baltics—world-class talent, a supportive ecosystem, and a growing ambition to innovate. with the right support,I believe we’ll see more Latvian startups breaking onto the global stage.

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Archyde: Thank you,Jakob,for sharing your insights. It’s clear that Latvia is a rising star in the Baltic tech ecosystem, and we’re excited to see what the future holds.

Jakob Storå: Thank you. We’re just getting started, and I can’t wait to see what Latvian founders will achieve in the years to come.

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Jakob Storå is the Co-Founder of Superhero Capital, a Helsinki-based venture capital firm focused on empowering early-stage software startups in Finland and the Baltics. With over 40 portfolio companies and a track record of fostering innovation, Superhero Capital is a key player in the region’s tech ecosystem.

Stay tuned to Archyde for more updates on the Baltic tech scene and exclusive interviews with industry leaders.