Meet Wave Ventures, the Finnish Gen Z VC fund for Gen Z Founders announcing a €7 million fund

Helsinki-based Wave Ventures, a Gen Z-run VC firm, announces its third fund at €7 million, tripling the size of its previous fund – aiming to become the leading early-stage backer of Gen Z Founders across the Nordics and Baltics. Wave’s third fund is backed by a diverse network of investors, including the Founders of Slack, […] The post Meet Wave Ventures, the Finnish Gen Z VC fund for Gen Z Founders announcing a €7 million fund appeared first on EU-Startups.

May 15, 2025 - 10:16

Meet Wave Ventures, the Finnish Gen Z VC fund for Gen Z Founders announcing a €7 million fund

Helsinki-based Wave Ventures, a Gen Z-run VC firm, announces its third fund at €7 million, tripling the size of its previous fund – aiming to become the leading early-stage backer of Gen Z Founders across the Nordics and Baltics.

Wave’s third fund is backed by a diverse network of investors, including the Founders of Slack, Bolt, Skype, Supercell, Wolt, Silo AI, and Smartly.io, as well as European early-stage VCs, and family offices.

Antonia Eneh, CEO of Wave Ventures, said: “AI is unlocking a new era of speed and scale: young Founders are moving faster than ever, thinking bigger, and building globally from day one. This generation understands the problems that matter and has the tools to solve them. Wave is built to find them and back them first.”

Founded in 2016, Wave Ventures prides itself in identifying exceptional early-stage talent. Over its first two funds, Wave Ventures has made over 50 initial investments as the first backer and invested in nearly 80% of VC-backed Finnish startups led by CEOs under 30.

Wave Ventures’ previous investments include Inven, Intergrid, Exa Laboratories (YC S24), Vetnio (YC W25), Paebbl, Normative, and Carbo Culture.

As per comments by Wave Ventures, the fund launches at a pivotal time for early-stage investing in the region. The rapid advancement of generative AI, no-code tools, and open-source technologies is making entrepreneurship more accessible than ever, while the Nordic startup ecosystem continues to gain global momentum.

Wave’s model is grounded in a core principle: proximity to the next generation of builders. The fund is operated entirely by a small rotating team of Gen Z investors embedded in startup ecosystems across Helsinki, Stockholm, and Tallinn. This structure provides Wave with real-time access to the communities where the most ambitious Gen Z Founders are emerging, often before they appear on the radar of VCs.

Now, with Fund III, Wave plans to scale this approach across the Nordics and Baltics, aiming to invest in 3 to 10 new teams per country each year, focusing on first-ticket angel and pre-Seed rounds up to €100k

Cal Henderson, Co-founder of Slack, said: “Wave Ventures has a truly unique advantage, connecting to the most promising young European entrepreneurs before any other investors could ever have them on their radar. Having seen firsthand the incredible talent and drive of the youth emerging from Finland and the Nordics, I believe we’re about to witness a wave of incredible new companies built by this next generation of founders.”

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