Borenius advised OpenOcean on the formation of its latest venture capital fund

We advised OpenOcean on the formation of its fourth main venture fund, which has raised EUR 100 million at its first closing and aims to reach EUR 130 million in total. The new fund focuses on early-stage startups in the fields of AI, data, and software development. Investors include the British fund of funds, Isomer Capital, the Finnish fund of funds, KRR, and the European Investment Fund.

For OpenOcean, the new fund signifies an increased emphasis on AI-driven data and software. OpenOcean has already announced the first investments from the new fund, which include investments in Embeddeable, a customer-facing analytics startup, and Dreamfold, an AI-driven generative machine learning company developing complex proteins with the goal of discovering breakthrough medicines.

OpenOcean is a venture capital investor focusing on leading or co-leading Seed or Series A investments in European data economy companies. OpenOcean’s founders include key individuals behind MySQL AB. Its mission is to scale technical, AI-driven data pioneers from Europe to global category leadership