Borenius advised Superhero Capital on the formation of Superhero Venture Fund 2024

We advised Superhero Capital as it raised its fourth private equity fund, Superhero Venture Fund 2024. The fund will focus on investments in early-stage software companies located mainly in Finland and the Baltics. The target size of the fund is EUR 50 million, and it is an “Article 8” product for the purposes of the EU SFDR rules. Its investors include Elo Mutual Pension Insurance Company and the Finnish state-owned venture capital and private equity company Tesi.

Established in 2015, Superhero is a Helsinki-based investment company that focuses on seed stage venture capital investing in software-driven startups in Finland and the Baltics. It has historically invested tickets up to €1M and has over 40 active portfolio companies. The new fund launch is also accompanied by strategic expansion to Lithuania, extending Superhero’s presence to cover Finland, Estonia, Latvia, and Lithuania.

Superhero has also announced the first investment of the new fund; investment in CyberUpgrade, a Lithuanian cybersecurity startup focused on fortifying digital security for organizations across Europe and the USA.