Vendep Capital invests from its €36M pre-A venture fund (2017 vintage) based in Helsinki and founded by three partners. The partners have complimentary backgrounds as entrepreneurs (Nettiauto.com, Koulukaverit.com), investors (Alphasense, Brella, Leadfeeder, Meontrust 2017 Exit to Inside Secure ) and general managers (F-secure, Reuters, Nokia).
We invests in the best SaaS teams in Finland (marketplaces and b2b software) when early metrics show market validation and the team has a solid plan for scaling further. Typically, the initial investment goes into marketing and sales and establishing operations in the European HUBs (London, Berlin, Amsterdam) or in the US.
Vendep Capital manages two funds Vendep Startup Fund I (2013: €5M in commitments, 10 investments) and Vendep Capital Fund II (2017: €36M in commitments). The funds Limited Partners include funds of funds, pension companies, public sector entities, banks, private companies, private individuals, foundations and family offices from Finland.
Vendep Capital manages the funds as a registered entity under the AIFM regulatory framework. Sakari Pihlava acts as the managing director and Hannu Kytölä as the Chairman of the Board. Vendep Capital is fully owned by its personnel.
Vendep Capital follows Invest Europe Investor Reporting Guidelines and the IPEV Valuation Guidelines. Our
Standards of ethical investing are documented and reviewed annually.
Vendep Capital portfolio of investments can be found at vendep.com/#portfolio.
For more information, please contact Sakari Pihlava.
Vendep Capital is a member of Finnish Venture Capital association (FVCA) and follows its the rules and recommendations.
Vendep Capital Fund II 36M (2017 Vintage)
Vendep Startup Fund I 5M (2013 Vintage)
Initial investment size
Target ownership stake
London, Berlin, Amsterdam, Bay Area
Venture Partner and Advisor network
Total credits offered by AWS and Google cloud programs through Vendep
Sakari has 20+ years of software business and venture capital experience from startup to IPO in Europe and the East Coast of the United States. He spent 6 years at F-Secure and built a new encryption product line, which grew to €17 million and 42% of total sales at the F-Secure 1999 IPO. Since then he has spent 4.5 years at TVM Capital, a trans-Atlantic venture fund with more than €1 billion under management in Munich and Boston and 3.5 years at Efecte, a leading Nordic IT service management company, before coming to Vendep.
Sakari’s background is especially strong in enterprise software having worked during his career with all publicly listed security companies and their Founders in Finland.
Jupe has 15+ years of software business and investing experience, most notably in Finland, the Netherlands and Silicon Valley. Prior to becoming an entrepreneur, he worked in several IT roles and companies in the Netherlands and Finland. After completing his MBA, he co-founded an accelerator (Laakeri Media) where he bought, sold, founded, built, launched and managed more than a dozen startups.
Laakeri Media became Vendep Accelerator in 2010 and Jupe ran Vendep’s Accelerator operations in Palo Alto during 2011-2012. Jupe’s background is especially strong in marketplaces and SaaS.
Before launching his career as an entrepreneur and investor 20 years ago, Hannu held several specialist and general managerial positions, both in Finland and abroad, within Nokia and Reuters. He established his first startup, Fiare, in 2000, and the company has since grown into one of the leading providers of software for classified advertising companies. Hannu also co-founded Nettiauto.com, the largest used car classified site in Finland, which was successfully sold to one of the largest media companies in Finland, Otavamedia. Hannu’s background is especially strong in Fintech and marketplaces having worked, founded and exited several companies in the fields.
Hannu has a long history of angel investments, most notably Alphasense, where Hannu was the first investor. He has very strong network in the Finnish early stage market as an active member of FiBAN (Finnish Business Angels Network) and having served five years as a board member of the Finnish Software Entrepreneurs’ Association.
Hannu is also the original founder of Vendep. The name has been used since 2002 for Hannu’s early investment activity, 2010 by Vendep Accelerator, 2013 by Vendep Startup Fund I and now by Vendep Capital. Thus, Vendep is an established and reputable and well-known brand for a leading developer of early stage ventures in Finland.
For 3 years prior to Vendep, Timo managed a network of 30 VCs and 30 corporate VCs and delivered deal flow from Finland. The network included tier 1 VCs along with smaller seed stage funds which we’re foreign to the Finnish growth company networks. Prior to this, he was a founding partner at Helsinki Ventures, an early stage venture development company and an accelerator focused on helping teams from former CIS-countries in developing their customers and entering the markets in the West.
Timo joined the team in 2017 and is especially strong in getting companies ready for raising their A rounds through his contacts in the European VC scene.