Today FIBAN, the Finnish Business Angels Network and Inventure have announced a strategic partnership to enhance their Seed program for the Nordics and Baltics, which we wrote about earlier here. What this means in practice is likely sharing dealflow and running events together, but entrepreneurs only benefit between better links between institutional and private seed funders.
In a press release, Sami Lampinen, Managing Partner at Inventure talks more about the partnership. “We are excited to join FiBAN’s network, meet new entrepreneurs and find new syndication opportunities for our investments. We want to boost entrepreneurship in the Nordics & Baltics and build globally competitive companies together.”
Within Inventure’s fairly new €68 million fund they’ve set aside a seed investment allocation, said to invest €100,000 to €250,000 per startup. Once milestones are hit, it’s Inventure’s strategy to then invest and connect to further funding. So far the Helsinki-based VC firm has made seven of their 15+ expected investments.
“The gap between business angels and VC funds need to be filled, and deeper cooperation is of essential importance to secure the many rounds of financing a promising startup going global usually needs”, says Riku Asikainen, Chairman at FiBAN.