said it completed the final closing of its second fund at 100 million euros and also raised a separate 20 million fund that will be used to continue investing in its Fund 1 portfolio companies.

The teams backed in Icebreaker’s first fund over 2017-2019 have so far turned 6 million euros of initial investment tickets into 63 million in follow-on funding led by later-stage investors, with the latest highlights including n Flowhaven raising $16M from Sapphire Sport and GFC, Sellforte raising $4.8M from Sonae IM and Bonnier Ventures and Osgenic raising €5M with Springvest.

“With the new €100M fund we continue with the same focus; no stage is too early for us to invest and we want to support founders from the day they start thinking about founding a company”

partner Riku Seppälä

Icebreaker has broad investment scope, focusing on strong domain-expert founding teams with complementary skills (or helping build those), strong technology and global markets.

“The paths are quite different, but strong teams are able to create the future and capitalize on changes in the market,” Seppälä said in a statement.

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