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Tuesday, March 21, 2023

Estonian VC firm Superangel announces its new fund for early-stage startups

The early-stage fund headquartered in Tallin & Zug, Superangel has announced its new fund. The VC firm will be backing early-stage startups with innovative projects in the Baltics and Nordics. This 50 million euro fund will feed the ideas of science-based and R&D-intensive companies. To date, Superangel has supported many early stagers like Bolt, Rappi, Veriff and Pipedrive during their climb to Unicorn Mountain. Now, the firm is planning to use tokens to attract industry experts to share their wisdom in one-to-one meetings with startups.

Superangel announces 50M€ fund and introduces ownership tokens for its network

The Tallinn and Zug-based VC fund Superangel will be investing 50M€ in the builders of world-changing technology in the Baltics and Nordics. The fund partners’ previous investments have seen four companies reach unicorn status, including Bolt, Rappi, Veriff and Pipedrive. With their second fund, Superangel introduces tokens in its fund to reward everyone contributing to the portfolio startups’ success.

Estonia, home to the highest number of unicorns per capita, is known for its highly collaborative startup scene. By tokenising up to 5% of the fund’s carried interest in partnership with their portfolio company Koos.io, and sharing the tokens with contributors, Superangel aims to expand and incentivise this unicorn-breeding collaborative culture internationally.

Additionally, Superangel will use the tokens to get industry experts to work 1:1 with startups over a longer period of time in helping them develop fundamental strategies and processes for succeeding, such as setting up a sales playbook, finding and onboarding talent or creating a growth marketing strategy. This offers early-stage startups a unique opportunity to access the world’s best subject matter expertise.

Superangel, Veljo Otsason“A decade of investing, initiating projects, and bringing the startup ecosystem together has given us a super-network. We’ve been thinking about how to transfer the network and its combined experience and skills to a new generation of founders. The solution we came up with was incentivising the people in our network with tokens – the more someone contributes, the more they get in return,” said Superangel General Partner Veljo Otsason.

A significant proportion of the Superangel Two fund will be invested in science-based and R&D intensive companies, having SmartCap as one of the anchor investors. Superangel’s General Partners personally committed 10% of the fund size. The fund’s limited partners are, among other serial entrepreneurs and investors, Grünfin founder Triin Hertmann, who was an early employee at Skype and Wise, Koos.io founder Taavi Kotka, known as the pioneer of e-Estonia, and Kersti Kaljulaid, President of Estonia between 2016-2021.

Besides having strong ties in the Baltics and Nordics, Superangel often invests together with world-class investors, such as Index, Sequoia, Accel, and Seedcamp, bringing global capital closer to the Baltic region.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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