New Nordics’ sovereign funds, along with private investors invested in the €100M Nordic Fund

Among the investors in this latest €100M Nordic Fund are leading government sovereign funds, including Tesi from Finland, Investinor from Norway, EIFO from Denmark, and SmartCap from Estonia. Their participation showcases the strong collaboration across the New Nordics, ensuring that early-stage startups are not only backed financially but also benefit from a shared vision for innovation and growth in the region. 

In addition to sovereign funds, a significant portion of the fund’s backing comes from private investors, including well-established family offices, institutional investors, and experienced entrepreneurs. These private investors bring more than just capital—they provide invaluable expertise, mentorship, and strategic connections that help startups scale globally.

Investing in Ambitious Founders 

Antler’s approach is simple yet bold: back ambitious founders from day one. “We want to be the first money in. We’re generalists, and we back things that are crazy enough,” says Jussi. The firm focuses on high-impact startups with the potential to scale into category-defining companies, spanning deeptech, AI, climate tech, and beyond. 

This strategy has already seen some success in Finland. Over the past year, Antler has invested in 14 startups across diverse sectors, with another 15 planned for this year. Some standout cases include: 

• Untuvia – Recycling and reselling down materials for fashion brands. 

• Kidre – A second-hand children’s clothing platform reinventing sustainable retail. 

• Mindbend – AI-driven video tooling developed by Finnish creative pioneers. 

• QMill – A quantum computing startup developing algorithms with real industrial applications. 

What’s in the €100M Nordic Fund for the Finnish startup ecosystem?

Antler’s impact extends beyond funding. With a truly pan-Nordic presence, Antler connects the entrepreneurs from their programs in Finland with top-tier talent, investors, and opportunities across borders. 

What does this mean for Finland’s startup ecosystem? Quite simply, lots of growth. Antler has earmarked over €10M for investments across the Nordics in the next 12 months and plenty more for follow-up investments. As part of this fund, they plan to back 200 startups in the region, with at least 50 Finnish startups set to receive funding. This initiative is making early-stage venture capital more accessible than ever. The firm steps in at the earliest stages, when all that exists is an ambitious founder willing to put in the work. 

With over one year experience on Helsinki market, Antler has gained valuable insights into what drives success and what it takes to achieve it: 

• Strong tech talent – engineering capabilities and deeptech expertise make Finland a top hub for AI, quantum computing, and sustainability-focused startups. 

• Need for commercial expertise – while technical expertise is abundant, many founders require support in scaling, go-to-market strategies, and securing international clients. 

• A global outlook from Day 1  – founders in Finland think internationally from the very start. They are ambitious and keen to expand beyond Finland’s borders. With the right networks in the Nordics and globally, they can accelerate their growth even faster. 

“Finnish founders have this incredible mix of resilience, technical depth, and a global mindset. What we’ve learned is that when they are given the right support and connections, they can build some of the most impactful companies in the world,” Jussi mentioned. 

What’s next for Antler in Finland? 

Looking ahead, Antler’s ambitions stay high. Over the next few years, the €100M Nordic Fund will be deployed, with the goal of supporting the creation of more than 50 Finnish startups, helping them take their first steps and grow into successful ventures. But beyond the numbers, Antler is driving a fundamental shift in the startup landscape. By being the earliest believer in founders, they’re shaping the environment for the next wave of unicorns to be born in Finland. 

For ambitious entrepreneurs, the timing couldn’t be better. Antler’s next residency is kicking off in March, providing a unique opportunity for founders to access funding, mentorship, and a global network.