Finland-based early stage VC firm Gorilla Capital has announced its 3rd fund, which will invest a targeted €50M in around 100 startups in Sweden, Finland, Denmark and the Baltic states.
The firm intends to do 20-35 investments from the new fund in Sweden, with amounts ranging from €50,000 to €2.5M. Across its 2 previous funds, it made a total of 7 investments and 4 follow-on rounds in Sweden, according to managing partner Petri Lehmuskoski.
So with its 3rd fund, the firm is clearly increasing its activities and ambitions on the Swedish market. This is emphasized by the appointment of a local managing partner. Moving forward, Petter Hattenbach will lead the firms activities from Stockholm.
Gorilla Capital, which was founded in 2012 in Helsinki, describes its mission as "supporting founders in building real, sustainable, capital efficient growth businesses and fostering serial entrepreneurship". It is seeking to invest in startups that resemble "camels, not unicorns". Camels are "efficient with capital in order to learn first, accelerate second and tend to go far, rain or shine".
>>> Receive a daily newsletter with the latest updates from the Swedish startup & tech sector, subscribe here.
If you prefer a weekly newsletter, sign up for Swedish Tech Weekly.