Outlast Fund has announced the successful closure of its first fund with a total of €21 million. This new venture fund aims to invest primarily in pre-seed and seed-stage companies located in the Baltic and Nordic regions. Founded by a group of individuals with extensive experience as founders and investors, the fund intends to drive innovation by financing young startups striving to make a mark in these markets. Outlast Fund positions itself as the first choice for founders seeking the initial capital injection necessary to build businesses intended for long-term success.
Historically, venture capital in these regions has evolved rapidly. While Stockholm has been a significant tech hub for years, the Baltic countries have shown accelerated growth more recently. This fund capitalizes on the dynamic startup ecosystem in cities like Riga and Tallinn, which resemble the early years of Stockholm’s venture scene characterized by budding opportunities and emerging success stories. Such comparisons illustrate the fund’s strategic potential to nurture promising ideas from these thriving hubs.
Why does Outlast Fund focus on early-stage investments?
Outlast Fund targets the earliest stages of startup development to cultivate innovation from the ground up. The firm’s philosophy centers around nurturing ideas before they enter the crowded later-stage venture capital market. “The real breakthroughs happen at the edges,” noted Marija Rucevska, co-founding GP of Outlast Fund, underscoring their desire to engage with startups at their nascent phases. By investing early, the fund aims to identify and support outliers, assembling syndicates for those that demonstrate unique potential.
Can Outlast Fund’s network offer specialization advantages?
Though the fund maintains a generalist approach, it strategically capitalizes on its GPs’ networks and expertise in specific sectors like B2B SaaS, digital health, and fintech. This specialized focus arises from the founders’ past experiences and successes, allowing them to provide valuable mentorship and support to startups tackling real-world challenges within these industries.
Outlast Fund is already demonstrating its strategy by investing in five startups prior to the official fund closure. These early investments include Handwave, Convershake, MIA Health, Aggregate Markets, and Vitala. These companies encompass a range of domains from biometric authentication and AI SaaS solutions to digital health and marketplace platforms.
The backing from anchor LPs such as ALTUM and the European Regional Development Fund illustrates confidence in the fund’s mission. Additionally, experienced operators and former executives from high-profile entities such as Printful and Revolut have also supported the fund, signifying its credibility and potential impact.
Outlast Fund’s launch is notable within its regional context, particularly as it seeks to support both first-time and serial entrepreneurs. The blend of capital, experience, and strategic partnership with up-and-coming founders marks its unique position. “I recognise a remarkable resemblance between Riga’s current landscape and the early days of the Stockholm scene,” emphasized Kristaps Prūsis, another co-founding GP, highlighting strong optimism for the startup ecosystems in the Baltic-Nordic region.
Securing €21 million for Outlast Fund indicates a robust confidence in the potential success of emerging startups from the Baltic-Nordic region. The fund’s position to inject initial capital signifies a promising future for nurturing innovative solutions. As they continue to identify and invest in promising startups, the focus on sectors with rapid growth potential may underline the significance of their strategy within these intricate ecosystems, paving the way to build enduring companies.
