There’s been a slew of new European VC fund raises over the last few , including mostly recently Seedcamp, Balderton, and Brighteye Ventures, but now we can add Inventure to the list. The Nordic VC firm is announcing a new fund to invest in seed-stage and early-stage in the region.

The first closing of “Inventure III” totals € million, giving claim to being the “largest pure early-stage fund ever raised in Finland”. It is hoping to bring the total up to €135 million by the end of . The leading LPs in the latest fund are European Investment Fund (EIF), Finnish Industry Investment (Tesi), ELO, Ilmarinen, Nordea, in addition to other unnamed institutional and private investors.

Other than fresh capital, it is pretty much business as usual for Inventure. The decade old VC, which is based out of Helsinki, Stockholm, and Shanghai, looks to invest in regional startups at the very earliest of stages. Specifically, this means both seed (€300-700k) and A-rounds (€1-5M).

In addition, I’m told Inventure will have extra capacity to lead investments all the way through expansion stages. The firm also plans to increase the amount of investments outside Finland, doubling down on Sweden, the Nordics and the Baltics.

With its roots in Finland, Inventure says its investment team will continue to make “big bets on deep ,” including artificial intelligence, Internet of Things, new materials, virtual and augmented reality. “[The] new era of , future mobility, personalised healthcare, and next-generation UX platforms are key areas Inventure continues investing in,” says the VC.

”In its two previous funds, the Inventure team has proven the ability to create value in dozens of companies and to generate good financial returns for investors. We are excited to be backing the new fund, and we are looking forward to new stories rising from the portfolio”, adds Tapio Passinen, Investment Director at Tesi, in a statement.

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