Vendep Capital Raises €80M To Support Early-Stage AI SaaS Startups

The fund is supported by Nordic and European investors, including Tesi, Pension Insurance Company Elo, family offices, and angel investors. Although the fund has reached its target, it will remain open to new investors for a short time.

Since 2013, Vendep Capital has built a strong track record in Nordic SaaS investing, backing companies like AlphaSense, Hostaway, Leadfeeder, and Happeo. The firm focuses on early-stage B2B SaaS, from pre-seed to Series A, with a special emphasis on AI-first products, and is recognised as a leading SaaS investor in Northern Europe.

Read Also - CommerceClarity Raises €2.7M To Transform E-Commerce With AI

We are excited to continue our work. The Nordics and Baltics offer one of the most thriving environments globally for building category-defining software companies, and Vendep is uniquely positioned to partner with the next wave of founders driving that growth, said Sakari Pihlava, Founding Partner at Vendep.

The new fund comes at a key moment for SaaS. Sami Ahvenniemi, General Partner at Vendep, noted that while SaaS may not always seem flashy, it has consistently outperformed thanks to predictable recurring revenue and strong margins. He added that AI is driving a highly dynamic phase, with the most impactful AI products delivered and monetized as SaaS.

Fund IV will back around 20 early-stage SaaS startups in the Nordics and Baltics, from pre-seed to Series A, with initial investments of €3 million. Vendep also provides follow-on funding to help portfolio companies scale toward global market leadership.

About Vendep Capital

Vendep Capital is an early-stage VC fund investing exclusively in B2B SaaS across the Nordics and Baltics. Partnering with ambitious founders, Vendep provides capital, hands-on support, a trusted founder community, and deep SaaS expertise to help startups scale globally, shorten sales cycles, build strong teams, and secure future funding.