Wave Ventures

Wave Ventures is a venture capital firm concentrating on early-stage investments within the Nordic region. It identifies and supports exceptional young founders, providing critical seed capital and strategic guidance. The firm backs entrepreneurs developing innovative solutions to significant challenges, fostering initial growth.

Founded in 2016 by Aleksis Tapper and Pauliina Martikainen, Wave Ventures identified untapped potential. It originated as Europe's largest student-run venture capital fund, deeply connecting with and empowering a new generation of entrepreneurs. This unique insight allowed the firm to leverage support from Nordic founders.

The firm targets ambitious, next-generation founders, often Gen Z entrepreneurs, building solutions for complex problems. Wave Ventures’ mission is to be the earliest partner for these innovators, supplying resources to transform ideas into impactful companies. It cultivates entrepreneurial excellence and innovation within the Nordic ecosystem.

High-Level Overview

Wave Ventures is Europe's largest Gen Z-led venture capital firm, founded in 2016 and based in Helsinki, Finland. It focuses on first-ticket angel and pre-seed investments in exceptional Gen Z founders across the Nordics (Finland, Sweden) and Baltics (Estonia), targeting 3-10 teams per country annually with checks up to €100,000.[1][4] The firm's mission centers on identifying young innovators earlier than traditional investors, leveraging a rotating team of top university students embedded in startup ecosystems for real-time insights; its investment philosophy emphasizes proximity to emerging communities, diversity across sectors like software, sustainability, AI, health, and climate tech, and active support beyond capital.[1][4] With over 50 investments, including Vetnio (YC W25), Exa Laboratories (YC S24), Normative, Carbo Culture, and Intergrid, Wave has become a key player in the New Nordics startup ecosystem, fostering Gen Z-led innovation in electrification, sustainability, and AI.[1][4]

Origin Story

Wave Ventures was founded in 2016 in Helsinki by a team of university students, evolving into Europe's largest Gen Z-operated VC fund through a unique rotating model of young investors from top universities in Helsinki, Stockholm, and Tallinn.[1][4] This structure emerged from the founders' recognition that Gen Z peers could spot talent in nascent ecosystems before larger VCs; key figures include CEO Antonia Eneh, who highlights the peer advantage in sourcing standout entrepreneurs.[1] The firm has progressed from early Nordic focus to Fund III, scaling across Nordics and Baltics while maintaining its student-led ethos, with a team of 7 members driving over 50 investments.[1][4]

Core Differentiators

• Unique Investment Model: Operated entirely by a rotating team of Gen Z university students, enabling unmatched access to pre-seed founders often overlooked by others; focuses on earliest-stage bets (angel/pre-seed) up to €100k per deal.[1][4]
• Network Strength: Embedded in university ecosystems across Helsinki, Stockholm, and Tallinn, providing real-time proximity to innovation hubs and Gen Z talent pools.[1]
• Track Record: Over 50 investments in diverse sectors like AI (Vetnio, Kenley), sustainability (Normative, Carbo Culture, Paebbl), climate tech (Intergrid, Calectra), and health (Iona Health, Solace Care), with YC-backed exits like Exa Labs and Vetnio.[1][4]
• Operating Support: Offers mentorship, guidance, and ecosystem connections, positioning it as a peer advisor that moves faster than traditional funds.[1]

(Note: Other entities like a Texas-based WAVE Ventures exist but differ in focus, location, and model; this profile centers on the primary Gen Z-led Nordic firm.[5][6])

Role in the Broader Tech Landscape

Wave Ventures rides the rise of Gen Z entrepreneurship in the New Nordics, where young founders leverage AI, climate tech, and sustainability amid Europe's push for green innovation and digital talent.[1][4] Timing aligns with booming pre-seed demand in underserved Baltic/Nordic hubs, fueled by market forces like EU green deals, YC expansion into Europe, and a shift toward diverse, youth-led teams addressing electrification and carbon capture.[1][4] By backing 50+ startups early, Wave influences the ecosystem as a talent scout, amplifying Gen Z voices and bridging university ideas to global scale, much like how student VCs have shaped U.S. scenes.[1]

Quick Take & Future Outlook

Wave Ventures is poised to deepen Nordic/Baltic dominance with Fund III, potentially expanding to 30+ annual deals while scouting AI-climate intersections like Vetnio and Intergrid.[1][4] Trends like EU sustainability mandates and Gen Z's AI fluency will propel its portfolio, evolving its influence from scout to operator as alumni founders scale. As Europe's Gen Z VC benchmark, Wave exemplifies how peer-led models unlock hidden talent, sustaining its edge in the next wave of early-stage disruption.[1]