Vendep Capital Raises €80M for AI-first SaaS Founders

Vendep Capital has closed an €80 million fund. The firm will support early-stage founders building AI-first SaaS products. This new fund focuses on companies in the Nordics and Baltics. It targets the growing B2B software market in the region. Vendep plans to invest in approximately 20 startups. The firm will back companies from the pre-seed to Series A stages. Initial investments will range from €0.1 million to €3 million. Vendep also provides follow-on funding to help companies scale globally. The fund is backed by prominent Nordic and European investors. These include Tesi, a Finnish state-owned firm, and Pension Insurance Company Elo. Family offices and angel investors also contributed to the fund. The fundraising will remain open for a short period for new investors. SaaS continues to be a strong investment category. It offers predictable recurring revenues and high margins. Artificial intelligence is now creating a dynamic new phase for the model. In fact, most significant AI products today are delivered as AI-first SaaS. Vendep believes the Nordics and Baltics are a thriving environment. The region is ideal for building category-defining software companies. The firm has a strong track record in SaaS investing. Its portfolio includes successful companies like AlphaSense, Hostaway, and Happeo.