Inventure, a Finnish venture capital firm is vouching to invest annually up to 3 companies graduating from the Startup Sauna accelerator program. The open term sheet model of investing sets an example of co-operating for accelerators and investors.
Inspired by the tremendous progress and achievements of Startup Sauna in the past few years, Inventure has decided to take concrete steps to strengthen its existing collaboration with Aalto University’s entrepreneurship scene.
Inventure, a Finnish venture capital firm with offices in Helsinki and Shanghai, takes the lead within the venture community by pledging to invest in Startup Sauna’s most successful teams. “We build an efficient and long-term co-operation platform with Startup Sauna and its’ great startups, as well as business angels and VCs”, states Tuomas Kosonen, Partner at Inventure.
Starting Fall 2012, Inventure will invest in up to 3 startups per year, with an annual allocation of 300 000€. The base deal is 100 000€ for 15% of equity. Encouraging startups to attract more investors and money on board, the agreed equity stake to investors remains the same - in other words, raising 200 000€ on would mean that the company will have a valuation of 1,3 million euros.
The open term sheet offered to Startup Sauna teams will have favourable and transparent terms that are designed to be as straightforward as possible. The investments will be offered to the chosen companies after completing the Startup Sauna accelerator program. This smooth funding process enables the startups to keep full focus on their technology development and business ramp-up.
“This is a new model for accelerators and investors to work together in Europe. Inventure is setting an example to our region’s venture capital community”, says Antti Ylimutka, the Captain of Startup Sauna. “We function as the platform for startups and investors to meet and we’ll have a portfolio of such offers for our graduates in the future. Startup Sauna is pleased to be leading the way in Europe. ”
About Inventure www.inventure.fi.
Inventure is a venture capital investor in early stage companies, actively supporting growth oriented entrepreneurs to internationalize Nordic success stories. Founded in 2005, Inventure manages funds with over EUR 53 million in total capital base. Examples of Inventure’s portfolio companies are Freespee, Canatu, Conmio, BeiZ, Rightware, Thinglink, and Beneq. Inventure is based in Helsinki and Shanghai.
Startup Sauna is the seed acceleration program for early-stage startups in Northern Europe and Russia. Founded in 2010, Startup Sauna has worked with over a 100 companies coming from all over the region. Startup Sauna pushes the selected startups develop to a stage where they’re ready to take over the international markets. The coaches, who are some of the region’s most talented serial entrepreneurs, investors and other professionals, help our startups achieve this goal.