Fund profile / Finland

Icebreaker.vc Fund III

Geography: Finland
Stage: Seed
Fund size: €30M
Focus: Deep Tech
Signals: Published

N°01 / About

About Icebreaker.vc Fund III

Icebreaker.vc Fund III is a venture capital firm based in Finland, focusing on Seed stage investments. The fund actively supports founders building innovative solutions in Deep Tech, providing strategic guidance and capital to help startups scale.

N°02 / Thesis

Investment Focus

Location / RegionFinland

Funding StageSeed

Industry Focus

Deep Tech

Investor Signals Profile

active

Sweet Spot

Domain-expert Nordic founders, idea→global scale, deep tech

deep tech

space & defence

sovereign tech

European startups

hardware/communications

domain experts

idea-stage conviction

globally scalable software

Bullish Signals

Portfolio co raised €45M Series Aexternal

Backed ReOrbit from idea stage 2020external

Co-invests with Inventure, Springvest, Varmaexternal

ReOrbit: largest all-equity Series A in Finlandlinkedin

Portfolio in top European space & defence dealslinkedin

ReOrbit round: Springvest led, strong co-investorslinkedin

Sovereign space comms: geopolitical tailwind confirmedlinkedin

11,157 LinkedIn followers — active, growing brandlinkedin

ReOrbit: advanced satellites + sovereign commslinkedin

Early-stage conviction: idea-to-€45M in 3 yearslinkedin

ReOrbit solves critical geopolitical sovereignty needlinkedin

Elo, Varma co-investors validate deep tech thesislinkedin

120+ portfolio companies with domain-expert founderswebsite

€300k–€1M cheque size: true idea-stage convictionwebsite

Offices: Helsinki, Stockholm, Tallinn — Nordic depthwebsite

Founded 2016: 9-year track record in deep techwebsite

Ambitious founders with diverse perspectives prioritywebsite

No stage too early: idea-stage investment confirmedwebsite

Contrarian Signals

Heavy focus on capital-intensive deep techexternal

Early-stage only: may deprioritize Series A+ follow-onwebsite

Founder Do's

Build in deep tech or space sector

Show early traction from idea stage

Target European sovereign tech needs

Bring bold, long-term vision

Pursue geopolitical tailwind opportunities

Hire domain experts (ex-Spotify, Pipedrive, LinkedIn, Wise)

Scale globally from Nordic base

Come from Finland, Estonia, Sweden

Founder Don'ts

Avoid non-defensible, soft-tech plays

Don't skip early co-investor alignment

Avoid non-European market focus

Don't pitch without domain expertise

36 signals on Icebreaker.vc Fund III

18 bullish · 2 contrarian · 8 pitch do's · 4 don'ts · 4 GP profiles, each with its source. From €9/month, cancel anytime.

See a signal free View Plans Browse all Signal Profiles →

Facts

Fund Overview

Fund Size€30M

Saves0

Website

People

Key People

Lasse Lehtinen

Mikko SuonenlahtiFounder/Partner

Riku SeppäläPartner

Teddie WardiPartner

Lasse LehtinenPartner

N°04 / See also

Related Funds

Maki Fund III.

Fund size€100M

Location: Finland
Stage: Pre Seed
Focus: Saas, Ai Ml, Deep Tech
Manager: Aavo Räisänen, Lkka Kivimäki, Irkka Alomäki

Pre Seed

Saas

Ai Ml

Deep Tech

Redstone North Karelia Growth Fund II

Fund size€10

Location: Finland
Stage: Pre Seed
Focus

Pre Seed

Superhero Capital IV

Fund size€50M

Location: Finland
Stage: Pre Seed
Focus: Ai Ml, Saas
Manager: Jakob Storå, Juha Ruohonen

Pre Seed

Ai Ml

Saas