Investing in Tech Superheroes in the New Nordics.
Good Morning All,
One blink and we’re into the last stretch of summer – at least on the calendar. People are heading off on holiday, and we’re taking a moment to reflect on the last few months.
This spring we did something we don’t do often enough – we got in the same room as the people who back us. Two LP Days, two cities, one clear takeaway. More on that below.
Q2 delivered: new bets, portfolio momentum, and a lot of road miles. We kicked off Q3 with a new investment and some big strategy sessions for the year ahead. This edition is about the people around us – LPs, founders, and the ones building the next thing.
Let’s dive in.
— Superhero Capital
Your sidekick when it matters.
🚀 New Investments Spotlight
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Sigvi Team |
🚘 Sigvi Raises €1.2M, Led by Us, to Build Fully Automated Car Rental Network💡Most rental startups build an app and call it a day. Sigvi builds the whole operation. Sigvi runs car rental fleets it doesn’t own – taking independent operators’ cars and automating the whole rental lifecycle: pricing, booking, keyless access. Launched in Poland in June, already managing 200+ vehicles. Harder to build, harder to copy. Welcome to the portfolio, Vytis, Ignas, Mindaugas and the whole team. |
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Rise Group Team |
💰 Rise Financial Group raised €1.4M – and we led it💡SME accounting has been broken for 20 years – software cuts costs, firms bill by the hour, and the SME pays for both while getting half the value. Rise kills that trade-off: autonomous AI bookkeeping with real-time oversight from licensed KLT-certified accountants. The software does the work, the founder gets the result. Starting in Finland, then the EU. Welcome to the portfolio, serial founder Lennu Keinänen and team 🦸 |
🔥 eMabler closed a Series A
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Our portfolio keeps moving – eMabler, Open EV Charging Platform, has closed a €5.5M Series A round. |
| The EV charging market is growing fast, but the infrastructure behind it remains fragmented. Different apps, different systems, limited interoperability, and increasing pressure on the grid. eMabler took a different approach.
Instead of building another charging app, they’ve built the API-first software layer that enables enterprises to launch and scale charging services on their own terms – hardware-agnostic, grid-aware, and built for the future of mobility. Today, their technology powers charging experiences for some of the largest organisations in the Nordics. Tomorrow, they’re taking that vision further into Germany and the UK. The round was led by Greencode Ventures, with participation from Swiss Post Ventures, Rethink Ventures, Helkama Kiinteistöt, Finnvera, and Business Finland. Congratulations to Juha Stenberg and the entire eMabler team on this milestone. We’re proud to be part of the journey and excited about what’s ahead. 🦸♂️ |
| 📰 Read more about it here |
🤝 LP Days: What Our Backers Actually Want
Superhero Capital Vilnius Team
In late May we hosted two LP gatherings – Vilnius on the 26th, Helsinki on the 27th. We gathered our LPs and founders under the same roof, shared our portfolio updates and enjoyed quality conversations with some food & drinks.
Three things our LPs told us, again and again:
→ They want conviction, not consensus. The bets that make a fund are rarely the ones everyone agrees on early.
→ They want to see the portfolio up close – not quarterly PDFs, but the founders, the products, the real momentum.
→ They want fewer, better conversations. Not more reporting. More interactions.
That’s the fund we’re building. And it was good to hear it back from the room.
Thank you to everyone who came – in Vilnius and Helsinki. Some things can’t happen on a Zoom call.
Want to be in the room next time?
Follow us on LinkedIn.
Superhero Capital Helsinki Team
🎬 Founders Corner: The New Series
We started a new series on our LinkedIn – Founders Corner. Honest conversations with our portfolio founders about the journey: the good and the bad. For the people shaping, and funding, the next generation of companies.
Darius Verseckas from Sigvi “You can book a hotel in ten seconds. Then you reach the car rental counter and it’s 2005 again.” Darius Verseckas has known Sigvi’s founders since he was 12 – here’s why they’re fixing the last analogue corner of travel.
Timo Valtonen from Flow Computing “I’m not good at building furniture. Building companies is my carpentry.” Timo Valtonen is rethinking the CPU itself – and betting the next leap in computing comes from architecture, not brute force.
Teemu Kinos from Skene “On Monday you feel like this is going nowhere. On Tuesday you’re going to rule the world.” Teemu Kinos on the pivot that changed everything – and the 1,000 developers a month who followed.
Eero Kuusi from Zenniz Eero Kuusi’s father built a tennis line-calling system in the 1960s. It never shipped. Fifty years later Eero turned that same conviction into Zenniz – a $6M raise, a US HQ, and systems running at tournaments worldwide. A generational mission, finally built.
Markku Vuorinen from Homie There are AI billboards all over San Francisco. Markku Vuorinen asked the honest question – how many of these tools do people actually use? Then he built Homie to make warm intros systematic. Zero cold outreach. PMF in months.
🌍 2025: Our Impact in Four Numbers
We’re building out our ESG and impact reporting. Here’s where 2025 landed.
→ €4M invested into early-stage founders
→ 8 new companies joined the portfolio
→ 60+ people hired across our portfolio companies
→ Top 5% globally for Net Impact Ratio — +37% (Upright Project)
That last one matters most to us. The Net Impact Ratio models the net effect a company has on the world = across carbon, health, knowledge, and jobs – and being in the top 5% means the companies we back create far more than they take. The numbers tell part of the story. More from our impact work soon.
🦸Have you tried Supernaut?
Our portfolio company Supernaut started as a tool for engineering teams. It worked – but it wasn’t the whole story. So the team went back to the people actually using it, followed where the real energy was and rebuilt around what they found: Founders, not engineers.
Today, you describe the company you want to build – and Supernaut builds it, puts it live, finds customers and sets it up to take payments. No code. No hiring.
It has already shipped real, live products – from a manuscript-checking tool to a daily negotiation game.
The idea was never the hard part. Execution was. Supernaut steps in for that.
What have you been meaning to build?
$50 in free usage. No credit card required → supernaut.ai
📰 In the News
Our companies kept showing up this summer.
Hamina Wireless headlined Helsingin Sanomat’s pick of 10 Finnish AI startups to watch – thousands of customers in around 100 countries, built from Finland.
Four of our companies made Startup100’s July ranking of Finnish startups – ReceiptHero (#5), Behavix (#9), eMabler (#38) and Skene (#60).
Copla made CNBC and Statista’s World’s Top Fintech Companies 2026 – one of only three Lithuanian companies on a global list of 500.
🦸☕ On the Road: The Coffee & Deals Tour
Spring brought serious miles under our belt – and we all agreed Gytenis ran the longest lap. He basically turned it into a marathon:
🇵🇱 Warsaw – PE Insights. CEE’s largest private equity conference. 10+ meetings with LPs and GPs from across the region. His take: Poland is not sleeping. Lots of capital, lots of opportunity, a market growing fast.
🇱🇹 Vilnius – EBAN Congress 2026. On stage at Europe’s largest gathering of business angels. Both
🇩🇪 Berlin – SuperReturn International + bio:cap Investival. Back-to-back, where global LPs and GPs meet.
And he wasn’t the only one on the move. Ralfas and Ivo worked the floors of Latitude59 in Tallinn. Juha joined the 15th Anniversary Edition of Arctic15. Milda sat on the jury at Startup House Riga’s Demo Day. Zivile made it to the South Summit. Mia co-hosted the Level20 Finland mingle at Supercell. And Gytenis capped it off at the NGL Summer Fest – where he also took over the tennis court.
The best deals don’t come from a stage. They come from the coffee after it.
📣 VC in Town: Hello, Riga
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We are coming to Riga for 1-on-1 meetings. If you’re building something software-driven in the Baltics at pre-seed or seed – apply, and if there’s a fit, you’ll get a pre-booked slot. Applications close: August 5 Link in the comments. Builders are always building, even if it’s August. 🦸 |
| Register here by the end of August 5. |
⛑️ Lock in & Build Hackathon in Tallinn
Builders, founders, and vibe coders of Tallinn – it’s time to unite, lock in, and bring your craziest ideas to life on a brand new hackathon!
Let us introduce you to the “Lock in & Build”, which is a hackathon happening on the 26-27th of September in Tallinn.
The event aims to bring together AI builders, industry experts, creatives, and students to help them connect with each other, team up, and create new solutions over the weekend.
PS. There are also rumors going around that Lovable, Bilt.me, and other cool kids are giving out some free credits for the participants.
More info & registration here.
Registration deadline 16th of September.
🚀 The Mission Continues
If you’re building something bold in the New Nordics – venture-scale, AI-native, and unfairly ambitious – reply with MISSION.
We’re always looking for the next Superhero.
— Superhero Capital
Your sidekick when it matters.
Follow us on LinkedIn if you haven’t yet.