History

Superhero Capital Oy (”Superhero”) was founded in 2015. The firm manages venture capital funds (the “Funds”) that focus on seed investments in software startups in The New Nordics. Superhero’s main office is located in Helsinki, Finland. Since 2024, Superhero also has an office in Vilnius, Lithuania.

Shortly after its founding, Superhero established its first fund, Superhero Venture Fund 2015 Ky (”SVF2015”). The second fund, Superhero Venture Fund 2020 Ky (”SVF2020”), held its first closing in January 2020. In 2022, Superhero Opportunity Fund 2022 Ky (”SOF2022”) was established to make follow-on investments in the most promising portfolio companies of SVF2015. Superhero is currently making initial investments from its fourth fund established in 2024, Superhero Venture Fund 2024 Ky (”SVF2024”).

Ownership and Management

Superhero is a Finnish limited liability company (in Finnish: osakeyhtiö) wholly owned and managed by the partners of the firm. For each Fund, Superhero has incorporated a Finnish limited liability company to act as the general partner (”GP”) of the relevant Fund. Superhero controls 100% of the votes in all the GPs. The Funds are Finnish limited partnerships and the GPs have appointed Superhero to manage the Funds.

Regulatory status and FVCA membership

Superhero is an alternative investment fund manager (”AIFM”) registered with FIN-FSA (the Finnish Financial Supervisory Authority) in accordance with the Finnish Act on Alternative Investment Fund Managers (162/2014). Superhero is also an EuVECA manager registered in accordance with the Regulation on European venture capital funds ((EU) No 345/2013). Superhero is a member of the Finnish Venture Capital Association (”FVCA”) and complies with FVCA’s rules and guidelines.

Reporting and valuation

Superhero provides investors in its Funds with quarterly reports that are prepared in accordance with Invest Europe’s Investor Reporting Guidelines. The valuation of the Funds’ investments are prepared in accordance with the International Private Equity and Venture Capital Valuation (IPEV) Guidelines.

The Funds and their investors

Name of fund	Committed capital	Investment strategy
Superhero Venture Fund 2015 Ky (”SVF2015”)	EUR 20 000 000	Seed investments
Superhero Venture Fund 2020 Ky (”SVF2020”)	EUR 38 450 000	Seed investments
Superhero Venture Fund 2020 Feeder Ky (”SVF2020F”)	EUR 3 500 000	Investment in SVF2020
Superhero Opportunity Fund 2022 Ky (”SOF2022”)	EUR 8 000 000	Investments in the portfolio of SVF2015
Superhero Venture Fund 2024 Ky (”SVF2024”)	EUR 39 000 000	Seed investments
Superhero Venture Fund 2024 Feeder Ky (”SVF2024F”)	EUR 3 750 000	Investment in SVF2024

The table below lists the percentage share of committed capital for each Fund by investor type.

Type of investor	SVF2015	SVF2020	SVF2020F	SOF2022	SVF2024	SVF2024F
Pension Companies	29%	12%	0%	25%	19%	0%
Public Sector	30%	25%	0%	25%	26%	0%
Insurance Companies	10%	4%	0%	15%	0%	0%
Funds of Funds	0%	25%	0%	0%	0%	0%
Corporate Investors	5%	0%	0%	0%	0%	0%
Family Offices & Private Individuals	20%	23%	0%	26%	38%	0%
Foundations and Donations	5%	9%	100%	6%	12%	100%
Academic Institutions	0%	0%	0%	0%	3%	0%
Other	2%	2%	0%	3%	2%	0%

The table below lists the percentage share of committed capital for each Fund by geographical location of investors.

Geography	SVF2015	SVF2020	SVF2020F	SOF2022	SVF2024	SVF2024F
Finland	99%	99%	100%	100%	77%	100%
Elsewhere in Europe	0%	1%	0%	0%	23%	0%
Rest of the World	1%	0%	0%	0%	0%	0%

Portfolio companies

For information on our portfolio companies, see our portfolio page.

Responsible investment policy

For information on our responsible investment policy, see our responsible investment page.

Key Information Documents

The PRIIPs key information document for Superhero Venture Fund 2024 Ky can be found here (in Finnish) and here (in English)

Contact for media

Gytenis Galkis
Partner
Lithuania
+370 (612) 73 268
gytenis@superherocapital.com