Wave Ventures announced the final close of its third fund at €10 million, marking a significant expansion of the firm’s investment platform. The new fund is five times larger than Wave Ventures’ previous fund, reflecting the firm’s growing role in backing early-stage founders across the Nordic startup ecosystem.
The fund will support Wave Ventures’ continued focus on identifying and investing in young founders at the earliest stages of company building. The firm has positioned itself as an early backer of ambitious entrepreneurs, often supporting founders before they have gained broader institutional attention.
Alongside the fund close, Wave Ventures announced the launch of the Wave Rebellion Grant, a new initiative designed to support 10 young builders across the Nordics. The grant will provide a total of €240,000 in funding and partner credits, with support from Amazon Web Services, Verda, Anthropic, Lovable, and Modal.
Wave Ventures said the Wave Rebellion Grant is structured with no strings attached, giving recipients access to capital, infrastructure, and resources without requiring equity or traditional investment terms. The initiative is intended to help young entrepreneurs experiment, build, and move faster during the earliest stages of their projects.
The firm said the decision to launch the grant reflects its belief that ecosystem-building is part of Wave Ventures’ core identity. Rather than simply announcing a larger fund, the firm is using the milestone to reinvest in the next generation of Nordic founders and builders.
Wave Ventures noted that its alumni have gone on to play influential roles across the startup ecosystem, including running funds, appearing on Forbes lists, and shaping the broader Nordic technology landscape. The firm said that many of those individuals once benefited from someone taking an early chance on them, and the new grant is intended to extend that same opportunity to emerging builders.
The announcement also reinforces Wave Ventures’ long-standing strategy of operating close to founders and backing exceptional talent earlier than others. The firm emphasized that it continues to see its role as being “in the trenches” with entrepreneurs, supporting them at the point when belief, momentum, and early resources can make a meaningful difference.
The Wave Ventures team and community members tied to the announcement include Johannes Korpela, Camilla Komulainen, Robin Hansson, Max Larsson, Margarethe Böhme, Niklas Kervinen, and Tiffany Tuisk.
With its third fund and the Wave Rebellion Grant, Wave Ventures is aiming to expand both its investment capacity and its contribution to the Nordic startup ecosystem. The firm’s latest fund close gives it more capital to back early founders, while the grant program provides a separate pathway for supporting young builders who may be at the very beginning of their entrepreneurial journeys.
