A brand-new micro VC fund backed by a legion of well-known appoints in the Estonia tech background is de-cloaking the coming week. Dubbed “Superangel“, the new fund is targeting a final closing of EUR2 0 million but has already heightened EUR1 2 million. It will draw pre-seed and seed assets of between EUR5 0,000 and EUR2 50,000 on average per corporation, up to EUR2 million including follow-on investments.
I’m too told the VC — which is based in Tallinn, Estonia and Palo Alto, California — plans to invest in startups globally, but will give particular priority to European startups that are aiming for a world markets, and U.S.-based startups that are looking to penetrate European and emerging markets.
Beyond that, the Superangel fund will be sector agnostic, putting to a broad remit of information technology. However, when pushed, fintech, mobile, SaaS, sharing economy, blockchain, and AR/ VR were singled out as sectors the micro VC is deterring a close see on.
“We’re early investors, so we primarily look at the founding squad, ” Superangel Managing Partner Rain Rannu tells me. “We invest in enormous founders, who have clear perception, unrelenting resolve, and who are good at getting thoughts done. They might not have nailed down the produce meaning or business example hitherto, but if they’re kickass founders, they have a good chance to person it out eventually”.
To that culminate, the fund’s benefactors include Taxify founders Markus and Martin Villig, former general manager of Skype Sten Tamkivi, the founding fathers of PlanetOS Rainer Sternfeld, along with other unnamed entrepreneurs. Rannu previously co-founded mobile fees companionship Fortumo with another of Superangel’s Managing Partners, Veljo Otsason. Investment Manager Marko Oolo was an early employee of TransferWise. The firm’s other Managing Partner is Marek Kiisa, a Kauffman Fellow who was the first investor in GrabCAD and Bikeep.
“Additionally, we have a Company Builder program where we invest up to EUR1 00,000 per crew already in the relevant recommendations shaping phase, ” adds Rannu. “We invite enormous founders without a clear commodity theme yet to connect us as Founders in Residence. Then we will work closely together to develop the idea and model a crew, leveraging our partners and investors network and suffer until they find product-market fit and “graduate” to attract outside fund. I think this is quite different from most funds”.