Icebreaker
Venture capitalHelsinki · Pre-Seed–Series A · 5 people tracked
Find your way into Icebreaker
1,522 people in our graph share verified history with the Icebreaker team — schools, employers, funds. One of them is your warm intro.
Investment thesis
Icebreaker focuses on supporting founders from the earliest idea stage through seed and beyond, writing first tickets of up to €1.5M. The firm invests in startups based in Estonia, Finland, and Sweden and backs over 100 teams, partnering with founders throughout the idea stage and their subsequent growth. Its portfolio spans a wide range of technology sectors including AI, fintech, cybersecurity, SaaS, and enterprise software.
Source: firm website, verified Aug 3, 2026.
Team · 5 people
from the firm's website & public directories
What they invest in
from 18 of 36 portfolio companiesSaaS ×13AI & Machine Learning ×8Enterprise Software ×6Healthtech ×4Future of Work ×3Deep Tech ×2Digital Health ×2Hardware ×2
HQs:Sweden×4Finland×3France×1United States×1
Who they back
founder profiles across 9 portfolio companiesFounding team size:solo founder×52 founders×23 founders×2
Where their founders studiedfrom 12 founders with education data
Aalto University ×2University of Helsinki ×2University of Jyväskylä ×2
What their founders studiedfrom 11 founders with field-of-study data
Computer Science ×5Mathematics & Statistics ×2
Investments · 36 tracked
founders shown can be your intro pathBy year:2025 · 52023 · 32022 · 12021 · 12020 · 22018 · 214 dated
Aibidia provides software for transfer pricing compliance, covering local files, P&L segmentation, and Pillar Two preparation, and offers an AI research tool backed by IBFD data and validated by tax experts.
AI & Machine LearningFintechSaaS
Hannu-Tapani Leppänen(Founder)in
Co-investorsActivant CapitalDN CapitalFPVGlobal Founders Capital
Fixably provides a SaaS aftersales platform for repair businesses to manage device repair, refurbishment, and resale more efficiently.
Circular EconomyLogistics & Supply ChainRetail TechSaaS
Joel Mansnerus(Founder)in
Co-investorsCusp Capital468 Capital
Flowhaven is a platform designed to streamline global licensing operations by consolidating deal management, royalty tracking, approvals, and reporting into a single system.
Enterprise SoftwareLegalTechMedia & EntertainmentSaaSSector Agnostic
Kalle Törmä(Founder & CEO)in
Co-investors359 CapitalRiverside Acceleration CapitalGlobal Founders CapitalSapphire SportSapphire Ventures
Hoxhunt provides an AI-powered human risk management platform that automates security awareness and phishing training for enterprise employees through gamified, personalized simulations and interactive training modules.
AI & Machine LearningCybersecurityEnterprise Software
Mika Aalto(Founder)in
Co-investorsDawn CapitalLevel EquityRound2 Capital Partners
IPRally provides an AI-powered platform for patent professionals to search, analyze, and manage patents with greater speed and accuracy.
AI & Machine LearningEnterprise SoftwareLegalTechSaaSHelsinki, FI
Sakari Arvela(Co-Founder and CPO)inJuho Kallio(Co-Founder and CRO)inJuuso Piskonen(Co-Founder and Chief Architect)inDennis van der Veeke(CEO)inAndreas Cehlinder(CCO)inAntti Tarvainen(CTO)in
Co-investorsEndeit CapitalJoin CapitalSpintop Ventures
Klaus provides quality assurance software for customer support teams, using AutoQA to automatically analyze customer interactions—including those handled by AI agents—across channels such as voice and BPOs.
AI & Machine LearningEnterprise SoftwareSaaSSales Tech
Co-investorsActon CapitalCreandumGlobal Founders Capital
Logmore builds QR-based data loggers, cloud software, and API workflows for monitoring the condition of sensitive shipments, serving logistics and quality teams across food, pharma, and electronics supply chains.
HardwareIoTLogistics & Supply ChainSaaSStockholm, SE
Janne Juhala(Founder)inAntti TapioinNiko Polvinenin
Co-investorsNordicNinjaTrind Ventures
MVision AI develops medical imaging software used in radiotherapy, distributed to healthcare providers through a global network of regional distributors.
AI & Machine LearningDigital HealthHealthtechMedical Devices
Mahmudul Hasan(Founder)in
Co-investorsJ12 VenturesVoima Ventures
ReOrbit designs and manufactures advanced LEO and GEO satellites for connectivity, communication, and orbital intelligence, serving military, civil, and national security customers globally.
Deep TechDefense TechHardwareSpace TechHelsinki, FI
Sethu Saveda Suvanam(Founder)in
Co-investorsExpansion VenturesInventureRymdkapitalSeraphim Space10x FoundersInventure
Scrintal is a visual canvas tool that lets users organize and connect ideas block by block, combining thinking, writing, and sharing in one workspace.
AI & Machine LearningEdTechFuture of WorkSaaSStockholm, SE
Co-investorsSpintop Ventures
Sellforte is a marketing measurement and optimization platform that unifies marketing mix modeling, incrementality testing, and attribution into a single always-on system to calculate true incremental ROAS at the campaign and ad-set level.
AI & Machine LearningMarketing TechSaaS
Juha Nuutinen(Founder)inTeppo Luukkonen(Founder)in
Co-investorsBonnier CapitalBright Pixel Capital
Valpas provides bed bug detection and prevention solutions for hotels, focusing on safety and sustainability in guest accommodations.
HealthtechImpact & Social GoodPropTechParis, FR
Martim
Co-investorsGlobal BrainRockaway VenturesActivumMaki.vc
Workfellow is a real-time work intelligence platform that analyzes inefficiencies in work methods, systems, processes, and tools to identify automation and optimization opportunities for organizations.
AI & Machine LearningEnterprise SoftwareFuture of WorkSaaS
Co-investorsOpenOcean
Zymego provides a web app that lets patients in Sweden shorten their healthcare wait times by receiving notifications about earlier appointment slots when others cancel, and by rebooking or cancelling their own appointments.
Digital HealthHealthtechSaaS
Co-investorsIndustrifondenSpintop Ventures
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AlvinCachetClock & CloudCrewpointeBrandsEquel SocialGridravenHelppyLetterlifeLumoaLutsoOterlureconfiguredRoadcloudSense Of SpaceSensorless Dynamic Line RatingsTesseractWhippy
Portfolio news
latest coverage across their companiesHoxhunt · cipherssecurity.com · Sep 8, 2026
Aibidia · aibidia.com · Jul 3, 2026
ReOrbit · techfundingnews.com · Jun 26, 2026
Zymego · industrifonden.com · Jun 26, 2025
Scrintal · productivematters.substack.com · Jun 4, 2025
Frequently asked questions
- How many investments has Icebreaker made?
- Icebreaker has 36 tracked investments, 1 of which have exited, including 5 dated in the last 24 months.
- What stage does Icebreaker invest at?
- Icebreaker invests at the Pre-Seed, Seed, Series A stages.
- What is Icebreaker's typical check size?
- Icebreaker typically writes checks of $162K – $1.6M.
- What sectors does Icebreaker focus on?
- Icebreaker focuses on Consumer, Crypto & Web3, Data & Infrastructure, Enterprise Software, Hardware, Retail Tech, SaaS, Sector Agnostic.
- Where is Icebreaker located?
- Icebreaker is headquartered in Helsinki, FI.
- Does Icebreaker lead rounds?
- Icebreaker typically participates in rounds rather than leading them.
- Who does Icebreaker co-invest with?
- Icebreaker most often shares deals with Acton Capital, DN Capital, Endeit Capital, among 23 tracked co-investors.
Media · Podcasts & interviews
featuring the teamAleksi Partanen ja Icebreaker VC
Licence To Fail · Aleksi Partanen
Co-investors · 17
Global Founders Capital (GFC) is the global venture capital platform of Rocket Internet, investing early and across sectors in fast-growing technology companies.
Spintop Ventures is an early-stage venture capital firm that invests in software-based technology companies from the Nordics, helping them become sector leaders.
42CAP is a European seed-stage venture capital firm founded by entrepreneurs who previously built two of Europe's largest software companies. It invests in tech- and data-driven B2B software startups with global ambitions.
Sapphire Ventures partners with expansion-stage enterprise software companies aiming to become category leaders.
DN Capital is a global early-stage venture firm founded in 2000, investing in Seed, Series A and select Series B companies across Europe and North America.
Creandum is a venture capital firm that invests in technology companies, backing them at early stages before their potential becomes widely obvious.
Acton Capital is an early-growth-stage venture investor with over 25 years of industry experience, partnering with a small number of founder-led companies each year to support their growth strategies.
Inventure is a generalist early-stage venture capital firm investing primarily across the Nordics and Baltics, having backed over 100 companies since 2005.
FPV Ventures is an early-stage investment firm that backs mission-driven founders.
Point Nine is an early-stage venture capital firm that has operated for nearly 15 years, emphasizing focus over scale.
EQT Ventures is the venture capital arm within the EQT platform, backing early-stage European founders building what it calls Generation-Defining Companies.
Causal is a financial planning and analysis platform that enables finance teams to move beyond traditional spreadsheet-based planning by integrating data from multiple sources and providing dynamic forecasting, budgeting, and scenario planning capabilities.
▶5 more co-investors
Project A VenturesSuperAngel.FundChange VenturesElkstone Capital PartnersInnovestor
Firms observed investing alongside Icebreaker, from public investor directories. Shared companies are the overlap with Icebreaker's recorded portfolio.
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