Europe’s Largest Gen Z VC Firm Triples Third Fund to $7.8M

News World

Published by Stephen Oluwadara at May 19, 2025

Wave Ventures is Built By And For Gen Zs

Wave Ventures, founded in 2016 in Helsinki, is currently led by Antonia Eneh. The launch of Wave’s Fund III coincides with the advancement of generative AI, no-code tools, and open-source technologies, which are making entrepreneurship more accessible than ever. For Gen Zs who are digital natives with a global mindset, the barriers to building and scaling technology startups have never been lower.

“AI is unlocking a new era of speed and scale: young founders are moving faster than ever, thinking bigger, and building globally from day one,” Antonia Eneh, CEO of Wave Ventures, said in a press release. “This generation understands the problems that matter and has the tools to solve them. Wave is built to find them and back them first.”

Unlike a typical VC fund run by experienced professionals, it is operated entirely by a rotating team of top university students embedded in the startup ecosystems of Helsinki, Stockholm, and Tallinn.

This unique approach gives Wave a frontline view of emerging innovation, often before these ideas reach traditional venture capital. This strategy has enabled the VC to build a standout track record: nearly 80% of VC-backed Finnish startups led by CEOs under 30 have received early investment from Wave.

The firm has made over 50 early-stage investments and continues to lead the way in identifying promising Gen Z-led companies long before they enter mainstream VC pipelines.

Next Steps For Wave Ventures

Wave’s investment model focuses on a core principle: proximity to the next generation of builders. This structure gives Wave real-time access to the communities where the most ambitious Gen Z founders are found. Some of its previous investments include Inven, Intergrid, Exa Laboratories (YC S24), Vetnio (YC W25), Paebbl, Normative, and Carbo Culture.

With this third fund, Wave hopes to expand this approach across the Nordics and Baltics. The Gen Z-led venture capital plans to scale its operations across these regions. It will also deepen its presence in university startup ecosystems and continue supporting the region’s most driven founders.

Wave is setting a new standard for early-stage venture capital firms in Europe by maintaining its hands-on, founder-first approach and surrounding itself with a powerful community of investors and mentors.

Cal Henderson, co-founder of Slack, said: “Wave Ventures has a truly unique advantage, connecting to the most promising young European entrepreneurs before any other investors could ever have them on their radar. Having seen firsthand the incredible talent and drive of the youth emerging from Finland and the Nordics, I believe we’re about to witness a wave of incredible new companies built by this next generation of founders.”

Wave Ventures is ready to invest differently for a generation that builds differently. It plans to invest in 3 to 10 new teams per country each year, focusing on first-ticket angel and pre-seed rounds up to €100,000 ($111,111).

Main Image: Wave Ventures Team, Image Credit: Wave Ventures