New €21M Inception Fund targets early-stage AI ventures across the New Nordics
A new generation of Nordic founders is stepping forward — and now, they have a fund built just for them. Stockholm-based Inception Fund has launched a €21 million micro fund designed to back startups at the “day-zero” stage, when ideas are still taking shape. The fund targets AI and B2B software ventures across the New Nordics , uniting talent from Sweden, Finland, and the Baltic states. It’s led by Oliver MolanderDealroom has a profile for this one. Try Dealroom → , Caroline CronstedtDealroom has a profile for this one. Try Dealroom → , and Erik LinbladDealroom has a profile for this one. Try Dealroom → , with Peter SarlinDealroom has a profile for this one. Try Dealroom → , founder of Silo AI (acquired by AMDDealroom has a profile for this one. Try Dealroom → in 2024), joining as a founding LP and partner.
The backers list reads like a who’s who of Nordic tech: Taavet HinrikusDealroom has a profile for this one. Try Dealroom → (Wise), Sten TamkiviDealroom has a profile for this one. Try Dealroom → , King cofounderSebastian KnutssonDealroom has a profile for this one. Try Dealroom →, and founders from Lovable , Sana , Legora , Tandem Health , and Aris Machina . Nordic researchers at OpenAI and DeepMindDealroom has a profile for this one. Try Dealroom → have also joined in. For Molander — who was an early investor in Lovable and Tandem Health — this marks the next phase of the region’s evolution: one where technically ambitious founders are no longer afraid of global scale.
Inception Fund blends the flexibility of an angel syndicate with the structure of a venture fund, moving earlier than most — sometimes before the startup even exists. The team’s mission is to rebuild the cross-border spirit that once produced companies like Skype and MySQL , with Stockholm as the epicenter . The fund has already made more than ten investments, including Tzafon , VesenceDealroom has a profile for this one. Try Dealroom → , VantelDealroom has a profile for this one. Try Dealroom → and ScapeDealroom has a profile for this one. Try Dealroom → , with plans to back around 50 companies in total. It’s a bet that the Nordics’ next wave of AI breakthroughs will start before the first line of code is even written.
A.M.
