Superhero Capital

Superhero Capital is a Helsinki-based venture capital firm specializing in seed-stage investments in software-driven startups across Finland and the Baltics. The firm typically invests between €100,000 and €1 million, focusing on companies that create competitive advantages by refining data into insight. Since its founding in 2015, Superhero Capital has backed over 50 startups, with notable exits including Leadfeeder, Zadaa, and Flowplayer.

In January 2025, Superhero Capital launched its fourth fund, targeting €50 million, with limited partners including Elo Mutual Pension Insurance Company and the Finnish state-owned venture capital and private equity company Tesi. The fund complies with the EU’s SFDR Article 8 as a sustainable fund. The first investments from the new fund include CyberUpgrade, a Lithuanian cybersecurity startup, and Behavix, an AI company that analyzes online behavior.

The firm has expanded its operations into Lithuania, with Gytenis Galkis and Audrius Milukas joining as partners, extending its presence across Finland, Estonia, Latvia, and Lithuania. Superhero Capital continues to support early-stage innovation across the Baltic region, with over 40 active portfolio companies and more than 150 supported founders.