International law firm Bird & Bird successfully advised Leo Capital, a well-known venture capital fund manager, on the formation of their Nordic Fund. The fundraising of the fund is still ongoing.
Targeting a fund size of €25 million, the fund has already achieved its first close, with plans to invest in approximately 25 business-to-business (B2B) tech startups across the Nordic region. The capital raised from Business Finland Venture Capital, along with existing and new investors, will be allocated to support Nordic startups from the pre-seed stage, with initial investments ranging from $250,000 to $400,000 per startup.
Henry Goodwin, Partner at Leo Capital, commented: “Bird & Bird’s expertise in venture capital and tax law was instrumental in setting up our first Nordic fund. Their understanding of both the legal complexities and the local market dynamics allowed us to focus on backing capable, ambitious, and resilient founding teams and helping them scale across borders.”
Ville Alahuhta, Partner and Head of Tax Finland at Bird & Bird concludes: “We are committed to providing a comprehensive service within the VC space, ensuring that all our clients’ legal and tax needs are met. Our successful partnership with Leo Capital is a sign that this has been achieved. “
Our core team, led by partner Ville Alahuhta (Tax) and supported by partner Mika Puurunen (Capital Markets), associate Joel Rautiainen (Corporate), associate Rondy Stenman (Financial Regulation), and associates Matias Vikström and Elina Kaartinen (Tax), advised Leo Capital in all tax and legal matters related to the formation of the fund.
