byFounders announces the launch of Fund III

The Nordic venture capital fund byFounders has announced the launch of its third fund. With Fund III, byFounders continues to back early-stage tech companies in the New Nordics. The launch marks a milestone that reinforces byFounders’ position as one of the leading early-stage venture funds in the region.

byFounders was founded in 2017 with the vision of creating a founder-first venture fund in the Nordics that matches the ambitions of the leading global venture capital funds. With Fund III, byFounders strengthens its position in the Nordic venture capital ecosystem and continues its community-powered investment model. 

The fund is backed by its Collective, a group of leading Nordic entrepreneurs who actively contribute their experience, networks, and expertise to portfolio companies. The investment strategy remains focused on early-stage tech companies in the New Nordics. A recent example of byFounders’ early-stage engagement is the Swedish AI company Lovable, which achieved annual revenues exceeding 120 million USD within only eight months of launching its product. In its recent Series A round, led by Accel, the company was valued at 1.8 billion USD, with byFounders continuing to back the company as one of its large investors.

Mazanti Transactions has advised byFounders since 2017, when the team first set out to create what has become byFounders today. From the launch of the first fund through Fund II and now Fund III, Mazanti has been a close partner. The transactions team have advised at every stage - covering all phases from early discussions on fund structure, fund scope, and setup to successful closing, while also advising on all investments made from the byFounders' funds.