Many team members at Unicorn Nest are Ukrainians affected by Russian aggression. We do our best to solve any issues and answer your questions in the shortest possible time frames but some delays are possible.

OpenOcean

Founders Michael Widenius Patrik Backman Ralf Wahlsten

Overview

Investments

Unlock datapoints

Portfolio analytics

Team

News & Media

Add fund to favorites
info
Save this fund for later to form your own custom list of funds
This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.

Need help with fundraising?

We offer an assisted fundraising option for startups

Learn more
Total investments 81
Average round size
info
The average size of a deal this fund participated in
$12M
Portfolio companies 44
Rounds per year 5.40
Lead investments 20
Follow on index
info
How often the fund supports its portfolio startups at next rounds
0.46
Exits 3
Key employees 7
Stages of investment
Early Stage Venture

Areas of investment

  • Software
  • Big Data
  • Analytics
  • Information Technology
  • SaaS
Summary

OpenOcean appeared to be the VC, which was created in 2011. The leading representative office of defined VC is situated in the Helsinki. The company was established in Europe in Finland.

When the investment is from OpenOcean the average startup value is 100-500 millions dollars. Comparing to the other companies, this OpenOcean performs on 25 percentage points less the average number of lead investments. The usual things for fund are deals in the range of 5 - 10 millions dollars. The top activity for fund was in 2014. The higher amount of exits for fund were in 2019. The fund is constantly included in 2-6 deals per year. The real fund results show that this VC is 15 percentage points more often commits exit comparing to other companies.

The fund was created by Patrik Backman. Besides them, we counted 10 critical employees of this fund in our database.

The typical case for the fund is to invest in rounds with 3-4 participants. Despite the OpenOcean, startups are often financed by Wellington Partners, Piton Capital, Louis Monier. The meaningful sponsors for the fund in investment in the same round are Tesi, Wellington Partners, Earlybird Venture Capital. In the next rounds fund is usually obtained by Tesi, Wellington Partners, Piton Capital.

We can highlight the next thriving fund investment areas, such as Mobile, SaaS. Among the various public portfolio startups of the fund, we may underline Booksy, MariaDB Corporation, Oppex For fund there is no match between the country of its foundation and the country of its the most frequent investments - United States. The fund has no specific favorite in a number of founders of portfolio startups. When startup sums 5+ of the founder, the probability for it to get the investment is little. Besides, a startup requires to be at the age of 4-5 years to receive the investment from the fund.

Read more

Related Funds

Funds investing in previous rounds
These funds often invest in the rounds preceeding the rounds of OpenOcean:
Typical Co-investors
OpenOcean is more likely to invest in rounds together with the following funds:
Funds investing in following rounds
These funds have a tendency to invest in the following rounds after OpenOcean:

Funds with similar focus

Funds from Finland
Funds with similar focus located in Finland:
Funds with the same geo focus
Funds with similar geography of portfolio companies:
Funds doing lead investments
Funds with similar focus acting as lead investors:

Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

Workfellow

Artificial Intelligence
Business Intelligence
Enterprise Software
Machine Learning
Software
$3M07 Feb 2024 Espoo, Southern Finland, Finland

Binalyze

Cyber Security
Information Technology
Law Enforcement
Software
$19M12 Sep 2023 Tallinn, Harju maakond, Estonia

MindsDB

Computer
Enterprise Software
Machine Learning
Open Source
Predictive Analytics
Software
$5M08 Aug 2023 Berkeley, California, United States

Hygraph

CMS
Content
Content Creators
Information Technology
Software
$30M29 Mar 2023 Berlin, Berlin, Germany

Sunlight.Io

Big Data
Information Technology
Virtualization
26 Jan 2023 Cambridge, England, United Kingdom

api.video

Developer Platform
Enterprise Software
Video Streaming
$12M13 Dec 2022 Bordeaux, New Aquitaine, France

LatticeFlow

Artificial Intelligence
$12M26 Oct 2022 Zurich, Zurich, Switzerland

kevin.

Banking
FinTech
$72M03 May 2022 Vilnius, Vilnius County, Lithuania

Strong Network

Software
$6M18 Mar 2022 Lausanne, Vaud, Switzerland
News
PassFort Secures $16.2M in Series A Funding

– PassFort is a London, UK-based SaaS RegTech platform.
– The company raised 16.2m USD in Series A funding.
– The round was led by Level Equity, with participation from existing investors OpenOcean, Episode 1 and Entrepreneur First. $4.89m worth of venture debt was also provided by Shard Credit Partners.
– The new investment will be used to expand the company’s global growth plans.

Cambri Raises €3.6M in Series A Funding

– Cambri, a Helsinki, Finland-based market research automation and SaaS startup that accelerates product and concept testing of consumer brands, raised €3.6M in Series A funding.
– The round was led by OpenOcean and Spintop Ventures.
– The company intends to use the funds to continue to expand operations and its business reach.

Review

  • No reviews are submitted yet.
Do you want more?
We provide dozens of additional datapoints about this fund.
Sign up and get access to full fund profile and advanced analysis.
Full team
Industries heatmap
Stages heatmap
Georgaphy breakdown
Coinvestors
Portfolio analysis
Performance indexes
Latest highlights
Unlock all data
Do you represent OpenOcean?
Get access to manage this page
Get in touch
Found incorrect info? Let us know!
Total investments 81
Average round size 12M
Rounds per year 5.40
Peak activity year 2021
Lead investments 20
Follow on index 0.46
Exits 3
Group Appearance index 0.89

Latest deals

CompanyIndustryRound SizeDateInvestorsLocation

Workfellow

Artificial Intelligence
Business Intelligence
Enterprise Software
Machine Learning
Software
$3M07 Feb 2024 Espoo, Southern Finland, Finland

Binalyze

Cyber Security
Information Technology
Law Enforcement
Software
$19M12 Sep 2023 Tallinn, Harju maakond, Estonia

MindsDB

Computer
Enterprise Software
Machine Learning
Open Source
Predictive Analytics
Software
$5M08 Aug 2023 Berkeley, California, United States

Hygraph

CMS
Content
Content Creators
Information Technology
Software
$30M29 Mar 2023 Berlin, Berlin, Germany

Sunlight.Io

Big Data
Information Technology
Virtualization
26 Jan 2023 Cambridge, England, United Kingdom

api.video

Developer Platform
Enterprise Software
Video Streaming
$12M13 Dec 2022 Bordeaux, New Aquitaine, France

LatticeFlow

Artificial Intelligence
$12M26 Oct 2022 Zurich, Zurich, Switzerland

kevin.

Banking
FinTech
$72M03 May 2022 Vilnius, Vilnius County, Lithuania

Strong Network

Software
$6M18 Mar 2022 Lausanne, Vaud, Switzerland
Crunchbase icon

Content report

The following text will be sent to our editors: