Wave Ventures

General Partners Emmi Nuorgam and Lassi Isonikkilä lead investment decisions. Both founded the firm while still students at Aalto University in 2016 and remain its primary deal architects. No external investment committee has been disclosed.

The firm sources predominantly through university networks, with a pipeline anchored in the Aalto University ecosystem and extended through Nordic technical universities in Stockholm, Tallinn, and Copenhagen. Its general partners' status as student-founders themselves — and participation in events like Slush — gives them access to graduating technical founders before traditional venture funds begin diligence.

Wave Ventures is a traditional venture capital firm raising institutional and individual limited-partner capital, not a family office. It launched in 2016 as a partnership with external LP backing and has scaled through successive fund vintages.

The firm writes first checks at pre-seed and seed stages. It does not publicly state participation in later-stage rounds. Its initial Fund I operated with a micro-fund vehicle size, focusing on earliest-stage technical founding teams.

The firm concentrates on the Nordic and Baltic regions, with disclosed activity in Finland, Sweden, Estonia, and Denmark. It has not communicated a mandate expansion beyond Northern Europe.

All publicly available information describes Wave Ventures as a direct-investment firm making equity investments into operating companies. There is no disclosure of fund-of-funds commitments or secondary market activity.

Wave Ventures raised approximately €500,000 for its debut fund in 2016. A second institutional vehicle entered deployment in late 2024. The firm has not publicly disclosed the final close size of Fund II (per Sifted, 2024).