Initial Capital
Investor profile
Investment firmVenture capital
Initial Capital has backed 32 European tech companies across 35 funding rounds between 2010 and 2022, joining rounds totalling €148M. Most active in Gaming and Fintech. Data as of 4 Nov 2026.
Deals
35
distinct rounds
Companies
32
backed
Active span
2010–2022
13 yrs
Total round €
€148M
sum of rounds joined
Deals by year
distinct rounds / yearInitial Capital — deals by year — interactive chart.
Data table
| Initial Capital — deals by year | |
|---|---|
| 2010 | 1 |
| 2011 | 3 |
| 2012 | 2 |
| 2013 | 2 |
| 2014 | 2 |
| 2015 | 9 |
| 2016 | 4 |
| 2017 | 6 |
| 2018 | 2 |
| 2019 | 1 |
| 2021 | 2 |
| 2022 | 1 |
Top sectors
by dealsInitial Capital — top sectors — interactive chart.
Data table
| Initial Capital — top sectors | |
|---|---|
| Gaming | 20 |
| Fintech | 5 |
| Software | 3 |
| Edtech | 3 |
| E-commerce | 2 |
| Media | 2 |
| Hardware | 1 |
| Travel | 1 |
| Transportation | 1 |
| Consumer | 1 |
Stages
by dealsInitial Capital — stages — interactive chart.
Data table
| Initial Capital — stages | |
|---|---|
| Seed | 16 |
| Series A | 9 |
| Other | 5 |
| Early VC | 3 |
| Series C | 1 |
| Series D+ | 1 |
Countries
by dealsInitial Capital — countries — interactive chart.
Data table
| Initial Capital — countries | |
|---|---|
| UK | 13 |
| Finland | 12 |
| Netherlands | 2 |
| Sweden | 2 |
| Belgium | 1 |
| Czech Republic | 1 |
| Iceland | 1 |
| Norway | 1 |
| Spain | 1 |
| Switzerland | 1 |
Co-investment network
shared roundsCo-investment network — interactive chart.
Hover a node for shared-deal counts; click a co-investor to open its profile.
Best viewed on a larger screen.
Frequent co-investors
shared rounds- Index Ventures7
- London Co-Investment Fund6
- Backed VC3
- Creandum3
- Lifeline Ventures3
- PROfounders Capital3
- Accel2
- Chrystal Capital2
- Connect Ventures2
- DN Capital2
- Force Over Mass Capital2
- Northzone2
- Sunstone Capital2
- 5square1
- 83North1
- Alex Macdonald1
- AllBright1
- American ExPREss Ventures1
- Anil Hansjee1
- Barclays1
- Capital3001
- Cassius Family Fund1
- Christopher Spray1
- Courtside Ventures1
- Credo Ventures1
Portfolio
top 30 by total round €| Company | Country | Rounds | Total € |
|---|---|---|---|
| iZettle | Sweden | 1 | €60M |
| Velocity | UK | 1 | €11M |
| Armada Interactive | Finland | 2 | €9.0M |
| Supercell | Finland | 2 | €8.9M |
| Space Ape Games | UK | 2 | €7.7M |
| Resolution Games | Sweden | 1 | €5.5M |
| Snatch | UK | 1 | €5.0M |
| Tech Will Save Us | UK | 1 | €3.5M |
| Umbra | Finland | 1 | €3.0M |
| Medal | Netherlands | 1 | €3.0M |
| Pok Pok | Belgium | 1 | €2.9M |
| Peak | UK | 1 | €2.3M |
| miDrive | UK | 1 | €2.2M |
| Oppex | Finland | 1 | €2.1M |
| Debut | UK | 1 | €1.9M |
| Grey Area | Finland | 1 | €1.8M |
| Ministry of Games | Finland | 1 | €1.8M |
| Surrogate | Finland | 1 | €1.8M |
| Singa | Finland | 1 | €1.8M |
| PlayPulse | Norway | 1 | €1.7M |
| BUX | Netherlands | 1 | €1.7M |
| Polystream | UK | 1 | €1.4M |
| Traplight Games | Finland | 1 | €1.3M |
| Order of Meta | Finland | 1 | €1.3M |
| WINKO games | Spain | 1 | €1.3M |
| Authenteq | Iceland | 1 | €1.2M |
| BERG Cloud | UK | 1 | €1.0M |
| Hostmaker | UK | 1 | €900k |
| Quikkly | UK | 1 | €801k |
| Nexmo | UK | 1 | €386k |
Biggest deals
top 10 by amount| Company | Stage | Amount | Date |
|---|---|---|---|
| iZettle | Series D+ | €60M | 2015-08 |
| Velocity | Series A | €11M | 2015-06 |
| Supercell | Series A | €8.1M | 2011-05 |
| Armada Interactive | Seed | €6.4M | 2017-02 |
| Space Ape Games | Series C | €5.6M | 2014-12 |
| Resolution Games | Series A | €5.5M | 2015-08 |
| Snatch | Seed | €5.0M | 2017-11 |
| Tech Will Save Us | Series A | €3.5M | 2018-01 |
| Umbra | Series A | €3.0M | 2015-10 |
| Medal | Seed | €3.0M | 2019-01 |