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The Venture Codex

Spring Capital

Pärnu mnt 148, Tallinn, Harjumaa, 11317, Estonia

Overview

Investment firm focused on scalable tech startups and growth companies.

Founded

2008

Deals · 12mo

1

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed

Geographic focus

Australia
Canada
Estonia
Finland
...

Sector focus

—

Investment portfolio

15rounds
NAMEDATESIZE
Opalia
Apr 2026Participated
$2 MOther Equity
Salesforge
Apr 2024Participated
$0.50 MSeed
Outstaffer
Oct 2023Participated
$2 MOther Equity
Aerotruth
Dec 2022Participated
$1 MSeed
FoodDocs
Feb 2022Participated
$2 MOther Equity
EyeVi Technologies
Feb 2022Participated
$2 MSeed
Wonderway
Dec 2021Participated
$3 MSeed
Turing College
Sep 2021Participated
$1 MSeed
Remato
Aug 2021Participated
$2 MSeed
T-shirt Ventures
Jun 2021Led
$4 MOther Equity
Wolf3D
Aug 2020Participated
$1 MSeed
:Different
May 2020Participated
$7 MSeries A
Opalia
Apr 2026Participated
$2 MOther Equity
Salesforge
Apr 2024Participated
$0.50 MSeed
Outstaffer
Oct 2023Participated
$2 MOther Equity
Aerotruth
Dec 2022Participated
$1 MSeed
FoodDocs
Feb 2022Participated
$2 MOther Equity
EyeVi Technologies
Feb 2022Participated
$2 MSeed
Wonderway
Dec 2021Participated
$3 MSeed
Turing College
Sep 2021Participated
$1 MSeed
Remato
Aug 2021Participated
$2 MSeed
T-shirt Ventures
Jun 2021Led
$4 MOther Equity
Wolf3D
Aug 2020Participated
$1 MSeed
:Different
May 2020Participated
$7 MSeries A
15
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Spring Capital: 15 funding rounds are recorded in the selected participation categories.All available history.
Spring Capital: 15 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed28
Series A01
Other Equity13

Monthly Deal Activity

Spring Capital: 15 deals are recorded across 118 months.All available history.
Spring Capital: 15 deals are recorded across 118 months. All available history
MonthDeals
Jan '171
Feb '170
Mar '170
Apr '170
May '170
Jun '171
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '181
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '201
Jun '200
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '211
Sep '211
Oct '210
Nov '210
Dec '211
Jan '220
Feb '222
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '221
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '241
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '261
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Spring Capital: Enterprise Software is the largest displayed sector by deal count (6 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Spring Capital: Enterprise Software is the largest displayed sector by deal count (6 deals). All available history
SectorDeals
Enterprise Software6
Networks, Cloud & Communication6
Marketing & Advertising4
Media & Entertainment3
Education & Workforce2
Fintech2
Manufacturing2
Health & Life Sciences2
AI & Machine Learning2
Food & Agriculture2
Travel & Hospitality1
Data, Analytics & IT1
Real Estate & Construction1
Space & Frontier Tech1
Crypto & Blockchain1
Hardware & Robotics1
Professional Services1
Developer Tools1

Deal Size Distribution

Spring Capital: 15 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Spring Capital: 15 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M14
$5M-$10M1
$10M-$25M0
$25M-$50M0
$50M-$100M0
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Spring Capital: Europe has the largest recorded deal count among the displayed regions (8 deals).All available history.

Top 4 of 4 regions; European countries are grouped as Europe.

Spring Capital: Europe has the largest recorded deal count among the displayed regions (8 deals). All available history
RegionDeals
Europe8
Australia5
United States1
Canada1
Spring Capital: 20 co-investors are shown, with Iron Wolf Capital sharing 2 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Spring Capital: 20 co-investors are shown, with Iron Wolf Capital sharing 2 recorded deals. All available history
Co-investorShared deals
Iron Wolf Capital2
Kaamos Group2
Superangel2
1in100 Ventures1
AfterWork Ventures1
AirTree Ventures1
Alua Group1
Anges Québec1
Archangel Ventures1
BADideas.fund1
Beachhead1
Black Pearls VC1
Black Sheep Capital1
Bonnier Ventures1
BoxOne Ventures1
Business Finland1
Change Com1
Contriber Ventures1
Copenhagen Business Angel network1
Cut Through Angels1

Investment Strategy

Spring Capital: Led accounts for 20% and participating for 80% of round participation.All available history.
Spring Capital: Led accounts for 20% and participating for 80% of round participation. All available history
CategoryDeals (count)Share (%)
Led320%
Participating1280%
Spring Capital: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
Spring Capital: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead267%
Co-led133%

Team

Henri Treude

Founding Partner

Theodor Kaljo

Investment Manager