Project North Europe Ventures Early-Stage Venture Capital · Northern Europe · AMC Structure

Project North Europe Ventures Early-Stage Venture Capital · Northern Europe · AMC Structure

KEY METRICS

€15.4M — Current Valuation (From €2.5M initial capital) 29.6% — IRR (For early investors) 17 — Portfolio Companies (€2M deployed to date) €10M — AMC Issue Size (Min. ticket €50,000)

FUND DESCRIPTION

Project North Europe Ventures is an early-stage venture capital strategy targeting Northern Europe, founded and managed since 2019. The team combines deep regional expertise with a proprietary network of advisors, angels and VCs, and applies a rigorous, metric-driven process to identify and back the region's most promising companies.

Starting with €2.5M in initial capital, the strategy has deployed €2M into a portfolio of 17 startups, growing to a current valuation of €15.4M — generating 29.6% IRR for early investors.

The fund is now raising €10M via an Actively Managed Certificate (AMC), giving qualified investors direct private market exposure through any standard brokerage account — without the operational complexity of a traditional private equity fund.

INVESTMENT STRATEGY

• Seed & pre-Series A — post-revenue, proven product-market fit

• Secondary equity — buying stakes from early funds & angels

• Special situations — distressed deals at significant discount

• Target exit multiple — 5x+ via M&A, IPO or secondary sale

• Minority stakes up to 10% — non-intrusive governance

WHY NORTHERN EUROPE

• 65 unicorns produced — most per capita in Europe

• €797M raised in Series A and prior rounds in 2024

• Top 10 Global Innovation Index: Sweden, Finland, Estonia

• Highest per capita early-stage investment in the world

• 50% outside investor participation — globally connected ecosystem

TRACK RECORD

Portfolio valuation grew from €2.5M (2019) to €15.4M (November 2025):

2019 — €2.5M · Initial capital deployed 2021 — €9.6M · First valuation milestone 2022 — €12M · Portfolio scaling 2023 — €8M · Market correction; portfolio repriced Nov 2025 — €15.4M · Current valuation

SELECTED PORTFOLIO COMPANIES

Corebook · Brand management platform · SaaS Asya · Emotional AI analysis · AI Lerio · Team management platform · HR Tech Legid · Legal tech platform · Legal Tech MoreMins · eSIM & international calls app · Consumer Tech Bercman · Smart city & urban safety tech · AI

AMC STRUCTURE & TERMS

Issue Size: EUR 10,000,000 Min. Investment: EUR 50,000

ADVANTAGES OF THE AMC STRUCTURE

• Brokerage Access — buy & sell via your existing brokerage account; no PE-fund onboarding required

• Daily Liquidity — daily buy/sell via secondary market using the ISIN

• Diversified Exposure — 35–50 startups in one instrument, single ticket

• Active Management — run by an experienced regional investment team with 6+ years track record

• Regulated Wrapper — securitised via Luxembourg SPV; Swiss-regulated

• Transparent Reporting — regular NAV reporting and full portfolio transparency

EXPECTED RETURNS & PORTFOLIO ALLOCATION

35–50 Companies (Diversified) 30% Annual Appreciation (NAV growth) 4–5x Exit Multiple (Per deal) 75% Survival Rate (Portfolio quality) 2–4 Exits per Year (Liquidity) Year 3+ Dividends (Timing)

Target Sector Allocation: Software & SaaS 34% · Consumer Tech 25% · AI & ML 13% · Logistics & Mobility 10% · HR Tech 8% · Leisure & Social 6% · FoodTech 4%

PLACEMENT AGENT — CONTACT

Valters Gencs · M&A Advisor / Attorney at Law · VG Advisors Email: info@gencs.eu WhatsApp / Telegram: +371 29265441 Web: vgfintechadvisors.com · fintechadvisors.co.uk London: 205 Regent Street, 4th Floor, London W1B 4HB Riga: Republikas laukums 3-123, LV-1010 Vilnius: Basanavičiaus 26, LT-03109

CONFIDENTIAL — For informational purposes only. Does not constitute an offer to invest. For the named recipient only. Past performance is not indicative of future results. All figures in EUR. IRR and valuation figures are based on internal estimates and have not been independently verified. Reproduction or distribution without the prior written consent of VG Advisors is prohibited.

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