Icebreaker announced second closing of its second fund at €100 million and raised a separate €20 million.

Icebreaker, a Helsinki, Finland-based pre-seed venture fund, announced the closing of two new funds.

The first is a second closing at €100 million ($120M) of its second investment fund announced in 2020.

The second is an extension of the debuting fund from 2017, meant to continue investments in existing portfolio companies.

Icebreaker was founded by Lasse Lehtinen, Aleksi Partanen and Riku Seppala, in 2017 and has made roughly 50 investments since then. Notable transactions include Kodit, Flowhaven, Logmore or Klaus.