Wellstreet Journal - 5 / 2023

Hello friends,

After what we hope has been a relaxing summer, we navigate towards an eventful fall. In this edition, we'll share our insights in how to navigate dirty term sheets in this new landscape, some exciting portfolio news, and a couple of fall reading recommendations. Get the full picture below - grab your coffee and dive in!

Cheers,
Team Wellstreet

Wellstreet News.

🛎️  Wellstreet was featured in Sifted’s list of VCs baking environmental, social and governance considerations into their investing in a formal way by registering their funds under Article 8 or 9 of the European SFDR regulation. We are very happy to be alongside fellow European VCs walking the walk for a better tomorrow 🤝🌍

🛎️ Our Managing Partner Evelina Anttila held an appreciated speech earlier this year on Breakit’s Funding Day. The theme was how a founder properly should assess investment term sheets. With her experience as an investor, M&A lawyer and startup operator Evelina has seen many term sheets and decided to formalise her experiences and learnings in writing. You can now read her article "Navigating the risks of “dirty” term sheets" and join the conversation.

🛎️ Fall means event season, and these are some of the upcoming events where you can find the Wellstreet team attending or taking the stage:

⬥ ESG_VC: The Road Ahead - London, September 26
⬥ Oslo Innovation Week - Oslo, September 25-29
⬥ Nordic Fintech Week - Copenhagen, September 27-28
⬥ Gothenburg Tech Week - Gothenburg, October 10-12
⬥ Di Digital Female Founders - Stockholm, October 11

Portfolio Highlights.

Wellstreet Ventures News.

Anatomic Studios was shortlisted as a promising Nordic startup by Fast Track Malmö. The company also launched in two new countries, Estonia and Egypt.🦿

Brink Commerce and its partner Turnr’s first venture is Bianca Ingrosso’s premium environmentally-friendly brand ÀVORA. The company also closed another great partnership - with Babyshop. 💪

DanAds’s 2022 was a success, and the highlight was the USA market, reports Breakit. ✨

Gamifiera is supplying the newly launched Apohem’s loyalty program. 🔁

Hyber shared some behind the scenes about how the company was created and the thought process behind it. 👶

Joina‘s new bootcamp is a fantastic initiative helping many people get back in a healthy rhythm after the summer. 🤸

Sisterly Tribe dropped its beautiful new collection and got into people’s minds with this feature in Vogue. 🧘

Skillbreak just launched Skillbreak Events, a platform to create and book events, lectures, seminars, pop-ups, or openings, online or physically. 🛫

Y/ELM+ Protection’s products are THE recommendation for safety from rider niche outlet Hästnet. The products were also featured in Häst Liv. 🐎

YMR Track Club dropped its trendy new collection and announced a remarkable collaboration with Samsung, highlighting some of the new Galaxy Watch6 important features for runners. 🏃⌚

Wellstreet Fintech News.

Enable Banking is one of this year's Fintech Zone Finalists at the prestigious EBAday 2023. 🔝 🌍

Esgaia: Rickard Nilsson’s article for ESG Investor remarks on the need for the market for engagement and stewardship systems to evolve, for example, beyond Excel. 🗂️

Future of Retail will host a webinar with Setterwalls on Sep. 20, at 10:00, deep-diving into the challenges and opportunities of retail in these troubled times. Sign up!

Maintract announced Maintract Negotiate, a revolutionary solution for seamless real-time document collaboration. 📑

Food for thought.

⬥ Which industry has gained the most VC funding in the Nordics and which Nordic VC are the most active looking at the number of investment rounds? We like statistics and in A Guide to the Nordics Startup Landscape (Dealroom) you get some interesting data on the Nordic VC landscape.  

⬥ We all know the fast fashion industry is harming our environment, but what can the regulators and our society do to make the fashion industry more sustainable? We recommend everyone to read the article Can fast fashion kick its dirty habits? (Financial Times, Lauren Indvik and Alice Hancock) to deep dive on the complexities at hand leading the fast fashion industry to continue their rule.

⬥ The distribution of venture capital to minorities and women is a global issue. The UK Treasure committee recently challenged the allocation of funding by UK VCs revealed by new disappointing diversity statistics, and are calling on the industry to improve the figures. Read more here: MPs challenge VC firms over record on female and minority-led firms (The Guardian, Joanna Partridge)

⬥ Speaking of diversity issues, new studies have found that Swedish women started only half as many companies as men last year. Sweden stands out on a European level and is amongst the countries with the lowest percentage of female-run businesses in the EU. Learn more: Sweden stands out - few women run their own business (TT, Omni)

⬥ Enable Banking asked its partner Gokind about how banks can go beyond ESG compliance and thrive in the evolving financial landscape by leveraging impact data

⬥ Finally, we recommend Underestimated start-up founders: The untapped opportunity McKinsey Report) to explain what the opportunity might be in promoting underrepresentative startup founders. As the article states; “these founders are not just underrepresentative they are underestimated” and we cannot agree more.

Portfolio opportunities.

⬥ Brink Commerce: Senior Software Engineer
‍⬥ ICIW: Business Controller and Head of Product & Design

Just one more thing! Are you looking for an office space for your company? Come talk and sit with us at The Factory, either in our spatial office coworking or in a larger office only for your company on another floor. Contact our Head of Hubs Amanda Livh at amanda@wellstreet.vc to know more.

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That’s all from us for now! 👋 Have a great start to the autumn!

If you have any questions or suggestions for future newsletter topics, please don't hesitate to reach out to us at contact@wellstreet.vc.

The Wellstreet Team