What Overkill Ventures does

Overkill Ventures is a Latvia-based venture capital firm (legal entity: Overkill Ventures AIFP SIA, registered in Riga) that invests in pre-seed and seed stage technology startups across the Baltics, Nordics, CEE and CIS regions. The firm operates two closed-end fund vehicles — Overkill Fund I (investment period ended 2021) and Overkill Fund II (investment period ended 2023) — and has deployed capital into 38 pre-seed portfolio companies spanning AI, SaaS, legaltech, fintech, healthtech, agtech, deep tech and hardware, achieving multiple exits. Both funds are now in post-investment harvest mode; the firm is no longer making new investments but continues follow-on rounds and manages existing positions. Its three General Partners (David Ventzel, Peter Marculans, Dmitry Saikovsky) simultaneously operate two active sister funds: Accelerace (Copenhagen-based, pre-seed Nordics/Baltics) and New Nordic Ventures (seed-stage B2B software CIS/CEE), which absorb regional deal flow that Overkill itself can no longer underwrite.

The firm's core "product" is its capital and structured startup support program offering portfolio companies strategic guidance on beachhead market analysis and business positioning. Revenue mechanics for a VC fund of this profile are twofold: management fees on committed capital during the investment period (now tapering to zero) and carried interest realized upon portfolio exits. No AUM, fund size, fee schedule, or exit values are publicly disclosed. Distribution relies on the firm's website pitch funnel, GP LinkedIn presence, and ecosystem referrals from sister funds; there is no evidence of institutional marketing infrastructure or institutional LP base disclosure. The firm is not raising a successor Overkill-branded fund based on available information, suggesting its strategic center of gravity is shifting to its sister vehicles rather than further Overkill fund vintages.

Name

Overkill Ventures

Legal name

Overkill Ventures AIFP SIA

Website

https://overkill.vc

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Overkill Ventures is a Riga-based venture capital firm that invested in 38 pre-seed startups across the Baltics, Nordics, CEE and CIS through two now-closed funds, currently in portfolio harvest mode while its three GPs run active sister funds Accelerace and New Nordic Ventures.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

Keywords

• Venture capital funding
• Pre-seed investments
• Seed stage capital
• Startup portfolio management
• Early-stage investing

Headquarters

HQ city

Riga

HQ country

Latvia

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Venture Capital Returns: As a VC fund, Overkill generates returns through equity investments in portfolio companies. Returns are realized through exits (acquisitions, IPOs). The fund has had multiple exits from its 38 pre-seed investments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Overkill Ventures is a venture capital firm that invests in pre-seed and seed stage technology startups across the Baltics, Nordics, CEE, and CIS regions. The firm manages two investment funds (Overkill Fund I and Fund II), has backed 38 pre-seed startups, and has achieved multiple portfolio exits. Although no longer making new investments, Overkill's three General Partners also manage sister funds—Accelerace (pre-seed Nordics/Baltics) and New Nordic Ventures (seed B2B software CIS/CEE)—which continue active investing.

Product overview

Overkill Ventures is a venture capital firm that operates as a unified fund management structure offering two distinct investment funds (Fund I and Fund II) targeting pre-seed and seed stage startups across the Baltics, Nordics, CEE, and CIS regions. The firm operates sister funds (Accelerace and New Nordic Ventures) that are actively investing, while Overkill itself has concluded its investment periods and is no longer making new investments. The firm also provides a structured startup support program offering strategic guidance on market beachhead positioning and business structuring to its portfolio companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Overkill Fund I Overkill's first investment fund, which has completed its investment period and recorded multiple exits. Fund I portfolio companies span AI, legaltech, fintech, and various SaaS verticals.
• Overkill Fund II Overkill's second investment fund focusing on pre-seed stage startups across the Baltics, Nordics, CEE and CIS regions. Fund II portfolio includes companies in AI, SaaS, and deep technology sectors.
• Overkill Program Startup support program offered by Overkill providing portfolio companies with strategic guidance including beachhead market analysis and business positioning structure.

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Antler: Global early-stage VC/accelerator with active presence in the Nordics and CEE. Broader incumbent that competes for the same pre-seed deal flow but operates at much larger scale across multiple geographies.

Direct peers

• Karma Ventures: Estonia-based early-stage VC investing across the CEE/Nordics region. Comparable geography and stage focus, with similar portfolio construction across B2B software and deep tech.
• Vendep Capital: Helsinki-based early-stage SaaS-focused VC active across the Nordics and Baltics. Comparable pre-seed/seed B2B software focus relevant to Overkill's portfolio construction.
• Elevator Fund: Tallinn-based early-stage VC investing in Baltic and Nordic pre-seed startups. Direct regional competitor with comparable ticket sizes and stage focus.
• Black Pearls VC: Riga-based (same city as Overkill) seed-stage VC focused on Baltic deep tech and science-based startups. Direct geographic peer competing for the same Latvian founder ecosystem.
• Practica Capital: Lithuanian early-stage VC fund operating a pre-seed/seed mandate across the Baltics. Direct competitor for Baltic founder deal flow at similar check sizes.
• Superangel: Estonia/Finland-based early-stage investor focusing on Baltic and Nordic pre-seed startups. Comparable stage and regional focus with active co-investment syndicates.
• Lifeline Ventures: Helsinki-based early-stage VC focused on pre-seed and seed investments in Finnish/Nordic startups. Direct comparable on stage, check size, and regional focus.
• Icebreaker.vc: Helsinki-based early-stage VC investing across the Nordics and Baltics. Comparable pre-seed/seed mandate with similar geographic reach into Baltic founder markets.
• Change Ventures: Tallinn-based early-stage (pre-seed/seed) VC focused on Baltic founders. Direct comparable on stage, geography, and check size to Overkill's pre-seed mandate across the Baltics.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/in/davidventzel

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments37 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Overkill Ventures