Fika with Wave Ventures CEO Antonia Eneh: "We’re giving Gen Z a chance"

You’ve almost completed a year as CEO at Wave Ventures. What’s been your biggest learning so far on this journey?

"Getting a new fund off the ground. In a way, the money was the easy part, then there were lots of practicalities – everything from the legal aspects to building and structuring our durable non-traditional VC model, which includes a rotating team."

Wave Ventures launched in 2016, and that new €7m fund is Wave Ventures' third fund which was announced last month. What’s the plan for this capital?

"It's focussed on Gen Z-led companies in the Nordics and Baltics, picking the best ones and making their dreams happen. We’ve invested in eight companies already."

Tell us about one of your favourite investments.

"Clair, which has created an AI model for fashion brands, to help forecast demand. They have a wonderful team building it."

How big a role is impact and impact investing in your decision making?

"Many of the founders we are betting on automatically focus on building for the kind of future they want to live in, so sustainability and social impact aspects are taken into consideration already. I think that Wave Ventures is, in itself, ‘impact’, because we’re giving Gen Z a chance to help build that future and make an impact."

What’s the most important email or task waiting for you in your inbox?

"We have a big new angel investor joining us, and we recently made a new deal decision. So I have emails and term sheets about that. But I have a lot of other emails too!"

Wave Ventures focuses on early-stage Gen Z founders — what do you think truly sets them apart from older entrepreneurs?

"We grew up with climate change and Covid and a lot of uncertainty, so there’s a real drive to affect the world’s future in a positive way."

Is there anything you think Gen Z founders or workers struggle with compared to older peers?

"Of course we have less experience – there are things we haven’t done before or ideas we haven’t read about. But then if you don’t know how things work, you’re going to think totally differently about how they could work – and that’s very exciting!"

What’s one piece of advice you’d give to a Gen Z founder just starting out?

"Just go for it. You can succeed!"

And what advice would you offer to a VC or angel investing in a Gen Z-led venture for the first time?

"Trust them. There is a unique insight on the world that comes from this generation."

When you personally need guidance or perspective, where do you usually turn?

"I turn to different people within the ecosystem for different matters. I think that is what is special about Wave Ventures, we have limited partners, industry specialists, founders – a whole community."

Let’s have some fun — tell us two truths and a lie about yourself.

- My whole life is in (AI workspace) Notion, it's basically my second brain.

- I once meditated ten hours a day for ten days straight.

- I have a black belt in Taekwondo.

When was the last time you messed up, and what did you learn?

"I went on a cruise organised by the Nordic VC firm byFounders, where entrepreneurs go on a networking voyage together around the Nordics. I didn’t think about how wet I could get being at sea, and I left my waterproof trousers at home! I guess next time I go to an unusual event I should think more about what I pack."

If you had a full week at work with zero meetings, how would you spend it?

"I am usually based in Finland, so I would go to Sweden or Estonia - other places where we have team members. Then I would just talk with the team in between other work."

So you would create spontaneous meetings?!

"Haha! Basically, I guess so. I love that side of my work."

How do you relax in your spare time?

"Well it’s funny, but because I am such a social person, my relaxation is usually seeing my friends outside the ecosystem. So, still talking, but other kinds of conversations."

What’s your favourite fika?

"Coffee – always black – with a cinnamon bun. I prefer the Finnish ones, which are shaped like an ear."

And what was the lie you told earlier?

"I don’t have a black belt in Taekwondo (but I'm working on it – so it’s hopefully true in the near future!)"