From founding Wave Ventures to leading a VC-backed Startup, Paebbl
Entering the startup world
Andreas Saari's entrepreneurial spirit was evident early on. He got his first taste of business at the age of seven when he started collecting pine cones at his family's summer cottage and selling them to his parents. From summer jobs on a potato farm at the age of 14 to working as a waiter and barista at Café Engel to freelancing as a graphic designer, Andreas gained diverse work experience from a young age.
After graduating from high school and completing his military service in the Finnish Navy, Andreas began studying Industrial Engineering and Management (IEM) at Aalto University. However, after a year of serious study, his academic focus gradually shifted as work opportunities and other ventures began to demand more of his time.
The turning point in Andreas' career came at Slush, where he first started as a volunteer in 2014 and a year later continued as a full-time employee for 4.5 years. At Slush, his roles ranged from running one of the "badge claim" groups to managing startup and investor operations, acquiring speakers, and eventually becoming CEO.
From idea in a Facebook group to building Europe's largest student-run VC
While working at Slush, Andreas began to see venture capital from a new perspective. He became fascinated by its social impact and how a small group of people have the power to decide which ideas have the best chance to succeed. It was also an exciting way to meet ambitious people with bold ideas and help shape the future.
The idea for Wave Ventures first sparked when Andreas stumbled upon a Facebook post in Prodeko's group (Student Association for IEM students) about a student-run VC established at the University of Utah. Inspired by the concept, Andreas commented on the post and asked when something similar would start in Finland. When no response came, the idea took root in his mind: why not start one himself?
Andreas brought together a group of friends from different backgrounds to get things started. To give the initiative more legitimacy, he also gathered advisors from the Finnish VC community, including Timo Ahopelto (Partner at Lifeline Ventures) and Ilkka Kivimäki (Partner at Maki.vc).
Building Wave was not an easy task as nothing like it had ever been done before. Andreas and his team had to figure out a lot of fundamental questions, such as: What kind of entity would they establish? How would profit-sharing work? Would it be a for-profit or non-profit venture? Legal complexities, particularly related to raising money from non-professional investors, also slowed down progress. Eventually, however, they overcame these challenges and raised the fund, even exceeding their initial target size of €500,000 to reach €1.5 million.
The ambition with Wave was clear from the start: The team wanted to build the best and largest student-led VC in Europe. With no prior experience to fall back on, they had to learn everything they could by doing. At Wave, learning by doing has always been a core principle, and it continues to guide the team today. From deal sourcing to investment decisions to fund management, the team is still fully responsible for every step.
Drawn towards building impactful things
When asked what eventually drew him away from venture capital, Andreas said it always came back to building things. Whether it was building mountain bike trails, houses, or teams, he liked the excitement.
From a very young age, Andreas knew that whatever he did with his life needed to have a meaningful impact on the planet. This led to the birth of Paebbl, a climate technology startup that converts captured carbon dioxide into a building material. The company's mission is to reduce carbon emissions by turning harmful CO2 into sustainable materials for the construction industry, one of the world's biggest polluters.
Last week marked a major milestone for the company as it raised a $25 million Series A funding round led by VC Capnamic and backed by major investors such as Amazon's Climate Pledge Fund, Goldbeck's family office Aurum Impact, and global construction and materials leader Holcim.
Although Andreas has shifted his focus to Paebbl, his connection to Wave remains strong. As a board member, he continues to support the team and watch with pride as new generations of students take the helm.
To learn more about Paebbl, check out their website here.
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