Trifecta backs Wave Ventures Fund IV
Investing as an LP in Europe’s largest Gen Z-run VC.
We invest in customer-obsessed entrepreneurs and the fund managers who support them
Who we are
100+ investments in businesses ranging from an aluminum luggage manufacturer to an AI powered romance novel publisher. Since our first 100,000 EUR investment in 2008, we’ve achieved a net IRR of 44.6%. We deploy capital through two complementary strategies: backing emerging fund managers as a value-added LP, and investing directly into exceptional early-stage entrepreneurs.
New direct investments made in 2025
net IRR achieved since Feb 1 2008 to Dec 31 2025
Businesses in portfolio
HOW WE INVEST
We invest our own balance sheet, so we never force exits and we’re free to back the people we believe in for as long as it takes.
01
STRATEGY
We focus on GPs raising their first seed fund. Our ideal GP has hands-on entrepreneurial experience and can clearly articulate three things: how they will secure deal flow, how they will conduct due diligence, and how they will support entrepreneurs after investment.
We are value-added LPs. We help our GPs’ portfolio companies through our network of entrepreneurs and operators, and we open doors to a wide range of other potential LPs as our managers scale their next funds.
A clear, defensible answer for why high-quality entrepreneurs come to them first.
A disciplined, repeatable process for separating signal from noise.
A concrete plan for how they will help founders after the cheque clears.
We invest our own capital, so we can be a stable, long-term LP for first-time managers we believe in.
02
STRATEGY
Our aim is to be the most founder-friendly early-stage investor. Our typical first round investment is $1-2M for a meaningful equity stake, with up to $10M per company reserved for follow-on rounds. We move fast, then work very hard to support the entrepreneur for as long as they want to keep building.
Sized to give us a meaningful stake, sized to give you the runway to focus on building.
Reserved for the companies that work. Capital that compounds with conviction.
We invest from our own balance sheet. We’re happy to be in for whatever duration you are.
Many investors say they’re founder-friendly. We back it with our actions and assign our voting rights to you.
SELECTED ANNOUNCEMENTS
Investing as an LP in Europe’s largest Gen Z-run VC.
Backing a radically new investment firm built for rare returns.
Leading the round.
Backing the manufacturer of reinforced aluminum travel cases as it scales.
Supporting the team helping brands lift AOV with high-converting upsell offers.
Providing equity financing to support the acquisition.
Providing equity financing to support the acquisition.
Providing equity financing to support the acquisition.
Investing as an LP in Europe’s largest Gen Z-run VC.
Backing a radically new investment firm built for rare returns.
Leading the round.
Backing the manufacturer of reinforced aluminum travel cases as it scales.
Supporting the team helping brands lift AOV with high-converting upsell offers.
Providing equity financing to support the acquisition.
Providing equity financing to support the acquisition.
Providing equity financing to support the acquisition.