Strategic report / Venture Funds

PROfounders III:
Early-stage investing

PROfounders Fund III focuses on early-stage venture capital investments in entrepreneur-led private businesses, backing disruptive business models that leverage technology to improve and transform customer experiences.

Venture Funds / PROfounders III portfolio

OCI commitment

€30m

PROfounders, whose fund size is €77 million, is a disruptive product that brings clear user benefits through technological innovation. As at 31 December 2025, the fair value of OCI’s investment was £7.4 million.

nilo.health

nilo.health, a German provider of employee mental health solutions, has demonstrated strong execution following its merger with Likeminded, reflected in continued growth in new bookings and good retention of customers.

Frontnow

Based in Germany, Frontnow offers generative AI tools for e-commerce retailers.

Dash Games

Founded by experienced games veterans, Dash is a London-based studio working to build free-to-play mobile games. The team is working closely with its partner in India to launch in the Indian market.

Scaleup

Scaleup is a fractionalised CFO proposition for fast-growing SMEs, with operations in Denmark and the UK. Scaleup Finance has recently launched its AI-powered financial co-pilot ‘Nume’.

Inceptron

Inceptron is a Swedish software company building an inference platform for high-speed, low-cost, scalable production AI model deployment. With ever-increasing usage of expensive and energy-hungry AI models, the company is building a platform for cheaper running of AI models.

Isla

Isla is a platform for clinicians to securely receive, review and store rich media data directly from patients. Isla has recently engaged in a high-profile initiative with leading senior personnel from relevant public healthcare institutions, piloting digital care pathways across three sites.

QA.tech

Based in Sweden, QA.tech specialises in training and deploying AI agents for automated quality assurance testing of software. The company is now focusing on institutionalising sales by recruiting experienced salespeople to the team.

ClimeFi

Based in France, ClimeFi helps companies reach their net-zero targets by facilitating access to high-quality and permanent carbon removal solutions. Despite navigating a fragmented landscape of regulations and corporate standards, the company has a growing pipeline of new client relationships.

Qneiform

PROfounders Fund III participated in the seed round of Qneiform, a provider of talent intelligence software to recruiters and financial institutions.

Capalo AI

PROfounders Fund III participated in a €3.8 million seed funding round into Capalo AI, a Finnish energy technology company which maximises the value of energy storage systems and accelerates the green transition through its AI-powered virtual power plant. Prior to the end of 2025, Capalo AI raised an €11 million Series A funding round, in which PROfounders Fund III participated on a pro rata basis.

Bislab Holding AS

Based in Norway, Bislab delivers advanced API-first risk assessment solutions for the professional market, with a mission to redefine credit scoring and risk assessment.

cto.new

Based in the UK and the US, cto.new is an AI code agent that acts as your personal CTO. The platform includes intelligent tool planning, automatic code review and optimisation, and deep integration with existing development workflows.

Kinfolk

PROfounders III participated in a recent round of funding at London-based Kinfolk, an AI-powered HR operator and ticketing platform.

Oakley Capital Investments

Annual Report 2025

Oakley Capital Investments

Annual Report 2025