Martin Krag

Partner, byFounders
Martin Krag treats investing as a craft—leading portfolio modeling and writing on venture math—and applies his ex‑pro poker focus on probability to back rare high-growth companies like Monta and Supernormal.
How to contact Martin Krag
Stages their fund invests in
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Sectors their fund invests in
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Avg Check
€500K–€4M
N/A
Does their fund Lead?
No
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Geos their fund invests in
Europe
Martin Krag
Stages their fund invests in
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Sectors their fund invests in
SaaS
Fintech
AI
Climate
Health
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Avg Check
€500K–€4M
N/A
Leads?
No
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About Martin Krag

Martin Krag stands out at byFounders for treating investing as a craft, leading the firm's portfolio construction and modeling and writing about venture math and power laws rather than just founder stories, a mindset shaped in part by his earlier career as a professional online poker player who thought deeply about probability and decision-making under uncertainty. He's also known for describing venture capital as a specific tool for funding rare, high-growth companies rather than startups in general, and his track record includes early involvement with breakout companies like Monta, Pipebio, Januar, Kleoverse, Spoke, Vibrant, and Supernormal.

About their Fund

Sectors
SaaS, Fintech, AI, Climate, Health
Rounds
Pre-Seed - Seed
Avg Check Size
€500K–€4M

byFounders is built around a formal Collective of 65+ Nordic and Baltic founders and operators who support its portfolio companies, and it treats ESG and impact as part of how the fund itself is designed, not just a screening step. It focuses on backing globally ambitious founders from the Nordic and Baltic region, aims to build bridges to places like Silicon Valley, and is unusually open about sharing its internal culture and values, including practical, founder-written advice on topics like pricing and product-market fit.

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