Top Venture Capital Firms Finland - Venture Capital Finland Guide

Top Venture Capital Firms in Finland: Investing in the Future of Finnish Startups

Venture capital firms play a critical role in the growth and development of startups.

These firms provide funding, mentorship, and guidance to startups, helping them to scale and achieve their goals. Finland has a thriving startup ecosystem, with a number of venture capital firms investing in promising startups in the country.

In 2023, some of the top venture capital firms in Finland include NGP Capital, Superhero Capital, and Evli Growth Partners. NGP Capital is a late-stage venture capital firm that invests in companies in the cloud, cyber security, digital industry, and digital transformation sectors.

Superhero Capital, on the other hand, is a seed-stage venture capital firm that invests in B2B software and services for industries such as health technology, financial technology, the Internet of Things, and Software as a Service sector companies based in Finland and the Baltics. Evli Growth Partners is a European later-stage VC that invests in companies across sectors.

These venture capital firms are actively looking for promising startups to invest in and support. Startups looking for funding and support can benefit from partnering with these firms, gaining access to their resources, expertise, and network.

With the support of these venture capital firms, startups in Finland can scale and grow, contributing to the growth and development of the country's startup ecosystem.

Venture Capital in Finland

Finland has a thriving startup ecosystem, and venture capital firms are playing a significant role in funding and supporting these startups. In recent years, the number of venture capital firms operating in Finland has increased, providing more opportunities for entrepreneurs to secure funding for their ventures.

The Finnish venture capital industry is diverse, with a wide range of firms investing in various sectors, including technology, healthcare, and energy.

Some of the top venture capital firms in Finland include Tesi, Inventure, and Lifeline Ventures. Tesi, for example, is a state-owned investment company that focuses on promoting the growth and internationalization of Finnish companies.

In addition to traditional venture capital firms, there are also angel investors and crowdfunding platforms that provide funding for startups in Finland.

These alternative sources of funding can be particularly useful for early-stage companies that may struggle to secure funding from traditional venture capital firms.

Overall, the venture capital industry in Finland is dynamic and growing, providing a wealth of opportunities for startups and investors alike. With a supportive ecosystem and a range of funding options, Finland is an exciting place to be for entrepreneurs looking to start and grow their businesses.

Top Finnish Venture Capital Firms

Finland's tech ecosystem has shown remarkable resilience in the face of the global crisis, with several venture capital firms investing in various industries.

Here are some of the top Finnish venture capital firms:

1. Tesi

Tesi is a state-owned investment company that invests in Finnish companies with the goal of promoting sustainable growth and internationalization. They invest in various industries, including ICT, healthtech, and deeptech, among others.

In H1 2022, Tesi made nine investments, bringing their total number of investments to 134. Their ticket size ranges from €2 million to €15 million.

2. Verdane

Verdane is a late-stage venture capital firm that invests in tech and sustainability companies in Europe.

They provide growth capital to companies that have already reached product-market fit and are ready to scale. Verdane has a presence in several European countries, including Finland, and has invested in companies such as Wolt and Smartly.io.

3. CapMan

CapMan is a leading Nordic private asset management and investment company that has been in operation for over 30 years. They specialize in unlisted businesses, real estate, and infrastructure, and have invested in several Finnish companies, including Musti Group and Terveystalo.

4. Inventure

Inventure is an early-stage venture capital firm that invests in Nordic and Baltic companies. They focus on companies that have innovative and disruptive business models, particularly in the technology and healthcare sectors. Inventure has invested in several Finnish companies, including Blueprint Genetics and Treamer.

5. Lifeline Ventures

Lifeline Ventures is an early-stage venture capital firm that invests in Finnish companies with a focus on the healthcare and life sciences sectors.

They invest in companies that have the potential to create significant social impact, and have invested in companies such as Blueprint Genetics and Nightingale Health.

These are just a few of the top venture capital firms in Finland. Each of these firms has a unique investment strategy and focus, making them a valuable resource for Finnish startups looking for funding and support.

Invesdor Group

Invesdor Group is a Helsinki-based venture capital firm that invests in early-stage and growth companies.

The firm was founded in 2012 and has since then invested in over 150 companies across various sectors. Invesdor Group has a strong focus on technology and innovation, and it is known for its expertise in the fintech industry.

One of the unique features of Invesdor Group is its crowdfunding platform, which allows investors to participate in funding rounds alongside the firm.

The platform enables companies to raise funds from a broader pool of investors, which can help them to grow faster and achieve their goals more effectively.

Invesdor Group has a team of experienced professionals who provide support and guidance to the companies in which they invest.

The firm offers a range of services, including financial and strategic planning, legal advice, and marketing support. This comprehensive approach helps the companies to develop and execute their growth strategies successfully.

Invesdor Group has made several successful investments in recent years, including the fintech companies Zervant and Holvi.

The firm is continuously looking for new investment opportunities and is actively seeking innovative companies with high growth potential.

Lifeline Ventures

Lifeline Ventures is a Helsinki-based venture capital firm that was founded in 2009. The firm has a strong focus on early-stage companies and has already backed more than 100 companies to date. Lifeline Ventures works closely with its portfolio companies in funding, sales, technology, strategy, and operations.

The company prefers to invest in a range of sectors, including climatetech, consumer, financial, games, hardware, health, and software.

Lifeline Ventures is known for its commitment to building strong teams and helping them build great products that people love to use.

In 2022, Lifeline Ventures closed a €150 million ($163 million) fund aimed at early-stage startups across Finland.

The fund will be used to support innovative companies that have the potential to make a significant impact in their respective markets.

Lifeline Ventures is a highly respected venture capital firm in Finland and is one of the most active investors in the country. The firm's focus on early-stage companies and its commitment to building strong teams has helped it to establish a strong reputation in the industry.

Icebreaker

Icebreaker.vc is a Finnish venture capital firm that invests in early-stage startups.

They aim to help these startups grow into global companies by providing them with the necessary resources and support. The firm was founded in 2016 and has since invested in over 100 companies in Estonia, Finland, and Sweden.

Icebreaker.vc's initial investments range from €150-800k. They have a particular interest in investing in companies that have the potential to disrupt industries and create new markets. They focus on technology startups, with a particular emphasis on software and hardware companies.

One of Icebreaker.vc's most notable investments is in Supercell, a Finnish mobile game development company. Supercell is responsible for popular games such as Clash of Clans and Clash Royale. Icebreaker.vc also invested in Jolla, a Finnish mobile company that develops Sailfish OS, an alternative mobile operating system.

Icebreaker.vc's team is made up of experienced entrepreneurs and investors who have a deep understanding of the startup ecosystem. They provide their portfolio companies with access to their extensive network of contacts, including industry experts, potential customers, and other investors.

Overall, Icebreaker.vc is an exciting venture capital firm that is dedicated to helping early-stage startups grow into successful global companies. With their focus on disruptive technologies and their experienced team, they are well-positioned to continue making successful investments in the years to come.

Maki.Vc

Maki.Vc is a Helsinki-based early-stage venture capital firm that invests in deep tech and brand-driven startups. The firm was founded in 2018 and is known for partnering with startups that are obsessed with challenging category norms.

Maki.Vc has a strong focus on sustainability and has been actively investing in startups that are working towards creating a more sustainable future. The firm has a portfolio of companies that includes Strise, a sustainable fashion brand, and Ever Dye, a company that provides sustainable dyeing solutions for the textile industry.

In addition to its focus on sustainability, Maki.Vc is also known for its commitment to diversity and inclusion.

The firm has a diverse team of professionals and has made it a priority to invest in startups that are led by underrepresented founders.

Overall, Maki.Vc is a highly respected venture capital firm in Finland that is known for its focus on sustainability, commitment to diversity and inclusion, and its partnerships with startups that are challenging the status quo.

Wave Ventures

Wave Ventures is a Finnish venture capital firm that invests in early-stage startups across the world. The firm is managed entirely by students from Aalto University and University of Helsinki, making it unique in the Finnish VC scene. The firm was founded in 2020 and has quickly made a name for itself as an active investor in the Finnish startup ecosystem.

Wave Ventures has a diverse portfolio of investments across a variety of industries, including software, consumer products, robotics, and medical technology. Some of the startups that Wave Ventures has invested in include Streetbees, Cargonexx, and Kiira Motors. The firm is also known for its focus on impact investing, with a particular interest in startups that are working to solve global challenges.

One of the unique aspects of Wave Ventures is its focus on student management. The firm's team is made up entirely of students from Aalto University and University of Helsinki, giving them a fresh perspective on the startup ecosystem. This also allows the firm to provide valuable mentorship and networking opportunities to young entrepreneurs.

Overall, Wave Ventures is an exciting addition to the Finnish venture capital scene. With its focus on impact investing and student management, the firm is well-positioned to make a significant impact on the Finnish startup ecosystem in the coming years.

Superhero Capital

Superhero Capital is a venture capital investment firm based in Helsinki, Finland. Founded in 2015, the firm invests in early-stage and growth-stage companies operating in the B2B software, B2B services, health tech, fintech, internet of things, and SaaS sectors based in Finland and the Baltics.

The firm has a strong focus on sustainability and impact investing.

It believes that technology can be used to create a positive impact on the world, and actively seeks out companies that align with this mission. Superhero Capital is committed to supporting its portfolio companies throughout their growth journey, providing them with access to its extensive network of industry experts and resources.

Superhero Capital has made several notable investments in the Finnish startup ecosystem.

For example, it was one of the investors in Zadaa, a peer-to-peer fashion marketplace, which raised €15 million in a funding round in 2022. It has also invested in companies such as Varjo, a virtual and mixed reality technology company, and Aiven, a cloud data platform provider.

The firm has a team of experienced investors and entrepreneurs who bring a wealth of knowledge and expertise to its portfolio companies. Its team includes partners such as Timo Ahopelto, who has over 20 years of experience in the tech industry, and Markus Villig, the founder of Taxify (now Bolt), a ride-hailing company.

Overall, Superhero Capital is a leading venture capital firm in Finland that is making a significant impact in the startup ecosystem. Its focus on sustainability and impact investing, combined with its experienced team and extensive network, make it a valuable partner for early-stage and growth-stage companies looking to scale and create a positive impact on the world.

Standout Capital

Standout Capital is a venture capital firm that invests in Nordic technology companies. The firm was founded in 2013 and is based in Stockholm, Sweden. They have a strong presence in Finland and have invested in several Finnish companies.

The firm has a total of $275 million in assets under management and invests in companies at various stages of growth. They typically invest between €3-15 million in each company and focus on sectors such as software, fintech, and e-commerce.

Standout Capital has a team of experienced investors and entrepreneurs who provide expertise and support to the companies they invest in. They take an active approach to investing and work closely with management teams to help them achieve their growth objectives.

Some of the Finnish companies that Standout Capital has invested in include:

• Finnish Net Solutions - a software company that provides digital solutions for the public sector

• Nordic ID - a technology company that specializes in RFID and barcode solutions

• Nordic Morning - a digital marketing and communication agency

Standout Capital is known for its strong network and connections in the Nordic technology ecosystem.

They have a track record of successful investments and have helped several companies achieve significant growth.

TesiVC

TesiVC is a Finnish venture capital firm that has been investing in Finnish companies since 1995.

The firm has a portfolio of over 700 companies, making it one of the most active venture capital firms in Finland. TesiVC focuses on investing in startups and growth companies in various sectors, including healthcare, technology, and sustainability.

In 2022, TesiVC was listed as one of the top Finnish venture capital firms by AIN.Capital, with 33 deals closed in H1 2022.

The firm also ranked highly on Seedtable's list of the top venture capital investors in Finland in 2023, showcasing its exceptional acumen, vision, and commitment to fostering innovation in the region.

TesiVC has a team of experienced investment professionals who work closely with portfolio companies to help them grow and achieve their goals. The firm provides not only financial support but also strategic guidance and operational expertise.

TesiVC's investment strategy is focused on long-term value creation, with a goal of building sustainable businesses that can make a positive impact on society.

Overall, TesiVC is an exciting venture capital firm that is playing a significant role in shaping the Finnish startup ecosystem.

With a strong track record of success and a commitment to innovation and sustainability, TesiVC is a firm to watch in the coming years.

Future Trends in Finnish Venture Capital

The Finnish venture capital ecosystem has been growing steadily over the last decade, with a significant increase in the number of active VC firms and investments made in startups across various sectors. Here are some future trends that are likely to shape the Finnish venture capital landscape in the coming years:

1. Continued Growth in Healthtech Investments

Healthtech is one of the fastest-growing sectors in Finland, with a significant number of startups developing innovative solutions for healthcare providers and patients alike. In the coming years, we can expect to see continued growth in healthtech investments, with more VC firms looking to fund startups in this space.

2. Increased Focus on Sustainability

Sustainability is becoming an increasingly important factor in venture capital investments, with more investors looking to fund startups that have a positive social and environmental impact. In Finland, we can expect to see more VC firms focusing on sustainability and funding startups that are working towards a more sustainable future.

3. More Investments in Deep Tech

Deep tech refers to startups that are developing cutting-edge technologies, such as artificial intelligence and blockchain. In Finland, we can expect to see more investments in deep tech, as the country has a strong technology ecosystem and a highly skilled workforce.

4. Rise of Corporate Venture Capital

Corporate venture capital (CVC) is becoming more popular in Finland, with more established companies looking to invest in startups that complement their existing business. This trend is likely to continue in the coming years, as more companies look to stay ahead of the curve by investing in innovative startups.

Overall, the Finnish venture capital ecosystem is poised for continued growth and innovation in the coming years. With a strong focus on emerging sectors and cutting-edge technologies, Finland is quickly becoming a hub for startups and investors alike.

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