# Top 50 Enterprise VC (Venture Capital) Funds in Finland in October 2023

## Business Finland
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 47
- Stages: Seed, Grant
- Focus: Software, Information Technology, SaaS

Business Finland finances business R&D projects and public research projects at universities, research institutes and universities of applied sciences. Read more about R&D and business funding.

## Icebreaker.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 34
- Stages: Pre-Seed, Seed, Series A
- Focus: Software, Information Technology, Artificial Intelligence

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

## Visionplus
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 33
- Stages: Seed, Series A
- Focus: Software, Information Technology, Internet

WE HELP YOU TO GROW FASTER!

## Finnvera Venture Capital
- Type: VC Fund
- Location: Kuopio, Eastern Finland, Finland
- Relevant deals: 31
- Stages: Seed, Series A
- Focus: Software, Health Care, Information Technology

Finnvera makes direct investments in early-stage enterprises through Seed Fund Vera Ltd. Finnvera's goal is to cover shortcomings existing on the market between product development funding and private equity investments. Finnvera does not compete with private financiers; instead, it strives to supplement the financial market.Finnvera'sinvestments enable, start and accelerate growth and internationalisation among investment targets. Enterprises are developed to make them attractive targets for further financing by other investors and industrial actors. Investments are made in technology enterprises at an early stage and in technology-intensive or innovative service enterprises that have potential for developing into international growth enterprises.Finnvera is also known as a specialised financing company owned by the State of Finland. It provides its clients with loans, guarantees, venture capital investments and export credit guarantees.

## Inventure
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 29
- Stages: Seed, Series A
- Focus: Software, Information Technology, Health Care

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

## Lifeline Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 29
- Stages: Seed, Series A
- Focus: Software, Health Care, E-Commerce

Lifeline Ventures Oy is a venture capital firm specializing in startups, growth capital, and early stage investments. The firm seeks to invest in healthcare, games, web based and general high technology sectors. It seeks to invest in Finland with a few investments made outside Finland as well. The firm targets investing between €0.5 million ($0.66million) and €1 million ($1.32 million). It seeks make inception to Series A investments. Lifeline Ventures Oy was founded in November 2009 and is based in Helsinki, Finland.

## Superhero Capital
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 28
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Internet

Early-stage VC searching for the next Superheroes.

## Tesi
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 28
- Stages: Series A, Series B
- Focus: Software, Manufacturing, Health Care

Finnish Industry Investment Ltd is a government-owned investment company. It invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses.Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with privateco-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings.The investments of Finnish Industry Investment amount to over MEUR 570

## Reaktor Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 23
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Internet, Health Care

Reaktor Ventures has moved to the next phase by focusing its efforts to actively supporting current portfolio companies. This means that the fund has ended its investment period and is not investing into new companies. Between 2013 and 2018 we have invested into 42 different companies and one early stage fund. We will naturally keep makingfollow-up investments to current portfolio companies.

## OpenOcean
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 17
- Stages: Series A, Series B, Seed
- Focus: Software, Information Technology, Enterprise Software

OpenOcean is an early-stage venture capital firm investing in B2B software across Europe with offices in London & Helsinki.

## Maki.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 16
- Stages: Seed, Series A
- Focus: Software, SaaS, E-Commerce

Maki.vc is an early-stage venture capital firm partnering with deep tech & brand-driven startups obsessed with challenging category norms. 

## First Fellow Partners
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 16
- Stages: Seed, Series A
- Focus: Software, SaaS, Enterprise Software

A private investment firm run by Risto Siilasmaa and Kim Groop. Grounded in a deeply held set of values around entrepreneurship, trust, integrity and helping solve the world’s problems. We partner with strong and ambitious technology entrepreneurs driven by a mission to fix or build something important in the world.

## Gorilla Capital
- Type: VC Fund
- Relevant deals: 15
- Stages: Pre-Seed, Seed, Series A
- Focus: Software, Information Technology, SaaS

Gorilla Capital is a Finnish venture capital fund investing in early stage companies that apply technology to solve real business problems of today.

## Innovestor
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 14
- Stages: Seed, Series A
- Focus: Software, Health Care, Manufacturing

Welcome to Innovestor! We are a Finnish investment company focusing on venture capital, corporate venturing services, and real estate.

## Butterfly Ventures
- Type: VC Fund
- Location: Oulu, Oulu, Finland
- Relevant deals: 13
- Stages: Seed, Pre-Seed
- Focus: Health Care, Software, Information Technology

Butterfly Ventures is a seed-stage focused VC in the Nordics, investing in deep tech, hardware, and hardware interfacing software. The company prefers to get involved with companies early on; 80% of Butterfly Ventures portfolio companies don't have any revenue at the time of their entry. Butterfly Ventures was founded in 2012 and ever sincethen it has been one of the most active early stage VCs in the region. The company has offices in Oulu, Helsinki and Stockholm.

## Vendep Capital
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 13
- Stages: Seed, Series A
- Focus: SaaS, Software, Analytics

B2B SaaS specialist VC operating in the Nordics and Baltics. We invest in the best early-stage software entrepreneurs.

## VTT Ventures
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 9
- Stages: Seed, Series A
- Focus: Manufacturing, Biotechnology, 3D Technology

VTT is a powerhouse of technology development and scientific research. Many of the most significant Finnish technology start-ups were brought to life at VTT. Do you want to invest in ongoing ventures?

## Conor Venture Partners
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 8
- Stages: Series A, Series B, Seed
- Focus: Software, Analytics, Semiconductor

Conor Venture Partners is a new breed technology venture capital fund and management company. Conor invests in early-stage companies originating from Nordic and Baltic countries. Investment areas include information and communications technology, embedded software, semiconductor technology, electronics, new materials and optics.

## Spintop Ventures
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 7
- Stages: Seed, Series A
- Focus: Software, Information Technology, SaaS

Founded in 2009, Spintop Ventures is a venture capital firm backed by a network of successful tech entrepreneurs who have invested in Spintop alongside institutional investors, family offices and some of the most experienced private investors in early stage growth companies.

## Wave Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 6
- Stages: Seed, Pre-Seed
- Focus: Software, Mobile Apps, Internet

Founded in 2016, Wave Ventures is the largest student-run VC in Europe, backed by Nordic unicorn founders, investing in Gen Z entrepreneurs at the earliest stage. We operate both from Finland and Sweden with a team of five people from the top universities in the region.

## Trind Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Software, Information Technology, Analytics

Trind Ventures is an early stage VC fund based in Tallinn, Estonia. Investing in start-ups across Europe, from seed rounds all the way to sustainability, with a focus on ICT. Trind Ventures partners are Joel Aasmäe, Ivar Siimar, Kimmo Irpola and Taavi Lepmets.

## Sisu Game Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Gaming, Video Games, Virtual Reality

Sisu Game Ventures is an early-stage venture capital fund focused 100% on games. We set up shop in 2014 to support the most promising founders in the industry. Sisu has deep roots in the Nordic region, but our network of founders is fully global.The Sisu team consists of Samuli, Paul, Erik, Kalle, Moaffak, Kadri, and Jere - all of whom haveextensive backgrounds in the game industry and startup circles, both as entrepreneurs and investors. We've founded and built sixteen game companies since the early 90s and had several successful exits. Apart from funding companies, the team uses their expertise to act as a studio builder. Individual founders are supported in building their team, honing their product strategy and in gathering the right group of investors.

## Voima Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 4
- Stages: Seed, Pre-Seed
- Focus: Biotechnology, Health Care, Software

Voima Ventures’ mission is to solve major global problems by combining science, entrepreneurship, and value adding capital. They shed light on the ideas and technology which require time and courage to build. Industry domains include bio and new materials, medical technologies and life sciences, imaging and optics, IoT and electronics, robotics,software & ICT and AI. In addition, Voima Ventures has invested in more than 30 deep tech startups, including companies like Solar Foods, Infinited Fiber Company, and Dispelix. Cornerstone investors are VTT Technical Research Centre of Finland and European Investment Fund (EIF), backed by Finnish private and institutional investors.

## DN Capital
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 4
- Stages: Series A, Series B, Seed
- Focus: Software, E-Commerce, SaaS

DN Capital is an early-stage venture capital firm that invests primarily in Europe and North America. The firm focuses on companies that plan to establish operations on both sides of the Atlantic, and strives to help its companies build international businesses. Founded in 2000, the company has operations in London and Silicon Valley. DN Capital’sprevious funds are top performers and the firm is one of the lead investors in companies such as Endeca (sold to Oracle), Shazam (one of the world’s leading mobile app), Auto1 (world's largest used car marketplace), Purplebricks (IPO London) and Quandoo (sold to Recruit).

## Nordea
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 4
- Stages: Debt Financing, Seed
- Focus: FinTech, Financial Services, Banking

Nordea Bank is Denmark's second-largest bank and counts every fourth Dane among its customers. Through their nationwide network of some 340 branch offices and a broad range of self-service facilities, they are able to offer you a full scale of financial products and services, including Netbank, Online Investment, telephone banking and cashdispensers.

## Vito Ventures
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 4
- Stages: Series A, Seed
- Focus: Software, Information Technology, Internet of Things

Vito Ventures invests in break-through tech and business startups in the fields of IoT, B2B marketplaces, enterprise, SaaS and energy tech. Vito Ventures backs ambitious founders and startups applying technology to solve fundamental problems of society ranging from climate change to energy security. They believe that superb engineering andradical entrepreneurial thinking is needed to tackle major challenges of the upcoming decades. With its investments they empower startups, which will make a difference both within their industry and beyond. Through its industrial investor base, they have access to extensive resources (e.g., R&D facilities, global market reach, mass production capabilities). Its portfolio companies can actively leverage their investor’s domain expertise and knowledge base in the fields of Cooling-, Heating- and Energy-technology, Industry 4.0 and Internet of Things. Whether it is developer capacity or prototyping experience, they want to build bridges and open doors whenever possible.

## Initial Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 4
- Stages: Seed, Series A
- Focus: Gaming, Mobile, Software

Initial Capital is an investor in seed and early-stage technology companies with a focus on games, consumer services & technology enablers.

## LVP
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 4
- Stages: Seed, Series A
- Focus: Gaming, Video Games, Mobile

LVP is a venture capital seed fund with a difference - they're operating experts in the games sector, and they only ever invest in the games ecosystem. That means they bring real experience and deep understanding. They speak the same language, share the same references, understand the same challenges - and they believe in the same vision.They know instinctively where the opportunities lie; where there are strengths to be harnessed and exposures to be covered. In fine-grain, no-hiding, straight-talking detail. They know when to bide time, when to iterate and when to go wide. And how.They invest in people. That means founders with the potential to build the best in the world; teams with terrific, creative games development skills, or fantastic ideas for revolutionary games technology or services… and a vision that sets them apart.

## Xiaomi
- Type: VC Fund
- Location: Beijing, Beijing, China
- Relevant deals: 3
- Stages: Series A, Series B, Series C
- Focus: Manufacturing, Software, Hardware

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## 5Y Capital
- Type: VC Fund
- Location: Xuhui, Shanghai, China
- Relevant deals: 3
- Stages: Series A, Series B, Series C
- Focus: Artificial Intelligence, Software, Biotechnology

5Y Capital is a firm engaged in providing early-stage venture investments. It was formerly known as Morningside Venture Capital.The investment firm manages USD 5bn in dual-currency funds in USD and RMB, backed by world-renowned sovereign wealth funds, family offices, fund of funds, university endowments, pensions, and foundations.It washeadquartered in Xuhui, Shanghai, China in 2008 by Ken Shi and Richard Liu.

## SanomaVentures
- Type: VC Fund
- Location: Hoofddorp, Noord-Holland, The Netherlands
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Internet, SEO, Finance

SanomaVentures is the venturing arm of European media company Sanoma Corporation (SAA1V), aiming to support innovative start-ups in digital information, entertainment and education by providing them with capital, media exposure, expertise and access to Sanoma’s business network.SanomaVentures focuses on early stage investments in start-ups activein online consumer services, e-commerce, mobile, video, online advertising and education. SanomaVentures has offices in Amsterdam and Helsinki.

## Karma Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 3
- Stages: Series A, Seed, Series B
- Focus: Software, Artificial Intelligence, Information Technology

karma.vc is an early stage venture capital fund focusing on seed and early stage technology companies in Europe.

## Proxy Ventures
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 3
- Stages: Seed, Angel
- Focus: Health Care, Marketplace, Mobile Apps

We have created brands for startup successes Supercell, Oura, Peak, Festicket and Fy! Being investors, we have an uniquely commercial branding approach.

## Valve Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 3
- Stages: Seed, Series A
- Focus: Energy, CleanTech, Oil and Gas

Valve Ventures is a Helsinki-based angel and early-stage venture investor.

## Flashpoint
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 3
- Stages: Series A, Seed
- Focus: Software, SaaS, Enterprise Software

Flashpoint is an international technology investment firm that manages venture capital, secondary buy-out and venture debt funds.

## Leaguer Venture Capital
- Type: VC Fund
- Location: Shenzhen, Guangdong, China
- Relevant deals: 3
- Stages: Series A, Seed
- Focus: Artificial Intelligence, Semiconductor, Robotics

Shenzhen Leaguer Venture Capital Co., Ltd. is a high-tech venture capital company founded by Research Institute of Tsinghua University in Shenzhen (RITS) in August 1999. Its current registered capital is RMB 333.3333 million, managing assets amounted to RMB 1.5 billion. With solid capital strength, rich experience of investment and flexiblemechanism, Leaguer VC has invested more than 50 portfolio companies, ranging from IT, new material, medicine, electronics to optomechatronics and hi-tech incubators, etc. The average IRR for the current investments exceeds 30%. Leaguer VC has successfully finished its fund-raising of RMB 160 million in 2009 and set up fund management companies and venture capital companies located in Changzhou and Wuxi.

## Alfabeat
- Type: VC Fund
- Location: Gdansk, Pomorskie, Poland
- Relevant deals: 3
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, Marketing, Internet

Welcome to Alfabeat, a specialist seed and early stage venture capital fundfocused on Enterprise SaaS companies from Central and Eastern Europe,backed by successful enterprise software founders.

## Northzone
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 3
- Stages: Series A, Series B, Seed
- Focus: Software, E-Commerce, Information Technology

Northzone is a venture capital fund with a perspective shaped by lives as entrepreneurs. Since 1996, they've made over 175 investments and invest from Seed to Growth. They've partnered with the founders of Spotify, Avito, iZettle, Klarna, Hopin, and hundreds of others to build category-defining businesses. They've raised €1bn inSeptember 2022.

## Nordic Option
- Type: VC Fund
- Location: Oulu, Oulu, Finland
- Relevant deals: 3
- Stages: Seed, Series C
- Focus: Software, Manufacturing, 3D Technology

Nordic Option is a private equity fund focusing its investments on growth companies. It provides capital investments in small and medium-sized growth companies that have already established themselves in Northern Finland. The fund's investment strategy includes the possibility to make up to 5 early-stage growth investments with one millioneuros.The firm's value of investments in portfolio companies is approximately EUR 10 million and the value of loans granted is approximately EUR 1 million.

## Ventech
- Type: VC Fund
- Location: Paris, Ile-de-France, France
- Relevant deals: 3
- Stages: Series A, Series B
- Focus: Software, E-Commerce, Biotechnology

On-the-ground expert investors in early-stage digital. Ready to meet you, wherever you are.

## Arteel Ventures
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 2
- Stages: Seed, Angel
- Focus: CRM, Mobile Apps, Innovation Management

Arteel Ventures is a fully independent and invests from its balance sheet. As an investment vehicle, we are focused on innovative early stage start-ups with capable management team and disruptive idea in areas of internet, mobile device based services and solutions. We make investments between 25.000 – 150.000 €.Arteel Ventures is not a fund, sowe don’t have a need to stamp any sell before dates to company we invest in. We invest not only equity but also our time, knowledge and network to the use of our portfolio companies. Our investment approach is active and hands-on, as is our approach to ownership. We believe in independence, openness and clarity when partnering with entrepreneur-driven management teams.

## Summit Partners
- Type: VC Fund
- Location: Boston, Massachusetts, United States
- Relevant deals: 2
- Stages: Private Equity, Series B
- Focus: Software, Information Technology, Health Care

Summit Partners is a global alternative investment firm that invests in growth equity, fixed income and public equity opportunities in technology, healthcare and other growth sectors.

## Jerry Pruttz Holding Ab
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed
- Focus: Video, Database, Automotive

Investor

## Mobility Ventures
- Type: VC Fund
- Location: Addison, Texas, United States
- Relevant deals: 2
- Stages: Seed, Angel, Series C
- Focus: Mobile, Apps, Retail

Mobility Ventures is a venture capital firm focusing on early stage companies across the wireless ecosystem: mobile Internet, AI data sciences, digital media, m-health, commerce, software, location-based services, applications, and services. The company also provides advisory services in the areas such as corporate strategy and growth strategies,market opportunity and analysis, business development, access to financial communities, and develop and implement marketing and sales strategies.Mobility ventures was founded by Roman Kikta in 2004 and is headquartered in Addison, Texas.

## Nielsen Ventures
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Series B
- Focus: Software, E-Learning, Machine Learning

Nielsen invests in innovation through our measurement and methodology, early startups and data partnerships.

## OP Corporate Bank
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, Hardware, Internet

OP Corporate Bank

## Creathor Ventures
- Type: VC Fund
- Location: Bad Homburg, Hessen, Germany
- Relevant deals: 2
- Stages: Series A, Series B
- Focus: Software, Health Care, Biotechnology

We have been investing at the frontier of technology and science for over 30 years. We know what it takes to succeed.

## Green Campus Innovations Oy
- Type: VC Fund
- Relevant deals: 2
- Stages: Seed
- Focus: Energy, Battery, Biotechnology

Provide an effective, outsourced incubation and acceleration platform .

## Taaleri
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 2
- Stages: Seed, Pre-Seed
- Focus: Financial Services, FinTech, Lending

Taaleritehdas Wealth Management is helping all Finns see the advantages of ownership and find their own way to own.


## Fairpoint Capital
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 2
- Stages: Seed, Series A
- Focus: Software, SaaS, Information Technology

Fairpoint Capital is a B2B technology investment fund sprung out of the technology team of SEB Venture Capital. The fund is independent from SEB but the bank remains its main investor. Other investors are institutions with a close relationship to the bank. We thus leverage on more than two decades of technology venture capital investments and exitsin well over 50 technology companies. Exits include companies like Tail-f Systems, Donya Labs, Kreatel, Bluetail, Diakrit and Coresonic. Trade buyers include Microsoft, Cisco, Mediatek, Telia, Intel, NewsCorp and CGI.

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