# Top 50 VC (Venture Capital) Funds in Finland in May 2026

## Business Finland
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 90
- 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.

## Lifeline Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 86
- 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.

## Tesi
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 76
- 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

## Finnvera Venture Capital
- Type: VC Fund
- Location: Kuopio, Eastern Finland, Finland
- Relevant deals: 67
- 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.

## Icebreaker.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 63
- 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.

## Inventure
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 54
- 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.

## Butterfly Ventures
- Type: VC Fund
- Location: Oulu, Oulu, Finland
- Relevant deals: 53
- 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.

## Visionplus
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 51
- Stages: Seed, Series A
- Focus: Software, Information Technology, Internet

WE HELP YOU TO GROW FASTER!

## Reaktor Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 42
- 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.

## Superhero Capital
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 38
- Stages: Seed, Pre-Seed, Series A
- Focus: Software, Information Technology, Internet

Early-stage VC searching for the next Superheroes.

## First Fellow Partners
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 35
- 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.

## Maki.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 34
- 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. 

## Innovestor
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 34
- 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.

## Voima Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 25
- 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.

## Gorilla Capital
- Type: VC Fund
- Relevant deals: 24
- 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.

## Vendep Capital
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 20
- 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.

## 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.

## Sisu Game Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 16
- 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.

## Initial Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 16
- 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.

## VTT Ventures
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 15
- 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?

## Play Ventures
- Type: VC Fund
- Location: Grand Cayman, Midland, Cayman Islands
- Relevant deals: 13
- Stages: Seed, Pre-Seed
- Focus: Gaming, Video Games, Blockchain

Play Ventures is a venture funding that invests globally in games and game services startups.

## Conor Venture Partners
- Type: VC Fund
- Location: Espoo, Southern Finland, Finland
- Relevant deals: 12
- 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.

## LVP
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 11
- 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.

## Spintop Ventures
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 10
- 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: 10
- 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.

## Nidoco
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 9
- Stages: Seed, Series B
- Focus: Health Care, Software, Artificial Intelligence

Nidoco AB is a Swedish investment company whose strategy is to create long-term value through active ownership of public and private companies.

## PROfounders Capital
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 9
- Stages: Seed, Series A, Series B
- Focus: Software, Apps, Travel

We are PROfounders. We are the proactive European early-stage venture fund.

## Nordea
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 8
- 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.

## Illusian Family Office
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 8
- Stages: Seed, Series A, Series B
- Focus: Software, Information Technology, Artificial Intelligence

Illusian is a Family Office founded in 2014 by Ilkka Paananen, entrepreneur, investor, co-founder and CEO of Supercell, the global leader in mobile games. They support founders and makers who shape society through technology and create impact at scale. Their mission is to unleash the potential of European entrepreneurship to solve the world’sbiggest problems. Illusian's activities consist of three pillars: investing, philanthropy, and family services. They often partner with leading venture capital funds to help bring their vision to life.

## Nordic Foodtech VC
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 7
- Stages: Seed, Series A
- Focus: Biotechnology, Seafood, Life Science

We are investing in #FutureFood. Nordic FoodTech VC is the first fund in the Nordics investing explicitly in the future of food

## Springvest
- Type: VC Fund
- Relevant deals: 7
- Stages: Series A
- Focus: Biotechnology, Health Care, Energy

## Heartcore Capital
- Type: VC Fund
- Location: Copenhagen, Hovedstaden, Denmark
- Relevant deals: 6
- Stages: Series A, Seed, Series B
- Focus: Software, E-Commerce, Artificial Intelligence

Heartcore Capital is an early-stage venture capital firm devoted to backing founders building category-defining consumer internet brands.Founded as Sunstone Capital in 2007, Heartcore has raised over $500 million in committed capital across four fund generations. The firm has offices in Copenhagen, Berlin, and Paris but invests across Europe andoccasionally in the United States. Heartcore has backed more than 70 exceptional founding teams.

## Supercell
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 6
- Stages: Seed, Corporate Round
- Focus: Gaming, Video Games, PC Games

Visit Supercell.com and find out more about us and our games.

## VNT Management
- Type: VC Fund
- Location: Vaasa, Western Finland, Finland
- Relevant deals: 6
- Stages: Series B, Seed
- Focus: Manufacturing, Electronics, Information Technology

VNT Management is a venture capital management company that offers its services to investors and entrepreneurs.The company offers investors with 3 venture capital funds, all of which focus on clean technology. Furthermore, it offers an IRR of 25% and a position in the top quartile of European venture capital funds. Entrepreneurs are offered withsupply management, business idea, application, and product concept development, and technology scanning and evaluation services.VNT Management was founded in 2002 and is based in Finland.

## CapMan
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 6
- Stages: Private Equity, Series B
- Focus: Software, Information Technology, Manufacturing

CapMan is a leading Nordic private assets management and investment company. They have built value in unlisted businesses, real estate and infrastructure for 30 years. They serve investors in the private assets class on a broad scale. Their roots are Nordic but their handprint and their networks are international.At CapMan, they build betterorganised, managed, and financially stable companies, because this contributes to overall economic well-being. More jobs and innovations equal better conditions for the society. Similarly, they invest in real estate and infrastructure, because they believe that functional high-quality environments and utilities are cornerstones for functioning societies.

## Valve Ventures
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 6
- Stages: Seed, Series A
- Focus: Energy, CleanTech, Oil and Gas

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

## Trind Ventures
- Type: VC Fund
- Location: Tallinn, Harjumaa, Estonia
- Relevant deals: 6
- 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.

## DN Capital
- Type: VC Fund
- Location: Menlo Park, California, United States
- Relevant deals: 6
- 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).

## Bragiel Brothers
- Type: VC Fund
- Location: San Francisco, California, United States
- Relevant deals: 6
- Stages: Seed, Series A, Pre-Seed
- Focus: Software, FinTech, Information Technology

Bragiel Brothers is an early-stage venture capital fund that invests in seed and Series A rounds.
Dan Bragiel launched the firm in San Francisco, California in 2016.

## Taaleri
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 5
- 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.


## European Investment Bank
- Type: VC Fund
- Location: Luxembourg, Luxembourg, Luxembourg
- Relevant deals: 5
- Stages: Debt Financing, Post-IPO Debt
- Focus: Biotechnology, Health Care, Software

European Investment Bank (EIB) provides lending, borrowing, and treasury services primarily in the European Union.The company offers project loans for the public and private sectors; loans to banks and other intermediaries; structured finance products; guarantees and securitization instruments for senior and subordinated debts; project bonds;equity and fund investment products such as infrastructure equity and debt funds, and environmental funds; and venture capital funds and security packages for funds.The company also offers microfinance; risk sharing finance for research, development, and innovation projects; finance and technical expertise for sustainable energy projects; infrastructure project advisory services; support for urban development projects; guarantees for transport infrastructure; and funding for public-private partnerships and small- and medium-sized enterprises.EIB serves the transportation, global loans, energy, industry, health, education, water, sewerage, infrastructure, services, telecommunications, agriculture, and fisheries sectors.European Investment Bank was founded in 1958 and is based in Luxembourg.

## Nordic Option
- Type: VC Fund
- Location: Oulu, Oulu, Finland
- Relevant deals: 5
- 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.

## Sparkmind.vc
- Type: VC Fund
- Location: Helsinki, Southern Finland, Finland
- Relevant deals: 5
- Stages: Seed, Series A
- Focus: Education, EdTech, E-Learning

Sparkmind.vc is the first Nordic venture capital company focused on the learning sector. The company invests in teams transforming early childhood, K12, higher, secondary and vocational education as well as corporate and lifelong learning. The investment sweet spot of the company is from seed to international growth phase with single investments upto €5m.

## Creandum
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 5
- Stages: Series A, Seed, Series B
- Focus: Software, Information Technology, Mobile

We support early-stage founders in building global, category-defining companies. From Seed to IPO and beyond.

## Northzone
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 5
- 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.

## Proxy Ventures
- Type: VC Fund
- Location: London, England, United Kingdom
- Relevant deals: 5
- 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.

## Bonnier Ventures
- Type: VC Fund
- Location: Stockholm, Stockholms Lan, Sweden
- Relevant deals: 4
- Stages: Seed, Series A
- Focus: Health Care, Digital Media, Software

Bonnier Capital is the investment division of the Bonnier Group. Since 2016, we invest in promising companies in structurally growing industries and have become a reliant investment partner to companies and funds of various sizes.

## Makers Fund
- Type: VC Fund
- Relevant deals: 4
- Stages: Seed, Series A, Series B
- Focus: Gaming, Video Games, Online Games

Makers Fund is a global interactive entertainment venture capital firm focused on early stage investments. The team supports founders through an extensive network and deep experience in the industry.

## Novartis Venture Fund
- Type: VC Fund
- Location: Basel, Basel-Stadt, Switzerland
- Relevant deals: 4
- Stages: Series B, Series A, Series C
- Focus: Biotechnology, Health Care, Therapeutics

Our primary focus is on the development of novel therapeutics and platforms. We balance the therapeutic focus with investments in medical devices, diagnostics or drug delivery systems. In our investments we look for unmet need and clinical impact, novel proprietary science and understanding of mechanism, management and board experience and capitalefficiency in the program.We prefer to have our initial investment at the early stage to build the company and follow with additional investment in pace with the company:tm:s progress. We continue our approach of larger focused investments and anticipate total investments up to USD 30 to 50 mio per company over its life, but it can be as little as 100'000 USD to get started. We will increase our activities to lead or co-lead deals further and remain open to participate in larger syndicates. SectorsNew therapeutics & platformsMedical devices/implantsDiagnostics/biomarkersDrug delivery/biopolymersGeographyUSA/CanadaEuropeSwitzerlandAsia/Pacific

## Wellington Partners
- Type: VC Fund
- Location: Munich, Bayern, Germany
- Relevant deals: 4
- Stages: Series A, Series B
- Focus: Health Care, Biotechnology, Medical

Wellington Partners is a venture capital firm that invests in technology and life sciences companies, focusing on Digital Media, Software, Electronics & Photonics, Resource Efficiency, and Biotech/Life Sciences. It is committed to providing outstanding entrepreneurs with the necessary resources to fund their strategies. We typically leadfinancing rounds ranging from € 0.5 million to € 20 million. Depending on the maturity of the company, its own commitment can go as high as € 15 million.Wellington was established in 1998 and has offices in Munich, London, and Zurich.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co