Finnish VC Innovestor launches €60M fund to invest in Baltic and Nordic startups

Innovestor, a Finland-based venture capital firm, has launched a new life science & health fund focusing on startups from the Baltic and Nordic regions. The fund has completed the first closing of €60 million and aims to increase its capital to €90-120 million within 12 months, ArcticStartup reports.

  • Founded in 2014, Innovestor is a Helsinki-based early-stage venture capital investment firm. It portfolio in the Nordics includes approximately 100 growth companies across multiple sectors of technology and life science & health.
  • The new €60 million fund aims to find the next billion-dollar innovations from universities and strong research-based companies. State-backed Finnish Industry Investment acts as an anchor in the fund investing €30 million in it.
  • The fund is the first in Finland in over ten years that focuses solely on life sciences. Innovestor’s ticket size ranges from €250,000 to €1.5 million. The maximum allocation with follow-on investments is €3 million per company.
  • Currently, the company manages four VC funds worth a total of €190 million.
  • Innovestor wants to invest in early-stage inventions of around 20 research-based companies to commercialize them and bring science to market.