Innovestor launches €30M angel co-fund to support Finnish startups

Helsinki-based early-stage fund Innovestor in collaboration with Business Finland Venture Capital, has announced the launch of €30 million VC fund Kanssasijoitusrahasto. The fund is dedicated to seeding the growth of Finnish startups in collaboration with angel investor groups. 

  • Founded in 2014, Innovestor’s portfolio in the Nordics includes approximately 100 growth companies across multiple sectors of technology and life science & health. The fresh fund aims to support early-stage investments in Finland and fostering diverse Nordic investment ecosystem.

“Especially in today’s market climate, where there is a strong demand for financing, the introduction of a novel investment approach like the Angel CoFund couldn’t be more timely. This new fund enables us to greatly ease the early-stage funding landscape for emerging Finnish startups on a broad scale,”

 Wilhelm Lindholm, CEO of Innovestor commented.

Some key features of Kanssasijoitusrahasto fund:

  • Business Finland Venture Capital joins the capital;
  • Collaborative investments with groups of angel investors;
  • A goal to invest in approximately a hundred Finnish seed-stage companies;
  • Initial investments ranging from €50,000 to €300,000, aligning with the investment amounts of angel investor groups in the first round;
  • Sector-agnostic, but with primary focus on companies promoting green transition and sustainable development;

In February 2022, Innovestor already launched €60 million fund to invest in Baltic and Nordic startups. It was the company’s fourер VC fund, worth a total of €190 million.