FiBAN’s vision is that Finland would be the best place in the world for angel investing. In many ways, business angels already have solid operating conditions in Finland, but there is still a lot that we can improve on. At FiBAN, we are working hard to improve these conditions. Going forward we want to be even more vocal towards our members regarding our advocacy work and the projects we are involved in. In addition, we hope to hear our member’s position and have a clear dialogue surrounding our proposals.

FiBAN’s mission is to inspire private investments into unlisted startups and growth companies.

Successful angel investing requires quality deal flow, a smooth investment process, and the possibility for profitable investments. It is critical to develop ways to channel capital more efficiently towards early-stage companies. This includes both the profitability and ease of early-stage investment operations. 

FiBAN’s policy framework has three focus points: increasing education, reinforcing understanding, and the removal of technical barriers to investing. Among our proposals for action is, among other things, that the trade register should approve documents in English in order to avoid duplication of work that consumes unnecessary resources in many startups. In addition, investment processes should be streamlined and startup investments should be made attractive tax-wise relative to other forms of investment. Currently, angel investments are taxed stricter compared to many other forms of investment. It is also important to continue the good cooperation with the European Angels Fund, through which there are already several angel investors in Finland who have been able to double their resources. Other co-investment models with the public sector should also be developed.

Like many other Finnish associations, we share a deep concern regarding how to ensure that we are able to attract top experts to Finland and that the shortage of highly-skilled specialists does not become a bottleneck. The recruitment of international talents should be further eased by, for example, reviewing labor needs assessment and visa policies.

“The results of FiBAN’s advocacy suggestions can be seen, for example, in the work of the Companies Act Reform Working Group. The working group ended up presenting e.g. promoting the digitalization of corporate governance, for example in the form of electronic shareholder communication and virtual general meetings, and the adoption of English-language documentation in the trade register; all things that streamline startup investing.” Reima Linnanvirta, Chair of the Board of FiBAN, shares regarding recent progress.

“During its 10-year history, FiBAN has already done a lot to promote angel investing and the development of private investments. It is important to continue the good cooperation with our local partners, co-investors, and the public sector while maintaining and strengthening our links with the European Business Angel Network EBAN and key EU bodies. In recent years, the number of foreign business angels in FiBAN’s member pool has grown, and we would like to see this trend strengthened. In December, when FiBAN’s 11th year of operation begins, we will raise our ambition level even higher. The elections in the coming years will provide an excellent opportunity for advocacy work to raise the voice of angel investors even louder, “continues Amel Gaily, FiBAN’s Managing Director.

Steering group for policy work founded – Share your views with us!

  • FiBAN has launched a steering group focused on policy work, which consists of experienced business angels. The group consists of Riku Asikainen, Reima Linnanvirta, Esa Mäkeläinen, Annukka Mickelsson, and Saga Forss. Interested in joining? Reach out to Amel.
  • Going forward we will be sharing our progress with our members regularly. During Angel Day, which will be arranged in connection with the Fall meeting, there will be two panel discussions around the topic. Angel Day will be arranged, Tuesday, November 17th from 15-18, online. 
  • Share your views with us: how could Finland advance angel investing? We look forward to hearing both bigger and smaller ideas.

More information:

Amel Gaily, FiBAN Managing Director,
Reima Linnanvirta, FiBAN Chair of the Board,


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