Finnish growth investments 2015 – Over €250M in 400 growth companies

March 24, 2016

The Finnish Business Angels Network (FiBAN) and Finnish Venture Capital Association (FVCA) have released their statistics on private investments and private equity investments in Finnish companies in 2015.

The total amount invested in Finnish early stage companies in 2015 was 253 million euros. The statistics include Finnish venture capital investments (96 M€), direct foreign investments (94 M€), business angel investments (37 M€) and other sources of finance including crowdfunding (26 M€). 

A closer look at Finnish angel activity year 2015 here

“Investments in Finnish early stage companies reached a new record high in 2015. The year 2016 has also started off well when Finnish company M-Files raised one of the biggest funding rounds in recent history in Finland,” comments Pia Santavirta, the Managing Director of Finnish Venture Capital Association. 

Investments in Finnish early stage companies are now 2.5 times greater than in 2011. However, there is still room to grow. “For instance, attracting international venture capitalists and fund investors to Finland is very important,” says FVCA’s board member, Sami Lampinen. When the teams of Finnish startups and venture capital investors’ get more international this increases the interest of international investors’ even further. 

Positive development could be accelerated with changes in national legislation. “By making it easier for non-profit foundations to invest in private equity and venture capital funds, more capital would flow to Finnish early stage companies,” says Santavirta. As the Council of Finnish Foundations has stated, Finland needs all the capital available to fund companies and new innovations. 

“In 2016 Finnish private investors will have a more important role as the Finnish public financial institutions, like Finnvera and Tekes, have moved away from early stage direct investments, and focus now in supporting the startup ecosystem through funds”, says the Chairman of Finnish Business Angels Network Jaakko Salminen. This change in the public institutions’ strategy might affect the investment activity negatively in 2016.

However, the Finnish private startup investment ecosystem has developed rapidly, with FiBAN now the largest and most active angel networks in Europe.
Finnish business angels invested in 271 startup companies in 2016, which is an increase of more than 10% from the year before. So far angel investment activity is estimated to have created 13.000 jobs in Finnish startups. In 2015 the median investment per round of an individual angel investor decreased from 25.000€ to 20.000€. This is a sign of a matured angel investment culture, where investors decrease risk through diversified investment portfolios and co-investing.



Additional information:


Additional information:

Finnish Venture Capital Association (FVCA) promotes the interests of venture capital and private equity investors and their positive impact on growth companies and wider national economy. Majority of Finnish private equity investors are members of the association. Private equity investors – Building growth.
More information:

FiBAN is a Finnish, national, non-profit association of private investors that aims to improve the possibilities for private persons to invest in unlisted potential growth companies. The association’s work is based on the activity by private investors and cooperates with networks supporting high-growth goals.

The FiBAN network is today one of the largest and most active business angel networks in Europe with over 500 approved members and over 100 events held year 2015. FiBAN is a member of the European Business Angels Network (EBAN).
More information: