The Finnish Business Angels Network (FiBAN) and Finnish Venture Capital Association (FVCA) have released their statistics on private investments and venture capital investments in Finnish companies in 2016.

 The statistics include Finnish venture capital investments (80 M€), direct foreign investments (216 M€), business angel investments (53 M€) and other sources of finance including crowdfunding (34 M€). In total over 400 startup received investments.

Investments in Finnish early stage companies reached a new record high in 2016. Investments in Finnish early stage companies have grown 42 % in 2016. Records were also broken in business angel investments, crowdfunding and foreign direct investments. The doubling of foreign direct investments in a year speaks volumes of the quality of Finnish growth companies and startup ecosystem. Additionally, Finnish venture capital expertise is in growing demand internationally as investments by Finnish venture capital firms to foreign companies tripled to 40 million Euros.

​Finnish Business Angel Investments 2016

Business angels invested in median 20.000 euros per company, per round giving an individual angel a 2% median ownership in the company. The median for the total investment round was 218.500 euros with a 1 million startup valuation. ​

Summary – Finnish startup and high-growth investments

Finnish angel investments total€24M€24M€33M€37M€53M
Startup investedn.100n.200238322324
Average investment (€)€60.000€49.000€68.000€54.200€72.600
Median investment (€)€30.000€25.000€25.000€20.000€20.000

Largest funding rounds in Finnish companies 2016

CompanyFunding round €M
AlphaSense24 Services19
Verto Analytics14,2
Wolt Enterprises11
KNL Networks9
MariaDB Corporation8,3

Finnish Venture Capital Investments

Finnish Venture Capital Investments

  • Increasing demand for Finnish venture capital expertise. In addition to the 80 M€  invested in Finnish companies the Finnish VCs also invested 40 M€ to foreign companies. Investments in foreign companies tripled from 2015.
  • Seed stage investments almost quadrupled in five years. Finnish companies in seed stage received 14 M€ in venture capital investments. In 2011 seed stage investments were 3 M€ in total.
  • Finnish venture capital investors co-invested in more than half of international funding rounds in Finnish companies. The co-investment rounds between Finnish and foreign investors totalled to 163 M€ in Finnish companies. Finnish VCs share of the investment amount was 44 M€.
  • Finnish venture capital -funds raised 114 M€ of new capital. The new funds raised will be invested in early stage companies in the next years. Investors in fund include for example pension funds, public sector funds, family offices, corporations, insurance companies and private individuals.

​Additional information to be published:


Finnish Venture Capital Association (FVCA)
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.

Pia Santavirta
FVCA, managing director
More information:

Finnish Business Angels Network (FIBAN)
FiBAN is a Finnish, national, non-profit association of private investors inspiring private startup investments The FiBAN network is one of the largest and most active business angel networks in Europe representing over 500 approved members. FiBAN is a member of the European Business Angels Network (EBAN).

Jan Oker-Blom                     
FiBAN, managing director       
More information: