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Top 5 Venture Capital Firms in Finland


Finland’s venture capital landscape is rich and varied, home to numerous firms that play a vital role in driving innovation. In compiling our list of the top five venture capital firms based in Finland, we meticulously considered the number of deals each firm completed annually, ensuring a data-driven approach. While we acknowledge the presence of many outstanding venture capital firms within Finland, space constraints allow us to highlight only the most active players. Our focus is on those firms headquartered in Finland, recognizing their significant contributions to the startup ecosystem both locally and internationally. This list is a nod to those firms’ relentless pursuit of growth and excellence.


Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies. With the initial ticket sizes of €150k – 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

Sector focus: Software, Information Technology, Artificial Intelligence, Machine Learning, Internet

Round: Early Stage Venture, Seed

Total investments: 106

Founding Year: 2016

Notable Investments: Workfellow, ReOrbit, Fixably, Aibidia, IPRally


Maki.vc is a European venture capital firm specializing in seed-stage investments. They focus on partnering with deep tech and brand-driven companies that challenge conventional norms. The firm is dedicated to supporting entrepreneurs with innovative scientific advancements and a deep understanding of customer needs. Maki.vc stands out for its commitment to backing audacious founding teams and defending unconventional ideas, with an emphasis on building iconic brands and providing more than just financial support. Their approach includes a global network of experts to assist founders in future-proofing their companies.

Sector focus: Software, Information Technology, SaaS, Artificial Intelligence

Round: Early Stage Venture, Seed

Total investments: 69

Founding Year: 2018

Notable Investments: CardioSignal, QDI systems, Databutton, Strise, Quanscient

Lifeline Ventures

Lifeline Ventures is a venture capital firm that emphasizes supporting resilient founders at the early stages of their companies, often as the first investor. They focus on a wide range of industries, including health, consumer internet, games, and deep technology. The firm values long-term partnerships with founders and offers them hands-on support. They pride themselves on being a trusted advisor and partner, rather than just a funding source, helping startups to build their vision into successful companies.

Sector focus: Software, Health Care, Apps, E-Commerce, Biotechnology

Round: Early Stage Venture, Private Equity, Seed

Total investments: 155

Founding Year: 2009

Notable Investments: Solar Foods, Risk Ledger, Measurlabs, Steady Energy, Solu

Gorilla Capital

Gorilla Capital is a venture capital firm that primarily invests in early-stage, sector-agnostic startups in the Nordics and Baltics, often being the first institutional investor. They focus on “camel” companies, which they describe as ambitious yet resilient startups. Their investment strategy is based on practicality and likelihood of success, rather than mere potential. Gorilla Capital’s team comprises individuals with entrepreneurial experience and a history of successful company exits. They offer hands-on support, mentoring, and a systematic approach to understanding customer needs, favoring sustainable, step-by-step growth.

Sector focus: Software, Information Technology, Internet, Artificial Intelligence, SaaS

Round: Convertible Note, Early Stage Venture, Seed, Venture

Total investments: 55

Founding Year: 2018

Notable Investments: DealGuru, sommifyAI, Jungle AI, Upsy Company, Xiphera


Inventure VC is a venture capital firm that primarily invests in early-stage companies in the Nordic and Baltic regions. Known for being the first institutional investor in many cases, they have a track record of backing over 90 teams since 2005 in various sectors. Inventure focuses on identifying ambitious founders and helping them overcome regional challenges to reach the next level of growth. They offer investment tickets ranging from €300k to €5m, with a sweet spot of €1-3m, and have a generalist approach with strong convictions in their investments.

Sector focus: Software, Information Technology, Mobile, SaaS, Artificial Intelligence

Round: Early Stage Venture, Seed

Total investments: 147

Founding Year: 2005

Notable Investments: Reveel, Leya AI, Capalo AI, Getpaid, ReOrbit


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