What stage does Courage Ventures Funds invest at?

Courage Ventures Funds invests at the Seed, Series A stages.

What sectors does Courage Ventures Funds focus on?

Courage Ventures Funds focuses on Cleantech, Digital Health, EdTech, Healthtech, Impact & Social Good.

Where is Courage Ventures Funds located?

Courage Ventures Funds is headquartered in Helsinki, FI.

Courage Ventures Funds

Venture capital

Helsinki · Seed–Series A · 2 people tracked

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Investment thesis

Courage Ventures invests in early-stage digital health startups across the Nordics and Baltics, a region it views as having a sophisticated digital health ecosystem poised to drive future innovation. The firm cites exceptional access to early deal flow through extensive regional networks and a track record of helping Nordic companies enter the US, which it considers the most attractive growth and exit market in healthcare. Sustainability is central to its approach: it applies ESG-based selection criteria to back startups that treat environmental, social, and governance factors as strategic priorities.

Invests inCleantech Digital Health EdTech Healthtech Impact & Social GoodEuropeFinlandHelsinkiNorwaySweden

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Series A

Helsinki, FI

Instruments

Equity

Founded

2015

Team · 2 people

from public directories

Meri Helleranta· Partner· Luxembourgin

Meri Helleranta is a partner at Metl Ventures, where she invests in health companies across Northern Europe with a focus on the Indian market, alongside roles on the EISMEA Investment Jury and the University of Helsinki's Commercialization Advisory Board. She spent 14 years at the World Bank and Inter-American Development Bank managing global health investments, including designing child health and early childhood development programs in Haiti and Nicaragua, and serving as an expert member on EU food quality and safety policy. Helleranta holds advanced degrees in clinical nutrition, public health, business administration, and a Ph.D. in cardiovascular epidemiology, with published research in peer-reviewed journals including The Lancet and Circulation.

m•••@couragevc.comreveal

Will Cardwell· Managing Partner· Helsinki, Uusimaa, Finlandin 𝕏

Will Cardwell is a partner at venture capital funds Courage Ventures in Finland and Open Circle Capital in Lithuania, and serves as a Professor of Practice at UNC Kenan-Flagler Business School. He previously founded and directed the Aalto Center for Entrepreneurship and managed Technopolis Ventures, Finland's largest technology incubator. His background includes roles as a venture capitalist, investment banker, startup CEO, and researcher across Finnish and European technology sectors over more than 15 years.

w•••@couragevc.comreveal

Frequently asked questions

What stage does Courage Ventures Funds invest at?: Courage Ventures Funds invests at the Seed, Series A stages.
What sectors does Courage Ventures Funds focus on?: Courage Ventures Funds focuses on Cleantech, Digital Health, EdTech, Healthtech, Impact & Social Good.
Where is Courage Ventures Funds located?: Courage Ventures Funds is headquartered in Helsinki, FI.

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