Tesi (Finnish Industry Investment Ltd) — Full Portfolio

3DBear offers Simuna, a browser-based digital learning solution for vocational education that uses simulation content and AI-driven pedagogy to help students practice real work-life situations.

AI & Machine LearningEdTech

JKJussi Kajala(Founder)in

Co-investorsGOGorilla CapitalRERethink Capital Partners

3TS Capital is a technology-focused investment firm that leads and co-leads growth rounds in high-growth SMEs, backing proven regional leaders and innovative global challengers.

Sector Agnostic

Co-investorsCACatalyst RomaniaCICisco InvestmentsBUBurda Principal InvestmentsGRGrazia Equity GmbHNANAPSISingular+1 more

Adamant Health provides AI-powered disease management tools for Parkinson's disease, enabling data-driven treatment decisions and patient-centric care models.

AI & Machine LearningDigital HealthHealthtechMedical DevicesFinland, FI

PCPaulus Carpelan(CEO, Co-founder)inSRSaara Rissanen(CTO & Chief Scientist, Co-founder)in

Co-investorsBUButterfly VenturesVOVoima Ventures

Aisti is a Finnish company that develops and manufactures sustainable acoustic building materials for interior environments.

CleantechConstruction TechNew MaterialsWellness & Fitness

Co-investorsVOVoima VenturesEUEuropean Investment Bank

Aiwo provides customer contact intelligence analytics to large B2C companies, helping them identify operational inefficiencies and reduce costs by analyzing patterns in customer interactions.

AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaSFinland, FI

Co-investorsMIMidinvest Management Oy

3Button Group develops and delivers standardized, modular industrial automation solutions using robotics, mechanics, and control systems to automate and improve customers' production processes.

Advanced ManufacturingCleantechClimate TechDeep TechImpact & Social GoodRoboticsJönköping, SE

Thomas Rosell(CEO)

Co-investorsKEKeiretsu Forum

Algorithmiq develops quantum algorithms that combine classical and quantum computers to solve problems in chemistry and life sciences, with a focus on drug discovery and development for rare diseases.

BiotechDeep TechQuantum ComputingHelsinki, FI

SMSabrina Maniscalco(Founder)inMRMatteo Rossi(Founder)inBoris Sokolov(Founder)Guillermo García-Pérez(Founder)

BoardLKLauri Kokkila(Director)inHOHaakon Overli(Director)in

Co-investorsENEntourage VenturesINInventureINInventureK5K5 GlobalUNUnited VenturesDADawn Capital

Altum Technologies develops ultrasound technology for industrial cleaning, fouling prevention, and separation in production processes.

Advanced ManufacturingAI & Machine LearningCleantechClimate TechEnterprise SoftwareIoTHelsinki, FI

EHEdward HaeggströmMTMatias Tainela(CEO)inBMBo Malmberg(CCO)inPMPetro Moilanen(CScO)inTimo Rauhala(CTO)in

Co-investorsLILifeline VenturesSASalica Investments

Alvar Pet makes dog food and supplements with sustainable, additive-free ingredients and veterinarian-developed, science-based recipes for different life stages and needs.

ConsumerDirect to ConsumerE-commerce

Hanna Lemmetti(Founder)Henna Söderholm(Founder)Ilari Haataja(Founder)Sini Saalasti(Founder)

Annie is a chatbot platform that helps educational institutions provide student support by routing inquiries to appropriate resources and monitoring support effectiveness.

AI & Machine LearningEdTechMental HealthSaaS

Co-investorsSUSuperhero Capital

Antler is a global early-stage venture capital firm that invests in founders from first check through IPO, offering capital, network, and community.

Sector Agnostic

MGMagnus Grimeland(Founder)in

Co-investors191982 VenturesACAC VenturesAGAgaeti VenturesANAntler AustraliaBRBrighteye VenturesELElmehøj Ventures+10 more

Aranda is a pharmaceutical company focused on developing and commercializing prescription and OTC products.

BiotechDigital HealthHealthtechMedical DevicesKuopio, FI

MKMika Käyhkö(CEO)inAnu Muona, PhD(Founder and COO)

Co-investorsINInnovestor VenturesINInvesdorINInnovestor

Armada provides tailored private debt financing solutions for growth-stage, profitable companies in the Nordic and DACH regions.

Enterprise SoftwareFintechFinland, FI

Fira is an AI-powered financial research platform that helps analysts and investors query and analyze complex financial documents, SEC filings, and internal data.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareFintechLondon, GB

ATAlex Tkachenko(Founder/CEO)inATAlexey Taktarov(CTO)inAlex Tkachenko Alexey Taktarov(Founder)

Co-investorsY Y Combinator

London-based European venture capital firm founded in 2006 by Skype co-founder Niklas Zennström, investing from seed to pre-IPO.

Co-investorsBEBeast VenturesPEPeakQUQuadrille CapitalRERedbus VenturesSASamsung Catalyst FundBMBMW i Ventures+2 more

Aurealis Therapeutics is a clinical-stage synthetic biology company developing multi-targeting cell and gene therapies for chronic wounds, cancers, and inflammatory diseases.

BiotechDeep TechMedical Devices

Juha Yrjänheikki(CEO)Laurent Décory(COO)Hanna P. Lesch(Chief Technology Officer)

Aurelia manufactures efficient turbines for power generation that operate on multiple fuel types including hydrogen and biogas, with a compact design requiring fewer moving parts and lower maintenance compared to conventional turbines.

CleantechEnergyHardware

Co-investorsFIFirst Imagine!GRGreen Campus Innovations

Aurora develops plug-and-play propulsion and end-of-life deorbiting systems, including ARM thrusters and Plasma Brake tethers, for CubeSats and SmallSats up to 300kg.

Deep TechHardwareSpace TechEspoo, FI

PERTTU YLI-OPAS(CEO)in

Co-investorsKLKluz VenturesPRPractica Capital

Aurora develops compact propulsion and end-of-life deorbiting systems for CubeSats and SmallSats up to 300kg, including its ARM thruster modules and Plasma Brake tethers.

Deep TechHardwareSpace Tech

Helsinki-based Aurora Studios finances, develops, produces and distributes films and TV dramas in the Nordics and internationally.

Teea Hyytiäin

Avenue Biosciences develops machine learning-enabled chemistry and software to accelerate the discovery and manufacturing of protein biologics for the biotechnology and therapeutics industry.

AI & Machine LearningBiotechDeep TechHelsinki, FI

Ville Paavilainen(Co-founder & Research Director)Tero-Pekka Alastalo(Founder)inAlastalo(MD, PhD)Rosti(PhD, eMBA)

Co-investorsBABalnord Sp. z o.o.INInventureSTStartXINInventureVOVoima Ventures

Balderton Capital is a London-based venture capital firm investing exclusively in European-founded technology companies.

London, GB

BLBernard Liautaudin

Co-investorsMEMetavallon VCONOnstageRARabo Corporate VenturingATAtomicoBEBessemer Venture PartnersEQEQT+1 more

The European Investment Fund is a multilateral development bank with AAA credit ratings that provides capital and financing to foster economic impact through its strong balance sheet and governance.

CleantechClimate TechEnergyEnterprise SoftwareFintechImpact & Social GoodLuxembourg, EU

Co-investorsALAlpine Space VenturesBOBOMCRCrowberry CapitalINInvivo Capital PartnersKHKhanuM8M80 Partners+2 more

Basemark develops software solutions for automotive OEMs and tier suppliers to reduce chip requirements in vehicles and accelerate the development of sustainable vehicles by minimizing environmental impact from semiconductor manufacturing.

CleantechDeep TechDefense TechDeveloper ToolsHardwareMobility & TransportationHelsinki, FI

Co-investorsCOConstructor Capital USETETF PartnersNENexit Ventures

BC Platforms provides AI-enabled, federated data technology and predictive analytics that give healthcare and life sciences organizations access to real-world patient and genomic data for drug development and precision medicine.

AI & Machine LearningBiotechData & InfrastructureHealthtechZurich, CH

NDNino da Silva(Executive Officer)inTSTero Silvola(Executive Officer, Director)inMukhtar Ahmed(Chief Executive Officer)in

BoardHannu Vaajoensuu(Director)Jari Heikkinen(Director)Erich Platzer(Director)

Co-investorsJOJolt CapitalSTStartAngels NetworkDEDebiopharm Innovation Fund

BCB Medical is a clinical data analytics company that collects, processes, and analyzes real-world health data from hospitals, healthcare professionals, and patients to support evidence-based treatment decisions.

Data & InfrastructureDigital HealthHealthtechHelsinki, FI

Co-investorsBABackstage ABINInnovestor VenturesSTStandout Capital IIINInnovestor

Betolar develops low-carbon materials technology, including alternatives to cement such as ground granulated blast furnace slag for low-carbon concrete mix designs.

Circular EconomyCleantechClimate TechConstruction TechNew MaterialsEspoo, SE

MWMikko Wirkkala(Chief Financial Officer)in

Co-investorsVOVoima Ventures

Blastr Green Steel is a steel producer developing a vertically integrated, low-cost steel value chain to produce premium steel with significantly lower emissions.

Advanced ManufacturingCleantechNew Materials

Blume Equity is an investment and advisory firm led by experienced professionals from investing, consulting, and operations backgrounds who help entrepreneurs accelerate growth while pursuing Net Zero sustainability goals.

CleantechClimate TechImpact & Social Good

Co-investorsIRIreland Strategic Investment FundWAWave VenturesIMImpact Engine

Brella provides an event platform with matchmaking and networking capabilities, helping event organizers connect attendees and facilitate meaningful professional relationships across conferences and events globally.

AI & Machine LearningEnterprise SoftwareMarketing TechSaaS

Co-investorsVEVendep Capital

Butterfly Ventures is a European venture capital firm committed to carbon-neutral operations, acquiring emission allowances to offset its annual carbon footprint while investing in early-stage startups.

Advanced ManufacturingClimate TechDeep TechImpact & Social GoodIoTOulu, FI

JWJohan Wiklund(Founder and CEO)Reinhardt Kotzé(Chief Technology Officer)

Co-investorsINInflexor Ventures

Cactos develops energy storage solutions for industrial and sustainable energy infrastructure applications.

Advanced ManufacturingCleantechEnergyHardwareIoTPropTechFinland, FI

ONOlli Nuutila(Founder)inOskari Jaakkola(CEO)

Co-investorsFJFJ LabsSUSuperhero CapitalUNUnion Square Ventures (USV)FOFounders

Cajo Technologies develops laser-based marking solutions for product traceability without chemical additives, serving manufacturers in materials processing and industrial sectors.

Advanced ManufacturingCleantechKempele, FI

Co-investorsEMEmerald Technology Ventures AgINInnovestor VenturesVNVNT Management

Capalo AI develops AI-powered software to optimize energy storage systems, lower price volatility, and reduce carbon emissions.

AI & Machine LearningCleantechClimate TechEnergyHelsinki, FI

HTHenri Taskinen(Co-Founder & Chief Executive Officer)inRKRiku Kukkonen(Co-Founder & Chief Sales Officer)inEJEerik Jauhiainen(Co-Founder & Chief Technology Officer)inTLTeemu Lappalainen(Co-Founder & Development Director)in

Co-investorsHEHeartcore CapitalINInnovestor VenturesINInventureVEVentureFriendsINInnovestorINInventure

CapMan is a Nordic private asset management company that invests in real estate, infrastructure, natural capital, and unlisted companies across the Nordic region and Europe.

Data & InfrastructureEnergyFintechLogistics & Supply ChainSector AgnosticHelsinki, FI

Carbo Culture develops carbon removal technology leveraging natural processes combined with advanced engineering to remove carbon dioxide from the atmosphere at scale.

AgTechCircular EconomyCleantechClimate TechDeep TechLondon, NL

HMHenrietta Moon(Founder)inChris Carstens(Founder)in

Co-investorsALAlumni VenturesAUAuxxoBLBlue Ivy VenturesBRBragiel BrothersCHCherry VenturesLILifeline Ventures+6 more

Cloudberry is a €30M early-stage venture capital fund investing €400K to €1M into pre-seed and seed startups working on semiconductors, photonics, and advanced materials, mainly in Europe.

Deep TechHardwareSemiconductorsHelsinki, FI

RKRené Kromhof(Founding Partner)inVPVeera Pietikäinen(Founding Partner)in

Co-investorsGLGLOBALFOUNDRIES

Conor Venture Partners is an Espoo-based early-stage VC firm backing deep tech companies in the Nordics and Baltics.

Creandum is a venture capital firm whose team is made up of former operators, founders, engineers, and specialists who back startups and their founders.

Sector Agnostic

SHStaffan Helgesson(Founder)inAlberto Menolascina(Founder)Yusuf Saban(Founder)Erik Olofsson(Founder)Hans Andersson(Founder)Hans Dahlström(Founder)

Co-investorsBUButterfly VenturesCACalm/Storm VCCRCrane Venture PartnersFRFrontline VenturesGOGolden Sparrow Ventures, LlcVIVintage Investment Partners+10 more

CurifyLabs develops an automated compounding system for pharmacies that uses robotics, GMP-manufactured excipient bases, and integrated quality control software to enable faster, safer preparation of customized medications.

Digital HealthHealthtechMedical DevicesHelsinki, FI

CTCharlotta Topelius(CEO & Founder)inNSNiklas Sandler TopeliusNSNiklas Sandler(CTO & Founder)in

Co-investorsHEHealthCapLILifeline VenturesSASandwater

DAL Partners is a Finnish investment firm that takes majority or joint ownership in a small number of established, profitable Finnish SME service and technology companies (typically €3–10M revenue) and works alongside management operationally.

AI & Machine LearningEnterprise Software

DevCo is an investment and venture capital firm that provides portfolio companies with hands-on operational resources, customized ownership structures, and capital to support growth.

Deep TechEnterprise SoftwareSector Agnostic

OKOtto Kukkonen(DevCo Partners)inLSLauri Stadigh(DevCo Partners)in

BoardMatti Alahuhta(Chairman of the Board of DevCo Partners)

DN Capital is a global early-stage venture firm founded in 2000, investing in Seed, Series A and select Series B companies across Europe and North America.

London, GB

Eagle Filters Group is a material science company that develops advanced filtration media for the energy industry and other applications.

Advanced ManufacturingCleantechEnergyNew Materials

Jarkko Joki-Tokola(CEO)

Co-investorsSOSouthern Cross Group

Elcoline provides industrial maintenance, installation, and manufacturing services to industrial and energy sector customers, covering daily maintenance, project execution, condition monitoring, and production component manufacturing.

Advanced ManufacturingEnergyEnterprise Software

Pekilo is a mycoprotein-based ingredient that provides digestible proteins and dietary fiber as a sustainable alternative to meat products.

AgTechBiotechCircular EconomyFoodTechImpact & Social GoodFinland, FI

Co-investorsAQAqua SparkNONordic Foodtech VCVOVoima Ventures

EQT Ventures is a European multi-stage venture capital firm that leads early-stage rounds of EUR 2-50m in technology companies.

VC fund (founded 2006) supporting entrepreneurs with investment capital and experience.

Co-investorsENEnBW New Ventures GmbHKFKfW CapitalBRBritish Patient CapitalEUEuropean Investment Fund

Evli is a Finnish asset management and fund company offering discretionary wealth management, mutual funds, and alternative funds for private, institutional, and professional investors.

FintechHelsinki, FI

Co-investorsEVEvli Growth Partners

Evolver Equity is an Alternative Investment Fund Manager based in Finland that provides investment management services to corporate customers and investors.

Enterprise SoftwareSector Agnostic

AI agents that work alongside employees to automate routine tasks and help workers focus on higher-value activities.

AI & Machine LearningEnterprise SoftwareFuture of WorkSector AgnosticSan Francisco, US

TSTopias Soininen(Partner)

Co-investorsBLBlackfinch Ventures

Finnforel operates indoor fish farms producing rainbow trout using Recirculating Aquaculture System (RAS) technology with full production traceability.

AgTechCircular EconomyFoodTechHollola, FI

MKMikko Karell(CEO)in

Co-investorsINInnovestor Ventures

Foamit is a glass recycler and manufacturer of foam glass aggregate, producing a lightweight, durable material made from recycled glass for use in infrastructure and building construction.

Circular EconomyConstruction TechNew Materials

Folmer Management is a Helsinki-based private equity firm investing in and developing Finnish small and mid-sized companies.

Geyser Batteries develops high-power heavy-duty energy storage systems for industrial applications, with a focus on circular economy principles and sustainable electrification.

CleantechEnergyHardwareHelsinki, FI

Co-investorsBUButterfly VenturesVOVoima Ventures

GISGRO is a SaaS platform that combines GIS and port management information systems into a single cloud-based digital twin for port operations.

Cloud ComputingEnterprise SoftwareIoTLogistics & Supply ChainSaaSHelsinki, FI

Co-investorsNONostetta Ventures

Gorilla Capital is a Nordic institutional angel investor (a "superangel") that backs capital-efficient, resilient early-stage startups—typically before product–market fit—led by founders using technology to solve business problems.

Sector Agnostic

RRRisto Rautakorpi(Founding & General Partner)inPLPetri Lehmuskoski(Founding & General Partner)inKVKirsi Vine-Haaparinne(General Partner)inPHPetter Hattenbach(General Partner, SWE & DK)in

GOS Group provides financial administration and financing services to small and medium-sized businesses, including bookkeeping, accounting, corporate finance, outsourced CFO support, and business analysis.

Enterprise SoftwareFintech

Ubotica develops artificial intelligence that runs directly on satellites to process Earth observation imagery in orbit, delivering real-time intelligence for maritime monitoring and other Earth observation applications.

AI & Machine LearningCleantechClimate TechDefense TechEnergySaaSSpace TechHelsinki, FI

Juha Stenberg(CEO)Ville Parviainen(CTO)Fintan Buckley(CEO)Stefan Sack(CEO)Raimel Medina(CTO)John Bourke(CFO)

Co-investorsFAFarvatn VenturePLPlanet 9 Capital

Gubbe provides comprehensive care services for elderly and disabled individuals, maintaining their wellbeing and independence through consistent personal assistance from dedicated caregivers visiting at home or care facilities across Finland.

HealthtechSocialHelsinki, FI

MHMeri-Tuuli Helin(Co-Founder & CEO)inSLSandra Lounamaa(Co-Founder)in

Co-investorsSPSpintop Ventures

Hadean Ventures is a European venture capital fund manager with over EUR 230 million in assets under management, with a track record in life sciences.

Biotech

Co-investorsFAFarvatn VentureKFKfW CapitalPLPlanet 9 Capital

Haltian is a Finnish IoT company that provides full-scale IoT solutions and smart building products, including its Empathic Building offering, to make spaces smarter and more sustainable.

HardwareIoTPropTechOulu, FI

TVTeemu Vaattovaara(Founder)inTLToni Leinonen(Founder)in

Co-investorsINInventureINInventure

happn is a dating app that connects people who have crossed paths in real life, enabling them to meet and date locally.

ConsumerSocial

Co-investorsDNDN CapitalFJFJ Labs

HealthCap is a venture capital firm and company creator focused on life sciences, investing in companies developing targeted therapies for rare diseases, cancers, and genetic diseases.

Heartcore is a European early-stage venture capital firm that invests in and supports technology founders from inception through liquidity.

ConsumerCrypto & Web3Sector AgnosticCopenhagen, DK

Co-investorsOVOVNI CapitalWEWestTech Ventures

Hedera Dx develops in-house, NGS-based liquid biopsy tests and clinicogenomic data solutions for decentralized oncology care, partnering with laboratories and clinicians to support cancer diagnosis and personalized therapy selection.

AI & Machine LearningBiotechDigital HealthHealthtechMedical Devices

TLTommi Lehtonen(CEO, Co-founder)inDLDamien Lapray(CCO, Co-founder, PhD)inCMChristian Meisel(CMO, Co-founder, MD PhD)inFRFrances Rhodius(CFO)

Co-investorsAMAmino CollectiveBOBootstrap EuropeHEHelsana HealthInvest AGINInventureINInventureVSVsquared Ventures

Hedera is a permissioned distributed ledger platform designed for enterprise applications, offering fast transaction finality, regulatory compliance, and institutional governance.

Crypto & Web3Enterprise SoftwareFintechRichardson, US

MHMance Harmon(Chief Executive Officer, Manager)inLBLeemon Baird(Manager)in

Co-investorsBABaboon VCBLBloccelerate VCBLBlockchain AssetsBLBlockwallDIDigital Currency GroupDIDigital Strategies+14 more

HEI Schools develops and licenses a play-based, research-backed early childhood education model rooted in Finnish pedagogical principles to kindergartens and preschools globally.

EdTechHelsinki, FI

Lasse Lipponen(Founder)inPilvi Torsti(Founder)inMilla Kokko(Co-Founder)inAnne Rusanen(Founder)inInkeri Aimonen(CEO)inMilla Magia Kokko(Founder)

Co-investorsPRPractica Capital

HVR Cardio develops medical devices for cardiovascular applications, drawing on a management team with combined expertise in structural heart technologies and medical device commercialization.

BiotechDeep TechDigital HealthHardwareHealthtechMedical DevicesMinneapolis, US

Olli Keränen(Inventor, Founder and CEO)in

Co-investorsINIndustrifondenINInnovestor

Hydroline designs and manufactures custom hydraulic cylinders and IoT-based monitoring solutions for off-highway heavy and mobile equipment manufacturers.

Advanced ManufacturingHardwareIoT

Icebreaker is a venture capital firm investing in idea-stage startup teams across the Nordic and Baltic regions.

Sector AgnosticNorth Attleboro, US

Lasse Lehtinen(Co-founder & General Partner)Aleksi Partanen(Co-founder & General Partner)Riku Seppälä(Co-founder & General Partner)Teddie Wardi(Co-founder & Special Advisor)Julio E. Vega(Mr. Vega is the Secretary of the Issuer.)Mark Brehaut(Executive Officer, Director, Promoter)

Co-investorsBUButterfly VenturesPRProdeko Ventures

ICEYE operates a satellite-based synthetic aperture radar (SAR) system that delivers persistent, real-time monitoring and damage assessment data globally.

Climate TechDeep TechDefense TechSpace TechFinland, FI

RMRafal Modrzewski(Founder)inPLPekka Laurila(Founder)in

Co-investorsDNDnx VenturesDRDraper AssociatesFOFOUNDER.orgGEGen CapitalGEGeneral CatalystINIn-Q-Tel+15 more

Iiwari is a Finnish technology company that develops indoor positioning and location-based tracking systems, built on research from the VTT research institute and multiple patents.

Deep TechHealthtechIoTSaaS

Co-investorsVOVoima Ventures

Innomost develops biobased raw materials from birch bark for use in cosmetics, packaging, coatings, adhesives, and industrial applications, replacing fossil-based alternatives.

BiotechCircular EconomyCleantechNew Materials

Co-investorsINInnovestor Ventures

Innovestor is a Finnish investment manager offering opportunities in venture capital, commercial real estate, and energy storage assets.

CleantechDeep TechEnergyFintechImpact & Social GoodJyväskylä, FI

Co-investorsINInsta VenturesWAWave Ventures

Intera is a Finnish investment firm that practices responsible investing as an active owner, aiming to create value for its investors and society.

IPR.VC provides institutional investors with structured access to the global entertainment sector through short-duration alternative investments in professionally produced content with predictable cash flows and distribution networks.

FintechMedia & EntertainmentHelsinki, FI

Co-investorsEUEuropean Investment FundPEPeak

IQM builds full-stack superconducting quantum computers, from NISQ-era to fault-tolerant systems, including quantum processing units, on-premise machines, and a cloud platform.

Deep TechHardwareQuantum ComputingEspoo, FI

JGJan Goetz(Founder)inJuha Vartiainen(Founder)Kuan Yen Tan(Founder)Mikko Möttönen(Founder)

Co-investors5555 NorthBABayern KapitalCHChanger ClubFIFirst MomentumINInception FundKRKreos Capital+11 more

IXI develops adaptive eyewear with lenses that autofocus by tracking the wearer's eye movements, adjusting between near and far vision automatically.

Deep TechHardwareMedical Devices

Co-investorsPLPlural

Juuri Partners is a Finnish private equity firm that finances and develops established, profitable small and mid-sized companies in Finland through active minority investments, debt financing, and strategic support.

Fintech

Karma Ventures is a venture capital firm that invests in early-stage European deep-tech software startups at late seed and Series A, typically up to €5M per deal with follow-on investments in later rounds.

Deep Tech

MUMargus Uudam(Founder)in

Co-investors1C1CrowdANAnkur CapitalGVGV (Google Ventures)SOSoftBank GroupSUSusquehanna Growth EquityTITiger Global Management+2 more

Kelluu develops autonomous airships for high-precision aerial monitoring and environmental data collection, serving applications in mapping, infrastructure inspection, environmental monitoring, and defense.

Climate TechData & InfrastructureDefense TechHardwareRoboticsHelsinki, FI

Co-investorsKEKeen Venture Partners

Koherent develops a long-range radio positioning system based on radio interferometry principles, designed for precision localization in industrial applications including construction, mining, logistics, and machine automation.

Deep TechHardwareIoTLogistics & Supply Chain

KLKari Leppänen(Founder)in

Co-investorsLILifeline Ventures

Korona Invest is a Finnish private equity firm founded in 2006 that focuses on buyout and growth investments in small and medium-sized Finnish companies.

Lamor provides environmental solutions and services to help companies reduce their environmental impact, with a focus on cleanup and sustainability tailored to local needs.

Circular EconomyCleantechClimate Tech

Leo Capital is a venture capital firm founded by operators with experience building and scaling category-defining companies, investing across continents with a focus on India and global markets.

AI & Machine LearningEnterprise SoftwareFintechSingapore, SG

RGRajul Garg(Founder & Managing Partner)inSVShwetank Verma(Co-founder & Managing Partner)in

Co-investorsINInterplay Ventures Early Stage Management LlcJEJetty VenturesSMSmile GroupCACatalio Capital ManagementFLFlint CapitalYUYu Galaxy

Lifeline Ventures is a sector-agnostic early-stage venture capital firm that invests at the pre-seed and seed stages and partners with founders from the start of their journey.

Sector Agnostic

Co-investorsSHShoreline Venture ManagementWAWave Ventures

Loihde is a Finnish technology and security company that provides cybersecurity, physical security, cloud and network infrastructure, and data, digital, and AI services to organizations.

AI & Machine LearningCloud ComputingCybersecurityHelsinki, FI

EQT Life Sciences (formerly LSP) is one of Europe's largest life sciences investment firms that invests in innovative companies developing therapeutics, medical devices, diagnostics, and healthtech solutions.

BiotechDigital HealthHealthtechMedical Devices

Co-investorsKFKfW Capital

Lyfta is a workout tracker and strength training app for iOS and Android that lets lifters plan routines, log sets, track strength progress, and browse an exercise library.

ConsumerSports TechWellness & Fitness

Kolbjørn Lindberg(Founder)

Maki.vc is a venture capital firm that invests in early-stage deep tech and startups, with a focus on the Nordics and Europe.

Deep Tech

Co-investorsABAboa AdvestBEBeast VenturesPEPeakPRProdeko VenturesSPSpecialist VC

Mandatum Asset Management is an investment firm offering institutional and professional investors access to credit, alternatives, and equity strategies across multiple asset classes.

FintechImpact & Social GoodSector Agnostic

Finnish private equity firm making majority investments in mid-sized companies in Finland, active since 1988.

Meeat develops plant-based meat alternative food products, such as a meaty burger patty and a chicken-free "Kanaton Lastu" product, aimed at consumers seeking sustainable alternatives.

ConsumerFoodTech

Co-investorsEMEmerald Technology Ventures Ag

Mekitec builds AI-powered X-ray inspection systems that detect foreign materials such as metals, glass, ceramics, and hard plastics in packaged foods and reject incomplete, broken, or misfilled products.

Advanced ManufacturingFoodTechHardware

Co-investorsINInvesdor

MetGen develops industrial enzymes for bio-based chemical and material production from biomass and wood feedstocks.

AgTechBiotechCircular EconomyCleantechNew Materials

Co-investorsEMEmerald Technology Ventures AgINInnovestor Ventures

Mevea develops real-time simulation software and digital twin technology for product development and operator training across multiple industries including mining, ports, and marine equipment.

Advanced ManufacturingDeep TechEnterprise SoftwareHardwareSaaSLappeenranta, FI

Co-investorsINInnovestor Ventures

Midaxo offers M&A software that manages the full deal lifecycle, combining pipeline CRM, project management, due diligence (VDR), and post-merger integration tools in one platform.

Enterprise SoftwareFintechSaaS

Midinvest Management is a partner-owned private equity fund management firm specializing in ownership arrangements and growth financing for small and medium-sized enterprises in Finland.

FintechSector AgnosticJyväskylä, FI

JNJukka-Pekka Nikula(Toimitusjohtaja (CEO))inJDJarkko Danska(CEO)in

Monidor develops easy-to-use health technology solutions to support nurses and improve patient safety.

Digital HealthEnterprise SoftwareHealthtechMedical DevicesFinland, FI

MSMikko Savola(CEO)inAPAntti Puolitaival(Chief Medical Officer)in

BoardJKJukka Kettunen(Chairman of the board)

Co-investorsBUButterfly VenturesINInnovestor VenturesINInvesdorKOKorpun Siemen OyVOVoima VenturesBUButterfly

MVM is a healthcare-focused investment firm that provides growth equity to companies in medical technology, pharmaceuticals, diagnostics, digital health, life science tools, and contract research and manufacturing.

BiotechDigital HealthHealthtechLondon, GB

Naava provides indoor greenery for workplaces, including green walls, potted plants, moss walls, and custom planters, along with professional green design, installation, and maintenance offered as a monthly service.

HardwareIoTWellness & Fitness

Co-investorsBUButterfly VenturesGUGuida Invest OyKOKorpun Siemen Oy

NIF is a venture capital fund focused on defence and innovation, working with government stakeholders, limited partners, and startups.

AI & Machine LearningDeep TechDefense Tech

Co-investorsALAlpine Space VenturesBLBlossom Capital

Nordic Foodtech VC is an early-stage venture capital firm investing in deep tech companies working on the food system, from alternative proteins and precision fermentation to farming data and food-related materials.

AgTechDeep TechFoodTech

Nordia Management is a Finnish investment company that provides capital together with operational expertise to its partner companies, drawing on three decades of experience building the growth of domestic businesses.

Sector Agnostic

Norsepower develops wind-assisted propulsion systems for maritime vessels to reduce fuel consumption and emissions.

CleantechEnergyFinland, FI

HPHeikki Pöntynen(CEO)inJKJukka KuuskoskiinJarkko Väinämö(COO)in

Co-investorsBUButterfly VenturesCLClimate InvestmentLILifeline VenturesVNVNT ManagementBUButterfly

Northzone is a multi-stage venture capital firm founded in 1996, investing from seed to growth across Europe and the US.

Co-investorsFEFelix JahnPEPeakQUQuadrille CapitalRARabo Corporate VenturingBABattery Ventures

Nosto provides an AI-driven commerce experience platform that delivers personalized product recommendations and experiences to online shoppers.

AI & Machine LearningE-commerceMarketing TechHelsinki, FI

JLJim Lofgrenin

Co-investorsBABailador Technology InvestmentsCUCuriosity VCI5i5investOPOpenOcean

Nordic Science Investments is an early-stage venture capital fund that invests in science-based startups and university spinouts across the Nordic region, with a focus on deeptech, health tech, and life sciences.

AI & Machine LearningBiotechDeep TechEnergyHardwareHealthtechEstonia, EE

BoardMMMart Maasik(General Partner)in

Co-investorsNONordic Science Investments

Onego Bio produces Bioalbumen®, a fermentation-derived ovalbumin protein powder that replicates egg white functionality for large-scale food manufacturing without animal agriculture.

AgTechBiotechClimate TechFoodTechHelsinki, FI

MIMaija Itkonen(Founder)inCLChris Landowski(CTO & Co-Founder)inPSPaavo Salminen(CCO)inTFTom Ferguson(CFO)inChristopher Landowski(Founder)Maija Itkonen Christopher Landowski(Founder)

Co-investorsAGAgronomicsMAMaki.vc

ONEiO provides a fully managed integration service built on its Integration Ops model, connecting enterprise IT environments and multi-party systems.

Cloud ComputingEnterprise SoftwareSaaS

JKJanne Kärkkäinen(Founder)inJuha Berghäll(Founder)

Co-investorsFAFairpoint CapitalINInventureINInventure

OpenOcean is a pan-European early-stage venture capital firm investing in European-founded companies developing AI-native software, automation, and data-intensive technology to reshape knowledge work.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareHelsinki, FI

EAEkaterina Almasquein

Co-investorsISIsomer CapitalPEPeak

Optomed develops handheld, non-mydriatic fundus cameras with optional AI-assisted analysis for retinal imaging and screening.

AI & Machine LearningHealthtechMedical Devices

Co-investorsBOBosch Ventures

Oura Ring is a wearable smart ring that collects and analyzes 50+ personal health metrics to provide insights on sleep, fitness, and wellness for individual users.

HardwareHealthtechWellness & FitnessSan Francisco, US

Ashley Colley(Founder)Virpi Tuomivaara(Founder)inTHTom Hale(Chief Executive Officer)inKari Kivela(Founder)Markku Koskela(Founder)Petteri Lahtela(Founder)

Co-investors12125 VenturesA-A-Rod CorpABAble PartnersALAlumni VenturesB3B37 VenturesBABasecamp Fund+38 more

P2X Solutions develops synthetic methanol production facilities, converting renewable energy and captured carbon into sustainable fuel for industrial and energy applications in Finland.

Advanced ManufacturingCleantechEnergyJoensuu, FI

Co-investorsLILifeline Ventures

Swedish pre-seed and seed venture fund investing in climate tech companies across Europe and, selectively, the US.

Co-investorsAQAQVCVNVNV GlobalVOVostok New VenturesWAWave VenturesPRPrima Materia

Primex Pharmaceuticals owns and markets specialty anaesthetic pharmaceuticals for perioperative therapy on a global basis.

BiotechHealthtechMedical Devices

JMJany Mengelkamp(Board Member & Co-Founder)in

Co-investorsINInnovestor Ventures

Inventure is a generalist venture capital firm that invests primarily in startups across the Nordics and Baltics, backing companies in areas such as deep tech, consumer, healthtech, AI, and B2B SaaS.

Sector Agnostic

Co-investorsPEPeak

PROfounders Capital is a pan-European early-stage venture capital firm that has invested since 2009 in tech-enabled B2B and B2C startups, writing initial checks of €500k to €3m as lead or syndicate partner.

London, GB

SSSean Seton-Rogers(Founder)in