Finland’s venture scene rides a €1.5B funding wave into 2026
Finland is strengthening its position as one of Europe’s most active startup hubs, buoyed by public support, a deep technical talent base and a culture that encourages collaboration between founders, universities and industry. The country’s edge in digital infrastructure, R&D intensity and relatively transparent regulation continues to draw both local and international entrepreneurs—helping Finnish companies build for global markets from day one.
According to PitchBook, Finnish startups raised more than €1.5B in venture capital during 2025, driven by growth across quantum computing, space technology, healthtech and enterprise software. The momentum has also highlighted a key feature of Finland’s ecosystem: a well-developed early-stage pipeline, where pre-idea, pre-seed and seed founders can access not only capital, but also hands-on operational support and networks that de-risk the first steps of company building.
Below are 10 Finland-based VC and funding organisations to watch in 2026, spanning deeptech specialists, sector-focused funds and a major state-backed financier that plays an outsized role in turning research into companies.
10 Finnish VC and funding players to watch in 2026
Voima Ventures
Founded in 2019 by Inka Mero and Mikko Kumpulainen, Voima Ventures has become one of the Nordics’ best-known backers of scientific, breakthrough-driven startups. The firm focuses on deeptech areas including advanced materials, life sciences, synthetic biology, circular chemistry and climate technology.
In 2025, the firm closed a €100 million Fund III designed to support roughly 25–30 deeptech startups across the Nordic and Baltic regions. Typical cheque sizes range from about €200K to €3 million. Recent investments cited include ÄIO and Liquid Sun.
Lifeline Ventures
Founded in 2009 by Timo Ahopelto and Petteri Koponen, Lifeline Ventures is known for investing exceptionally early—sometimes before a company is incorporated. The firm recently closed its fifth fund at €150M, maintaining its strategy of backing founders at the very start of the journey.
Lifeline Ventures has a track record of early positions in breakout Finnish and Nordic companies including Wolt, Aiven, Oura, ICEYE and Supercell. It typically invests around €100K to €2 million per deal, with focus areas spanning healthtech, gaming, software, defence and industrial automation.
Business Finland
Business Finland, established in 2018 through the merger of Tekes and Finpro, occupies a unique role as a state-backed organisation providing grants, loans and co-investment to Finnish startups. Unlike traditional venture funds, it is structured to support national innovation goals and can help founders validate high-risk ideas without immediate commercial pressure.
Support often extends beyond money, including export and internationalisation programs, R&D incentives and partnerships that connect startups with established industrial players. Funding ranges cited include roughly €60K–€100K for young startups, and about €250K to €1.25M for companies running structured innovation programs. Startups such as NPHarvest have been among beneficiaries.
Redstone
Founded in 2014 by Samuli Sirén and Michael Brehm, Redstone takes a differentiated approach: rather than operating a single traditional fund, it partners with corporates, government bodies and institutional investors to build specialised vehicles for sectors such as fintech, climate, industrial tech and digital health.
This model can be especially attractive for founders operating in regulated or emerging markets where strategic partners and distribution channels matter early. The firm’s portfolio examples include FICUS, Noteless and BTRY, with investments ranging from about €200K to €5 million depending on sector.
Kvanted
Launched in 2023 by Maria Wasastjerna, Eerik Paasikivi and Axel Ahlström, Kvanted is an early-stage investor focused on connecting traditional industries with technology startups. Its investment scope spans hardware, software and services that improve industrial value chains, with emphasis on industrial automation, sustainability and supply chain resilience.
The firm closed a first fund of €70 million and has invested in nearly 20 companies, with initial cheques typically between €500K and €3 million. Portfolio examples include Samp and Euler.
Wave Ventures
Wave Ventures, founded in 2016, is among Europe’s earliest student-run venture capital firms and often invests at idea or prototype stage—making it a launchpad for first-time founders. The fund focuses on software, climate, biotech, consumer apps and digital infrastructure.
The firm recently closed its third fund at €7 million, tripling its previous fund size. It typically provides up to €100K in very early-stage funding.
Nostetta Ventures
Founded in 2020 by Noora Tuikka and Minna Vanninen, Nostetta Ventures invests in pre-seed and early-stage rounds for Nordic founders working on software, climate and emerging B2B technologies. The fund positions itself around practical innovation—products that can win early customers and scale into recurring revenue.
Typical investments range from about €30K to €150K. The firm has backed teams working on workplace automation, supply-chain optimisation and next-generation digital platforms.
NordicNinja VC
NordicNinja VC, founded in 2019 by Tomosaku Sohara, Shinichi Nikkuni, Marek Kiisa and Rainer Sternfeld, focuses on climate tech, mobility, robotics, digital society and industrial automation. The firm has launched a second fund as it continues backing globally scalable deeptech.
A defining feature is its cross-continental network linking Nordic startups with expertise and customers in Japan and broader Asian markets. Portfolio companies cited include Bolt, Einride, H2 Green Steel and Kognic. The fund typically invests €2 million to €8 million across Series A and B.
Vendep Capital
Founded in 2013 by Sakari Pihlava, Jupe Arala and Hannu Kytölä, Vendep Capital is a Finnish specialist in B2B SaaS and AI-driven enterprise software. The firm recently raised an €80M fund aimed at supporting Europe’s next generation of SaaS founders.
Its portfolio includes companies such as Leadfeeder, Vainu, Happeo and SaaS.group, alongside newer AI-era SaaS startups emerging from the Nordics. Typical investments range from €100K to €3 million.
Maki.vc
Maki.vc is referenced among the firms to watch, reflecting its visibility in Finland’s early-stage landscape. Details about the firm’s founders, fund size and investment range were not included in the provided material.
Why these investors matter for Finland’s next wave
Together, these organisations illustrate how Finland’s ecosystem supports startups from the first sketch of an idea through global scaling: deeptech funds prepared for longer R&D cycles, sector-focused investors with operational know-how, and Business Finland providing non-dilutive and co-investment support. As capital continues to follow quantum, space, healthtech and enterprise software, the ability to finance and mentor companies at the earliest stage may determine which Finnish teams become Europe’s next category leaders.
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