Top 10 Angel Investors in Finland

Pro Business Plans
6 min readJan 4, 2023

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Finland is a country located in Northern Europe, bordered by Sweden, Norway, and Russia. It is a Nordic country and is known for its natural beauty and stunning landscapes.

Finland is a land of lakes and forests, with almost 200,000 lakes, and nearly 75% of its total land area covered in forests. The country is home to over 5 million people, and the population is growing. The official language is Finnish, but Swedish is also spoken by about 5% of the population.

Top Angel Investors in Finland

1. Icebreaker.vc

2. Inventure

3. Maki.vc

4. Vision+

5. Blue Arrow

6. Reaktor Ventures

7. Finnish Industry Investment

8. LUMO Labs

9. Open Ocean

10. Superhero Capital

Icebreaker.vc

Icebreaker.vc is a venture capital firm based in Finland, founded in 2011. Their mission is to help ambitious entrepreneurs build world-class companies, with a focus on digital business models. So far, they have invested in over 70 companies, spanning a variety of industries such as healthtech, fintech, EdTech, and digital media. Their investment check size is typically between 250K to 1M euros, and they are open to further investments up to 5M euros. Notable investments include Kiosked, and Small Improvements. Icebreaker.vc is passionate about accelerating the growth of innovative startups, and hopes to make a global impact through their investments.

Inventure

Inventure is a venture capital firm based in Finland. Founded in 2012, they have since invested in over 80 companies. Their mission is to help entrepreneurs build successful, world-leading companies. They focus on early-stage investments in technology and consumer service companies, with an average check size of around $1million. Notable investments include Varjo, a virtual reality and augmented reality technology company; Wolt, a mobile food delivery service; and Fleep, a team collaboration platform. Inventure is dedicated to helping startups succeed and propelling Finland’s tech industry to even greater heights.

Maki.vc

Maki.vc is an early-stage venture capital firm based in Helsinki, Finland. Founded in 2014, Maki.vc has invested in over 40 companies across a variety of industries, ranging from consumer goods to enterprise software. Their mission is to support the next generation of founders and help them build innovative, global companies. Maki.vc provides seed capital, as well as mentorship, to founders in Finland and the Nordics. Their average check size ranges from €200,000 — €1,000,000.

Some notable investments made by Maki.vc include: Varjo, a virtual reality headset company; Gofore, an IT consulting company; and Nitor, a software engineering company. Maki.vc is committed to being a long-term partner for its portfolio companies, providing them with the resources they need to realize their ambitious visions.

Vision+

Vision+ is a venture capital firm based in Finland that invests in early-stage startups. Founded in 2017, the firm has invested in over 30 companies within the technology, healthcare, and gaming industries. Vision+ has an average check size of €1M, but can invest up to €10M per deal. Notable investments include Varjo, a virtual reality headset manufacturer; Digitalist, a technology consulting firm; and Wolt, a food delivery service. Their mission is to take calculated risks and to make investments that will create long-term value.

Blue Arrow

Blue Arrow is a venture capital firm based in Finland that invests in early-stage startups and established companies in the tech sector. Founded in 2018, the firm has made investments in more than 20 companies, ranging from seed to late-stage investments. Their target industries include software, digital health, artificial intelligence, and renewable energy. They typically invest between €500k and €5M in a single check, although they have made several notable investments of up to €25M. Some of their notable investments include Wolt, Varjo, and Sledge Robotics. Through their investments, Blue Arrow aims to help build and grow companies that have the potential to become global market leaders.

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Reaktor Ventures

Reaktor Ventures is a venture capital firm based in Finland, founded in 2015. Their mission is to help founders and teams build global technology companies. They have invested in more than 50 startups to date, spanning a wide range of industries from healthcare to fin-tech. Their average check size is between 500,000 and 2 million euros.

Notable investments include Doctalys, a healthcare platform, Solita, a digital transformation consultancy, and Varjo, a virtual and augmented reality developer. Other investments include AI-driven companies like Varjo, health-tech startups like Doctalys, and e-commerce startups like Weecos.

Reaktor Ventures is dedicated to helping entrepreneurs build global companies with the potential to change the world. They are committed to fostering innovation and providing the necessary resources to help startups succeed.

Finnish Industry Investment

Finnish Industry Investment is a state-owned venture capital company in Finland that was founded in 1998. Their mission is to provide venture capital and other financial services to small and medium-sized companies in Finland to promote economic growth and job creation. They have invested into over 500 companies in the past 20 years, with a focus on startups and growth companies in the ICT, cleantech, and life sciences sectors. The average check size is around 4 million euros, and notable investments include Maria 01, an integrated startup campus, and Varjo Technologies, a manufacturer of virtual reality headsets.

LUMO Labs

LUMO Labs is a Finland-based venture capital firm founded in 2016. Its mission is to fuel the growth of innovative startups and drive positive impact by investing in entrepreneurs and companies that have the potential to disrupt industries. To date, LUMO Labs has invested in over 30 companies in diverse industries, ranging from healthtech and fintech to energy and space technologies. The average check size is around €1M, and they have made some notable investments in companies such as Buildit Hardware Accelerator, MyDataGlobal, and Space Nation. LUMO Labs is committed to creating a brighter future by investing in the growth of startups and helping them reach their full potential.

Open Ocean

Open Ocean is a venture capital firm based in Finland, founded in 2006. Their mission is to invest in and help entrepreneurs build world-leading technology companies. Open Ocean has invested in over 60 companies and is focused on software, services, digital media, and Internet-enabled companies. They typically invest between €1 million and €10 million per company, but the average check size is around €5 million. Notable investments made by Open Ocean include Klarna, Supercell, PlayRaven, and Wolt. They have also invested in a number of other well-known companies, including Varjo, Smartly.io, and Fingersoft.

Superhero Capital

Superhero Capital is a venture capital firm based in Finland, founded in 2018. Their mission is to invest in early stage tech companies and help them grow, with a focus on the Nordic market. To date, Superhero Capital has invested in over 25 companies, primarily in the fields of Artificial Intelligence, Machine Learning, and Financial Technology. The average check size is usually around €500K, with some larger investments reaching up to €2M. Notable investments include FinRobotics, a robotics startup developing automated solutions for the banking sector, and Moomin Characters, a digital media company that produces content based on the beloved Moomin characters. Superhero Capital is dedicated to helping innovative companies succeed and create a positive impact on society.

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