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Finnvera's portfolio companies received EUR 15 million from business angels


Business angel investments are rapidly increasing in Finland. Finnvera's venture capital portfolio companies received a total of EUR 15 million in business angel investments in 2014.

The investments made by individuals (business angels) in the portfolio companies of the Seed Fund Vera, which is administered by Finnvera's venture capital investments, increased for a fifth successive year.  In 2014, the fund made a total of EUR 14.3 million in initial and follow-on investments in 72 early-stage companies.  There were a total of 133 companies in the fund's portfolio at the end of last year.  About one third of the portfolio companies also received business angel investments totalling EUR 15 million.  For the first time, the amount of angel investments exceeded the investments made by the fund.

Business angels make investments totalling between EUR 40 and 50 million in Finland each year.

'In proportion to the annual volume of business angel investments, one can say that Finnvera plays an important role in the channelling of angel financing in early-stage companies,' says Leo Houtsonen, who is responsible for Finnvera's venture capital investments.

In euro terms, the business angel investments made in Finnvera's venture capital portfolio companies almost quadrupled between 2009 and 2014. The average size of an investment was about EUR 60,000 and investments were made by a total of 201 business angels.  A total of 253 investments were made during the year. Finnvera will make direct investments in innovative early-stage companies until the end of 2017.

Further information: Leo Houtsonen, Finnvera plc, tel.  +358 (0)29 460 2733, leo.houtsonen (at)


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029 460 2790 (weekdays 9:00 a.m. and 4:15 p.m.)

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