June 2, 2015

Finnish companies set new venture capital record

Finnish startup Shark Punch raised over a million euros and wants to disrupt the game industry by creating the “Netflix for games”.
Finnish startup Shark Punch raised over a million euros and wants to disrupt the game industry by creating the “Netflix for games”.
Shark Punch

According to statistics published by the Finnish Venture Capital Association (FVCA), a record amount of venture capital was invested in Finnish companies, altogether 466 million euros in the first quarter of 2015.

“In 2014 numerous amount of Finnish startups received investments and in proportion to the GDP, were the second highest in Europe, right after Sweden. The investments to startups have sustained a good level during the past two years but now there’s a respite. In the second quarter there have already been a couple of bigger investment rounds,” says Marika af Enehjelm, CEO of the FVCA.

Despite the downturn of investments towards the startups in 2015, the Finnish growth companies proved attractive to foreign investors: altogether 310 million euros of the venture capital came from outside Finland.

The statistics only include venture capital investments. Investments made by private investors, business angels and company executives are not included.

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