September 8, 2020
DAILY BRIEF: Hot new book, startup funding, big investments and university rankings
Finnish writer Petra Rautiainen's debut novel garnered international interest even before its publication.
All the daily Finnish business news that works: Finnish literature, Superhero Capital, Bayer Finland, Stora Enso, Evli and Finnish universities make headlines.
Superhero Capital launches a new fund, Bayer and Stora Enso make significant investments, the rights to Finnish debut novel Land of Snow and Ashes are sold internationally, Evli starts a partnership in the Netherlands, and Finnish universities make the World University Rankings.
Finnish venture capital firm Superhero Capital has announced the first close of its second fund at 30 million euros. The fund will set out to make seed investments in in 25 startups in Finland and the Baltics by 2025. Superhero Capital will target startups that create competitive advantages by refining data into insight. The fund is open for new investors until the end of 2020.
German multinational pharmaceuticals concern Bayer is investing 35 million euros in its production plant in Turku, Finland, to secure its supply of contraceptive products. Bayer develops and manufactures long-acting contraceptives based on polymer-based technology, its third best-selling prescription drug product worldwide, in the Finnish city. The company’s hormonal coils have been the largest pharmaceutical export from Finland for over 10 years and are shipped to some 130 countries. The new facilities are expected to be completed by 2023.
Finnish writer Petra Rautiainen’s debut novel, Land of Snow and Ashes (Tuhkaan piirretty maa), has aroused international interest, with its rights for Dutch, German, Italian and English sold before publication. The book is set in Lapland during and after the Second World War, where the arctic beauty contrasts with the brutal actions conducted against the indigenous Sámi people at a secret Nazi prison camp. British-based Pushkin Press bought the UK and Commonwealth rights for the book and will publish it as one of its lead titles in 2022.
Stora Enso has announced it will invest around 79 million euros in a new production line for cross-laminated timber (CLT) at its sawmill in Ždírec, the Czech Republic. The investment will strengthen Stora Enso’s position globally as a provider of high-quality engineered wooden elements and market leader in CLT. The production is scheduled to commence during the third quarter of 2022 and, after ramp-up, bring the production capacity to approximately 120 000 cubic metres.
Evli Fund Management Company has started a collaboration with The Cardinal Partners Global for selling Evli funds to institutional investors in the Netherlands. Evli has focused strongly on environmental, social and governance factors over the past decade, something that is important in the Dutch market. Its spearhead product, Evli Green Corporate Bond Fund, is something of a rarity as very few European green bonds are dedicated solely to the corporate bond segment.
The University of Helsinki clinched a place in the top 100 with an overall score of 62.1 to lead a contingent of nine Finnish universities in the Times Higher Education’s World University Rankings 2021. Read more by clicking the headline.
University of Helsinki
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