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Top 20 Life Science VC Funds in Finland

Last updated: Apr 2024 A list of 20 VC funds that invest in Life science startups based in Finland. We rank investors based on the number of investments they made in Life science companies from Finland. We update this investor list every month.

Top 20 Life Science VC Funds in Finland

Investor	Life Science Finland investments
Voima Ventures	4
Tesi	2
Icebreaker.vc	2
European Investment Bank	2
Nordic Foodtech VC	2
Ascend Capital Partners	1
Athensmed	1
Wave Ventures	1
Valio	1
Aqua Spark	1
Advent Life Sciences	1
Novartis Venture Fund	1
Takoa Invest	1
Business Finland	1
Springvest	1
VTT Ventures	1
Lifeline Ventures	1
K5 Global	1
Tiger Global Management	1
Thames Trust	1

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Investor list

Voima Ventures’ mission is to solve major global problems by combining science, entrepreneurship, and value adding capital. They shed light on the ideas and technology which require time and courage to build. Industry domains include bio and new materials, medical technologies and life sciences, imaging and optics, IoT and electronics, robotics,software & ICT and AI. In addition, Voima Ventures has invested in more than 30 deep tech startups, including companies like Solar Foods, Infinited Fiber Company, and Dispelix. Cornerstone investors are VTT Technical Research Centre of Finland and European Investment Fund (EIF), backed by Finnish private and institutional investors.

Investment focus

Biotechnology, Software, Health Care
Seed, Pre-Seed, Funding Round
Finland, Sweden, Norway

Portfolio highlights

n-Ink — n-ink provides n-type ink formulations compatible with solution-deposition processes for Printed Electronics, Internet of Things and Bioelectronics.
Kuva Space — Kuva Space improves life on Earth through daily, space-borne hyperspectral imaging and AI. We offer Earth observation solutions for more sustainable business.
The Human Touch Robotics — Automating online grocery and food related goods picking with single-item picking robots, through adaptive gripping and AI vision system.

Finnish Industry Investment Ltd is a government-owned investment company. It invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses.Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with privateco-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings.The investments of Finnish Industry Investment amount to over MEUR 570

Investment focus

Software, Manufacturing, Health Care
Funding Round, Series A, Series B
Finland, United States, Argentina

Portfolio highlights

Measurlabs — We provide testing services for any material, product, or chemical, helping product developers and quality managers get the information they need about their products.
Algorithmiq — Algorithmiq utilizes its expertise in quantum information, complex systems, and computational physics to develop algorithms to develop new and effective drugs, solve problems in life sciences, and discover new materials.
Carbo Culture — We are a project developer with proprietary climate technology. We are building a rapidly scalable biochar carbon removal solution.

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start,build or join strong tech companies.With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

Investment focus

Software, Information Technology, Artificial Intelligence
Pre-Seed, Seed, Series A
Finland, Estonia, Sweden

Portfolio highlights

Zymego — Zymego develops solutions that relieve healthcare workers of administrative work while improving patient access to healthcare.
Fixably — Fixably is the repair management solution to seamlessly connect all users, from the end customer to the technician, and all repair systems within your service business.
Tab — Tab is the API-first company that enables smart receipts to arrive straight to your mobile bank app, all linked to your payment card. We help merchants deliver a seamless checkout experience and to unlock new avenues for post-sale engagement, banks to offer better user experiences & reducing customer support costs and consumers can wave goodbyeto lost receipts, tedious expense reporting processes and a more engaging banking experience.

European Investment Bank (EIB) provides lending, borrowing, and treasury services primarily in the European Union.The company offers project loans for the public and private sectors; loans to banks and other intermediaries; structured finance products; guarantees and securitization instruments for senior and subordinated debts; project bonds;equity and fund investment products such as infrastructure equity and debt funds, and environmental funds; and venture capital funds and security packages for funds.The company also offers microfinance; risk sharing finance for research, development, and innovation projects; finance and technical expertise for sustainable energy projects; infrastructure project advisory services; support for urban development projects; guarantees for transport infrastructure; and funding for public-private partnerships and small- and medium-sized enterprises.EIB serves the transportation, global loans, energy, industry, health, education, water, sewerage, infrastructure, services, telecommunications, agriculture, and fisheries sectors.European Investment Bank was founded in 1958 and is based in Luxembourg.

Investment focus

Biotechnology, Health Care, Software
Debt Financing, Post-IPO Debt, Funding Round
France, Germany, The Netherlands

Portfolio highlights

Eldrive — The largest charging point operator in Eastern Europe | Our network is expanding rapidly yet our focus is fixed on renewables, for a greener future. We provide AC & DC charging across Bulgaria, Romania and Lithuania.
ABN AMRO Bank — Als bank leggen wij de focus op inclusiviteit, duurzaamheid, sociaal ondernemen, innovatie, dagelijkse bankzaken en meer.
Enel Green Power — Enel Green Power is the company that deals with renewable energy from every perspective: from direct sales through PPA, to commitment at the forefront with its plants worldwide.

We are investing in #FutureFood. Nordic FoodTech VC is the first fund in the Nordics investing explicitly in the future of food

Investment focus

Biotechnology, Seafood, Life Science
Seed, Series A, Funding Round
Finland, Denmark, Sweden

Portfolio highlights

ÄIO — Innovative food technologies to replace palm oil, coconut oil and animal fats with sustainable and healthier alternatives.
Enifer — Enifer Bio is an expert at squeezing every last drop of value from biorefining operations. The solution is built on decades of Finnish expertise to allow the production of valuable protein-rich feed from streams previously considered worthless. The company has developed a new, sustainable production process for high-quality fish feed raw material.The company's method enables the efficient production of a single cell protein from fish by-products as a raw material for fish feed. The protein can replace soy, which is commonly used in fish feed and whose cultivation poses ecological challenges, such as deforestation in South America.
Kuva Space — Kuva Space improves life on Earth through daily, space-borne hyperspectral imaging and AI. We offer Earth observation solutions for more sustainable business.

Founded by two Wall Street professionals in 2002 with the goal of making companies successful by helping them raise capital and improve their management standards. This was done by taking an active role in running these companies (at the Board level and operationally) and helping to secure strategic partnerships.Over USD 100 million in assetsgenerated from successful investments in China, and more recently in Europe. All invested funds come from our partners; no 3rd party money is managed. Since the partners are investing their own capital, they are dedicated to making their investments successful.Led by Monita Mo, one of the founders and a serial entrepreneur. Our partners have decades of experience across a wide range of industries and geographical regions. All investment partners have done business in Asia and bring an extensive network of contacts for our investments. Additionally, they have started, managed, and sold businesses and understand the challenges involved.See the need to share more developed technology to other markets, especially in China, where growth opportunities may be greater. That is why we are currently focusing on companies in Europe and other developed markets that have unique technologies that can be commercialized in their home markets, Asia, and the US.

Investment focus

Health Care, Medical Device, Automotive
Series A, Seed, Funding Round
Finland, United States, Canada

Portfolio highlights

Battlesnake — Controlled by a web server you build, and the code you write, Battlesnakes move to find food, avoid others, and stay alive.
Inflection.io — Marketing technology for product-led companies
Nanoflex Robotics — Nanoflex Robotics develops a soft robotic system that precisely inserts specially made guidewires and catheters deep into the brain. The company provides patented magnetic navigation technology but also the necessary surgical devices. Nanoflex Robotics was established in May, 2021 in Zurich, Switzerland.

Athensmed Oy

Investment focus

Health Care, Medical, mHealth
Seed, Series A, Funding Round
Finland

Portfolio highlights

Kaiku Health — Kaiku Health is a digital health company with a mission to improve quality of life through health data science. We have built an intelligent digital platform for monitoring patient-reported outcomes in several therapy areas, such as cancer care, fertility treatments and preventive health care. Its unique algorithms enable early interventions andpersonalized patient support. Currently over 30 European hospitals and clinics are using our platform to better monitor their patients, reducing manual work and allowing prioritization of clinical actions. This along with the capture and analysis of real-world data paves way for more personalized and effective care of each patient. The company, founded in 2012 by five software developers deeply passionate about health care technology, has now grown to team of 20+ dedicated employees. The company is backed by Reaktor Ventures, along with other venture capital funds and private investors, and is supported by Tekes – the Finnish Funding Agency for Innovation.
VideoVisit — VideoVisit is a Nordic health technology company, developing digital solutions for home care and healthcare sectors. They make healthcare available to everyone, anywhere and anytime, and strive to provide solutions that help people live independently at home for as long as possible. They collaborate with healthcare specialists to ensure that oursolutions are available to everyone.
Finnadvance — Finnadvance is an Organ-On-Chip company developing high throughput biological barriers on chips to mimic human biology such as vascular, lung and the Blood-Brain-Barriers for small molecule, micro-nano-formulation permeability and toxicity testing with in-vivo like dynamic cell cultures.

Founded in 2016, Wave Ventures is the largest student-run VC in Europe, backed by Nordic unicorn founders, investing in Gen Z entrepreneurs at the earliest stage. We operate both from Finland and Sweden with a team of five people from the top universities in the region.

Investment focus

Software, Mobile Apps, Internet
Seed, Pre-Seed, Funding Round
Finland, Sweden, Germany

Portfolio highlights

Solu — Solu.co is a Fastest Growing hub for Technology, How-to, Gadgets, Entertainment, Lifestyle, Digital Marketing And Business Ideas.
Solu — Discover the next generation toolkit for analyzing, storing and sharing bacterial genomes.
Taika Tech — Taika Tech builds a novel interface for controlling the surrounding technology by making sense of your hand movement and location with a smart ring

We are Valio Group: the most innovative dairy and food company in the world.

Investment focus

Life Science, Biotechnology
Series A
Finland

Portfolio highlights

Enifer — Enifer Bio is an expert at squeezing every last drop of value from biorefining operations. The solution is built on decades of Finnish expertise to allow the production of valuable protein-rich feed from streams previously considered worthless. The company has developed a new, sustainable production process for high-quality fish feed raw material.The company's method enables the efficient production of a single cell protein from fish by-products as a raw material for fish feed. The protein can replace soy, which is commonly used in fish feed and whose cultivation poses ecological challenges, such as deforestation in South America.

Aqua-Spark is an investment fund with a focus on sustainable aquaculture businesses around the world. The small-to-medium enterprises (SMEs) they invest in are working toward the production of safe, accessible aquatic life, such as fish, shellfish and plants, in ways that do not harm their oceans. Their investors value the fact that each investmentaims to create triple impact—specifically, each investment is chosen for its potential to generate significant financial returns while also activating positive environmental and social outcomes.Aqua-Spark believes that committing to a long-term vision is the way to realize effective and lasting impact results. When it comes to investments, they do not seek quick exits; instead, they look for entrepreneurs who strive to build and scale toward the future, who see their business as major economic opportunities that can also help solve looming environmental and food security challenges over the long-term. As an essential of each investee, Aqua-Spark seeks sustainability.

Investment focus

Biotechnology, Seafood, Aquaculture
Funding Round, Series A, Seed
United States, Norway, Israel

Portfolio highlights

Tepbac — Less work for farmer, more fish for people.
Kuehnle Agrosystems — Kuehnle AgroSystems curates a unique set of algae originating from pristine waters and ecosystems of Hawaii, as well as tropical botanical accessions representing plants prized by Polynesian voyagers.
Wanda Fish Technologies — Wanda Fish is an innovative FoodTech company with a platform that produces a wide variety of delicious fish fillets using sustainable cell-cultivation practices.

Advent Life Sciences is a venture team investing in life sciences businesses. The team consists of 11 professionals with extensive scientific, medical and operational experience, and a long-standing track record of entrepreneurial and investment success across the UK, Europe and the US. The Firm invests in a range of sectors within life sciences,principally in new drug discovery, enabling technologies, and med tech. Realizations in the last three years include Algeta, Avila, CN Creative, EUSA, Micromet. Current investments include Acutus, Biocartis, Cellnovo, f2G, NeRRe,

Investment focus

Biotechnology, Health Care, Medical
Series A, Funding Round, Series B
United States, United Kingdom, France

Portfolio highlights

Argá Medtech — Developing the next generation of Pulsed Field Ablation and Irreversible Electroporation Venture-capital backed company
PIC Therapeutics — PIC Therapeutics is a biotechnology company focused on fundamentally changing how we treat cancer by developing a new generation of therapeutics based on the modulation of RNA translation.
Curve Therapeutics — Curve has developed an innovative screening platform that is transforming the discovery of first-in-class therapeutics. The platform allows functional screening of diverse, genetically encoded Microcycle™ libraries against a broad range of disease-associated targets that are present in their native conformation inside a mammalian cell. Curve isdeploying this platform to build a pipeline of novel cancer drugs.

Learn about the approach the Novartis Venture Fund takes to investing in innovative life science companies developing biotechnology and biopharmaceutical therapeutics that address unmet patient needs.

Investment focus

Biotechnology, Health Care, Therapeutics
Series B, Series A, Series C
United States, Switzerland, United Kingdom

Portfolio highlights

Hyku — Hyku Biosciences is developing the next generation of covalent medicines by targeting histidine, tyrosine and lysine binding pockets in disease-causing proteins.
Fore Biotherapeutics — We are a precision oncology company pioneering the development of cancer therapies guided by our proprietary functional genomics.
Hepalink — Hepalink is a manufactures ultra-pure pipeline control systems based on semiconductors and pan-semiconductor liquid circuits.

Takoa Invest is a Finnish family-owned investment company that owns and develops companies and properties with growth potential in Finland and abroad. Takoa Invest is a Finnish family-owned investment company. It owns and develops companies and properties with growth potential in Finland and abroad.

Investment focus

Biotechnology, Mobile, Retail
Seed, Series B, Series C
Finland, Israel

Portfolio highlights

Theranica — Theranica is a medical device company that has combined neuromodulation therapy with modern wireless technology to develop proprietary wearable solutions that address various medical conditions and disease states. The noninvasive and therapeutic 'smart' patches are controlled by a smartphone app to allow for personalized, portable, andaffordable care. The patch consists of a proprietary 'smart' chip that delivers electrical pulses to neuro-modulate the sensory nerves under the skin. The first application of the technology is for treatment of migraine headaches.
Finnadvance — Finnadvance is an Organ-On-Chip company developing high throughput biological barriers on chips to mimic human biology such as vascular, lung and the Blood-Brain-Barriers for small molecule, micro-nano-formulation permeability and toxicity testing with in-vivo like dynamic cell cultures.
IndoorAtlas — Discover the power of indoor positioning technology with IndoorAtlas. Build innovative indoor location-based solutions using our cross-platform SDK. Explore case studies and start developing today.

Business Finland finances business R&D projects and public research projects at universities, research institutes and universities of applied sciences. Read more about R&D and business funding.

Investment focus

Software, SaaS, Information Technology
Seed, Grant, Funding Round
Finland, United States, United Kingdom

Portfolio highlights

Teamspective — Teamspective's SaaS solution helps companies create culture of performance and wellbeing in their organization through - Actionable and real-time visibility to employee wellbeing and effectiveness of teams' collaboration - Replacing heavy 360 feedbacks with timely collection of high quality feedback that activates personal development -Modernizing performance evaluations with a process that takes only minutes per employee and eliminates rater bias - Understanding organization's dynamics through ONA surveys that are 10x faster and cheaper than consulting-driven versionsTeamspective's customers have 2x higher amount of employees satisfied with the feedback they receive.
Supersight — 100% privacy preserving mobile app for people counting, revolutionising real world business process automation. A Finnish high-tech product is most efficient method on the market for counting the number of people in a space with our AI technology, ensuring complete privacy and a productive environment for all. Customers in Finland and France.
Linio Biotech Ltd — Science by nature, Inspired by biology, driven by curiosity. We redefine skin regeneration.

The Citizenship Fund started out when the founders of the company discovered in their previous positions that a promising Finnish growth company will spend a great deal of time and energy in arranging financing. A good business idea and a team with excellent team could take months in financial negotiations and the outcome could be a return to thestart-up. At the same time, investors often wanted new types of higher potential investments alongside traditional alternatives.These two challenges were possible by removing the promising growth companies as investors, even for non-traditional venture capital investors. Citizenship wanted to create a service in which the company would be able to capitalize on business quickly and flexibly, but the decision-making business would be left to the company itself. From today's point of view, Springvest's goal is that an increasing number of Finnish investors can get involved in the story of Finnish growth companies and potential success.

Investment focus

Biotechnology, Health Care, Life Science
Series A, Series B, Funding Round
Finland

Portfolio highlights

Convion — Convion is a fuel cell system developer committed to commercializing solid oxide fuel cell systems in range of 50–300kW for distributed power generation. The company's products are designed for premium energy efficiency, reliability, and operational flexibility. Convion will provide its customers with sustainable power generation solutions forpower security, energy independence, and premium efficiency.Convion was founded 2012 and is based in Finland.
Mobidiag — Mobidiag is a commercial stage, fast-growing Finnish-French biotechnology company that develops and markets innovative molecular diagnostic solutions for gastrointestinal infections, antimicrobial resistance management, healthcare associated infections (HAIs), respiratory infections and sepsis. Based on well-established qPCR and microarraytechnologies, Mobidiag offers a broad range of tests and automated platforms. These include a comprehensive range of fast, reliable and cost-effective molecular diagnostic solutions for the detection of infectious diseases adapted to laboratories of all sizes. They allow detection of most clinically relevant bacteria, parasites, viruses and markers for antibiotic resistance.
Solar Foods — The Finnish company Solar Foods Oy produces an entirely new kind of nutrient-rich protein using only air and electricity as the main resources. The goal of the company is to start commercial production of the environmentally revolutionary protein in 2020.Solar Foods’ concept redefines the basics of food production, as it is not dependent onagriculture, the weather, or the climate. The price of the protein product is also competitive compared to sources such as soy protein.

VTT is a powerhouse of technology development and scientific research. Many of the most significant Finnish technology start-ups were brought to life at VTT. Do you want to invest in ongoing ventures?

Investment focus

Manufacturing, Biotechnology, 3D Technology
Seed, Funding Round, Series A
Finland

Portfolio highlights

Dispelix — See-through, full color waveguide combiners for a wide range of XR applications. From near-eye to head-up.
Quanturi Oy — Quanturi's robust wireless temperature monitoring systems are specifically designed for monitoring hay, compost, grain and many other fermentable materials during storage. Our systems decrease fire risks and ensure quality certification.
Solar Foods — The Finnish company Solar Foods Oy produces an entirely new kind of nutrient-rich protein using only air and electricity as the main resources. The goal of the company is to start commercial production of the environmentally revolutionary protein in 2020.Solar Foods’ concept redefines the basics of food production, as it is not dependent onagriculture, the weather, or the climate. The price of the protein product is also competitive compared to sources such as soy protein.

Lifeline Ventures Oy is a venture capital firm specializing in startups, growth capital, and early stage investments. The firm seeks to invest in healthcare, games, web based and general high technology sectors. It seeks to invest in Finland with a few investments made outside Finland as well. The firm targets investing between €0.5 million ($0.66million) and €1 million ($1.32 million). It seeks make inception to Series A investments. Lifeline Ventures Oy was founded in November 2009 and is based in Helsinki, Finland.

Investment focus

Software, Health Care, E-Commerce
Seed, Series A, Funding Round
Finland, United States, United Kingdom

Portfolio highlights

Mjuk — Marketplace for pre-owned, unique design furniture
Risk Ledger — Risk Ledger ensures your supply chain security by providing tools to run and respond to cyber security-led, third-party risk management programmes at scale.
Solar Foods — The Finnish company Solar Foods Oy produces an entirely new kind of nutrient-rich protein using only air and electricity as the main resources. The goal of the company is to start commercial production of the environmentally revolutionary protein in 2020.Solar Foods’ concept redefines the basics of food production, as it is not dependent onagriculture, the weather, or the climate. The price of the protein product is also competitive compared to sources such as soy protein.

K5 Global is a new media and financial services advisory and consulting firm. The company works with corporations, government entities, and start-ups, and is involved in a range of industries, including sports, technology, politics, and entertainment. K5 functions as a liaison for high-level startups and deal flow, connects influencers andcelebrities to entrepreneurs and brands, and incubates global business opportunities with A-list talent.

Investment focus

Software, SaaS, Information Technology
Series A, Seed, Series B
United States, Brazil, Israel

Portfolio highlights

Quindar — Satellite Mission Management for startups. Operate faster than your competition.
Instabase — Instabase combines the latest AI breakthroughs with industry expertise to create real business value for your business.
Few and Far — Few and Far is the next-generation platform for experiences in Web3, including NFTs, DeFi, gaming, and more. They help NFT projects with launchpad services, minting tools, outbound marketing, and more. They offer creators the liquidity, ability to earn, and listings alongside the top collections on NEAR.

Tiger Global Management is an investment firm that deploys capital globally.Tiger Global seeks to earn superior risk-adjusted returns for its investors over the long term. The firm’s fundamentally oriented investments focus primarily on the global Internet, technology, telecom, media consumer, and industrial sectors. The private equity strategyhas a ten-year investment horizon and targets growth-oriented private companies. The public equity efforts emphasize deep due diligence on individual companies and long-term secular themes.

Investment focus

Software, FinTech, Financial Services
Series B, Series A, Series C
United States, India, China

Portfolio highlights

Daki — Mobile delivery Daki is a subsidiary of JOKR.
Eliyan — Ultimate Chiplet Systems at a fraction of total cost of ownership. Without the downsides of advanced packaging, you achieve higher number of cores, compute performance, test coverage, and yield.
Xihuang Technology — Xihuang Technology is a comprehensive internet technology service company that integrates software research and development, planning, advertising, innovative marketing, and training services to create individuals, businesses, and agents.

Thames Trust

Investment focus

SaaS, FinTech, Finance
Seed, Series A, Series B
United Kingdom, Finland

Portfolio highlights

STEM — Kano provides a system of kits and coding platform that enables users to develop apps, games, and music. It teaches kids and adults about computers and coding by way of a variety of do-it-yourself hardware building kits. Also, its computing platform enables someone to build real devices, learn how they work, code them step by step, and share theircreations with the world.The company was founded in 2013 and is headquartered in London, England.
Algorithmiq — Algorithmiq utilizes its expertise in quantum information, complex systems, and computational physics to develop algorithms to develop new and effective drugs, solve problems in life sciences, and discover new materials.
ABAKA Holdings — ABAKA is world's first digital saving and retirement enterprise SaaS platform, powered by Artificial Intelligence. Our innovative technologies enable financial institutions to power digital saving and retirement solutions and deliver scalable and affordable advice on pensions, savings and investments to their retail customers. ABAKA’s libraryof modular applications helps our enterprise clients to power conversational AI, personalised and behavioural nudges, big data insights, financial dashboards and outstanding customer experiences.Today over 9 million people have access to the ABAKA technologies through our clients, and our technologies are licensed by Tier one international banks, pension providers and asset managers across multiple countries.ABAKA’s enterprise solutions enable financial institutions to power: • Conversational AI: on pensions, savings and investments, for both fully digital and hybrid advice. The proprietary NLP models take vast quantities of user behavioural and financial data to intelligently manage a human like conversation. • Intelligent Behavioural Nudges: machine learning models to identify persona segmentation, power personalised insights and nudges to increase engagement and up-sell opportunities, across digital channels. • Digital financial dashboards: data aggregation technology powering Open Banking, Pension Tracing and Pension Dashboards. • Financial Planning Engine: retirement planning, cash flow modelling, suitability assessment, Monte-Carlo simulations for outcome & scenario driven advice

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