# Finnish Climate Fund

> Finnish Climate Fund is a VC fund backing Energy and Renewable Energy. See 21 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Helsinki, Finland
- Total investments: 21
- Last investment: May 2025
- Lead investor: 43%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/finnishclimatefund/about/
- X (Twitter): https://twitter.com/ilmastorahasto
- Website: https://www.ilmastorahasto.fi/en/
- Facebook: https://www.facebook.com/Ilmastorahasto/

Finnish Climate Fund is a special-purpose company owned by the state, whose activities focus on combating climate change, accelerating the low-carbon industry, and promoting digitalization. The Climate Fund’s primary investment targets are industrial scale-ups of climate solutions: the first verification of new technology and/or its businessmodel at an industrial or commercial scale. The other investment category of the Climate Fund includes physical or digital platforms enabling emissions reductions. During its launching phase, the Climate Fund can provide capital loans or use special investment funds and other special funding instruments. The company will not award direct grants or subsidies. Depending on the financing category and target, the financing by the Climate Fund can vary between 1 and 20 million euros. The annual financing volume is approximately 80 million euros.

## Contacts

5 contacts available for Finnish Climate Fund. Shizune tracks 1 team members at Finnish Climate Fund. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/finnish-climate-fund?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Debt Financing | $2.5M–$12M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Energy | 7 | 33% |
| Renewable Energy | 6 | 29% |
| Sustainability | 4 | 19% |
| Construction | 3 | 14% |
| Manufacturing | 3 | 14% |

34 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 15 | 71% |
| Venture - Series Unknown | 2 | 10% |
| Series A | 1 | 5% |
| Series C | 1 | 5% |
| Funding Round | 1 | 5% |

6 stages tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Paula Laine | CEO | 6 | https://shizune.co/investors/profile/paula-laine |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Volare | Sustainable high-quality protein and lipid ingredients for the industry from local raw materials | $29.5M | Venture - Series Unknown | May 27, 2025 |  |
| AISTI | AISTI develops wood fiber-based acoustic tiles that are carbon negative, easy to recycle and plastic-free – bringing sustainability to construction tile by tile. | $14.1M | Debt Financing | Dec 12, 2024 |  |
| 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. | $9.7M | Debt Financing | May 23, 2024 |  |
| Filtrabit | Filtrabit is a clean technology company that develops industrial-size dust extraction tools that help to solve dust control issues. | $4.4M | Debt Financing | Mar 20, 2024 |  |
| Cactos | Cactos is a smart energy storage system that secures power supply locally. It installs smart energy storage systems on client premises to optimize energy use and hedge against price volatility. | $28.5M | Series A | Jan 10, 2024 |  |
| Paptic | Paptic is manufacturing company that revolutionizes environmental new material, wood-based renewable and recyclable products replacing paper and plastic. Paptic Ltd was April 2015. The company is based in Espoo, Finland and employs today 10 persons. | $11.7M | Debt Financing | Sep 04, 2023 |  |
| Hycamite TCD Technologies | Hycamite TCD Technologies is a privately-owned company that commercializes technology developed by several European universities. | $27.4M |  | Jul 18, 2023 |  |
| Norsepower Oy | Norsepower Oy is a Finnish clean technology and engineering company pioneering the generation of renewable wind energy for the global maritime industry. Norsepower is a provider of low-maintenance, software operated, and data verified auxiliary wind propulsion systems. Since its establishment in November 2012, Norsepower has gathered more than $6million USD of funding, which has enabled development, testing and piloting of the Norsepower Rotor Sail Solution. The main investors behind Norsepower are Power Fund III, Lifeline Ventures Oy, Finnvera Oyj, and Wate Oy. Norsepower is also funded by Tekes – the Finnish Funding Agency for Technology and Innovation. | $30.3M | Series C | Mar 28, 2023 |  |
| Hycamite TCD Technologies | Hycamite TCD Technologies is a privately-owned company that commercializes technology developed by several European universities. | $10.7M | Debt Financing | Feb 08, 2023 |  |
| Infrakit | Infrakit offers a cloud-based platform that enables collaboration and information sharing among various stakeholders involved in construction projects, such as designers, contractors, owners, and operators. The platform provides real-time visibility into project progress and helps to reduce errors, improve quality, and increase efficiency.Inaddition to its cloud-based platform, Infrakit also offers a range of services, including consulting, training, and support to help customers make the most of their digital solutions.Infrakit Group Oy has gained recognition in the construction industry for its innovative and user-friendly software solutions. The company has customers in Finland and other countries around the world, and it continues to expand its offerings to meet the changing needs of the construction industry. | $6.4M | Convertible Note | Feb 08, 2023 |  |

10 of 21 investments shown.

## Co-investors
- [Finnvera Venture Capital](https://shizune.co/investors/profile/finnvera-venture-capital) — VC Fund, 3 deals together
- [Mirova](https://shizune.co/investors/profile/mirova) — VC Fund, 2 deals together
- [Norion Bank](https://shizune.co/investors/profile/norion-bank) — VC Fund, 2 deals together
- [Firstminute Capital](https://shizune.co/investors/profile/firstminute-capital) — VC Fund, 1 deal together
- [HAI Capital Group](https://shizune.co/investors/profile/hai-capital-group) — VC Fund, 1 deal together
- [Holdix Oy Ab](https://shizune.co/investors/profile/holdix-oy-ab) — VC Fund, 1 deal together

## Similar investors

### Similar industry
- [Lowercarbon Capital](https://shizune.co/investors/profile/lowercarbon-capital) — VC Fund
- [Breakthrough Energy Ventures](https://shizune.co/investors/profile/breakthrough-energy-ventures) — VC Fund
- [HTGF (High-Tech Gruenderfonds)](https://shizune.co/investors/profile/high-tech-gr%C3%BCnderfonds) — VC Fund

### Similar stage
- [ENISA](https://shizune.co/investors/profile/enisa-2) — VC Fund
- [Development Bank of Wales](https://shizune.co/investors/profile/development-bank-of-wales) — VC Fund
- [The FSE Group](https://shizune.co/investors/profile/finance-south-east) — VC Fund

### Similar country
- [Business Finland](https://shizune.co/investors/profile/tekes) — VC Fund
- [Lifeline Ventures](https://shizune.co/investors/profile/lifeline-ventures) — VC Fund
- [Tesi](https://shizune.co/investors/profile/tesi) — VC Fund

## Featured in investor lists
- [All Investors in Finland](https://shizune.co/investors/investors-finland)
- [All VC Funds in Finland](https://shizune.co/investors/vc-funds-finland)
- [Energy Investors in Finland](https://shizune.co/investors/energy-investors-finland)
- [Energy VC Funds in Finland](https://shizune.co/investors/energy-vc-funds-finland)
- [Sustainability Investors in Finland](https://shizune.co/investors/sustainability-investors-finland)
- [Impact Investors in Finland](https://shizune.co/investors/impact-investors-finland)

## FAQ

### What does Finnish Climate Fund invest in?

Finnish Climate Fund invests primarily in Energy, Renewable Energy and Sustainability startups, most often at Debt Financing and Venture - Series Unknown stage. Most of the 21 investments tracked by Shizune back companies in Finland. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Finnish Climate Fund's check size?

Finnish Climate Fund typically joins rounds of $2.5M–$12M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Finnish Climate Fund participates in.

### How do I contact Finnish Climate Fund?

Public channels for Finnish Climate Fund include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Finnish Climate Fund?

The team at Finnish Climate Fund includes Paula Laine (CEO). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co