Growth in the Finnish economy outstripped neighbouring Sweden during the first quarter of the year. That may not warrant a headline under normal circumstances, but add that the country has now recorded its sixth consecutive quarter of growth and an economic turnaround story emerges, after enduring a three-year recession up to 2016.
This rebound is reflected in a vibrant VC scene, where capital is being invested in a diverse range of companies. Last month MaaS Global raised more than €10 million in funding, while digital karaoke service Singa closed a €1.75 million seed round. Recent reports that ‘Angry Birds’ maker and VC-backed Rovio Entertainment is considering a public listing round off the picture.
Since the start of 2015, 122 VC investors have completed at least one Finland-based venture deal, per the PitchBook Platform, with 277 deals closed in total during that span. IT investments attracted almost half of the deployed capital during that period (47%), while B2B was the second-most popular sector (28%) and healthcare third (12%).
Take a look at the top five VC investors in Finland since the beginning of 2015, along with their investment counts (excluding accelerator rounds):