• Finnish VC funds hit a historic €265 million in the first half of 2023, positioning Helsinki as a prime destination for VCs and startups.
• Helsinki, celebrated for its innovation and business-friendly environment, attracts global interest with support from Helsinki Partners and the FVCA.
• Global investor Antler plans to launch 50 new companies in Finland, highlighting Helsinki’s appeal to international talent and investors.
• With 15 new VC teams and a vibrant support system, Helsinki’s startup scene is poised for unparalleled growth and opportunities in 2024.

Helsinki is becoming a hotspot for venture capitalists (VCs) and startups. With its strategic location and supportive startup environment, it’s a great place for businesses looking to grow. 

Helsinki is great for VCs 

Tian Yu from Helsinki Partners puts it simply: “Helsinki is great for VCs. It’s stable, business-friendly, and full of innovative ideas, with low hierarchy and widespread English proficiency. Even during an economic downturn, a strong foundation has been built for both early and late-stage ventures. Helsinki is ready when the economy starts thriving again.” 

The Finnish Venture Capital Association (FVCA) and new investors like Antler are also excited about what Helsinki has to offer. 

“Finland has a lot of early-stage funding available and maintained these levels during 2023. Over the recent decade, the Finnish startup ecosystem has matured – and after many successful exits and global growth stories, we now have a pool of highly experienced entrepreneurs both investing in and building the next wave of European tech companies. It’s no wonder that international VCs are interested in integrating into the Finnish ecosystem,” Jonne Kuittinen, Deputy Chief Executive at FVCA explains. 

Antler plans to start 50 new companies in Finland  

Antler, one of the new players in Helsinki is a global investor planning to start 50 new companies in Finland, showing the city’s appeal to international talent and investors. 

“Finland and Helsinki are truly at the forefront of global innovation. High entrepreneurial spirit, strong technological know-how, and a forward-thinking mindset create an environment where investment and startups can thrive. Helsinki is an attractive destination for global talent and in Antler’s residency program, 50% of applicants are expats. This is a sign that Helsinki is not just a place to invest: it’s a place to shape the future,” says Jussi Kallasvuo, partner at Antler. 

Finland welcomes 15 new VC teams  

The domestic venture scene is on an upward trajectory, with Finnish VC funds securing a record-breaking €265 million in the first half of 2023.  

This period also welcomed new international investors and the inception of several funds to the world’s happiest capital, such as Kvanted with its industrial tech focus, the Finnish American Failup Ventures, and Greencode Ventures, pioneers of the digital-first green transition.  

Well-established entities like Lifeline Ventures, Voima Ventures, IPR VC, and Nordic Ninja have been instrumental in enriching the landscape with new funding initiatives. The last five years have seen the emergence of 15 new VC teams, according to FVCA data. 

Looking ahead to 2024, the outlook for Finland’s venture capital and startup sectors is exceptionally bright. The solid foundation laid down by the Finnish venture ecosystem is poised to create unprecedented opportunities for startups and investors alike, ushering in a period of groundbreaking achievements in the field. 

Helsinki Partners is committed to nurturing ecosystem growth  

Helsinki’s commitment to fostering a supportive business ecosystem is demonstrated by the various initiatives and resources available for startups and VCs. 

“The support we received from Helsinki Partners was instrumental in our decision-making process. Their assistance was crucial, showcasing the city’s commitment to nurturing startup growth and enabling access to a broad network of valuable connections,” states Kallasvuo, emphasising the strategic advantages of opting for Helsinki. 

Beyond the professional benefits, Helsinki is celebrated for its exceptional quality of life. Renowned for its pristine environment, exemplary education system, and comprehensive healthcare, the city offers a welcoming setting for professionals and their families. 

Experience the Nordic Startup Hub through the Venture Nordic Program 

Immerse yourself in Helsinki’s distinctive startup ecosystem and outstanding quality of life through the Venture Nordics Program by Helsinki Partners. Taking place from 30 May to 7 June 2024, this initiative provides a unique opportunity to delve into the nuances of Finland’s VC scene. Accepting applications through 18 February 2024, seize the moment to discover what makes Helsinki a leading Nordic startup hub. Apply now.