The Venture Codex Logo

The Venture Codex

Business Finland

Porkkalankatu 1, Helsinki, Uusimaa, 00180, Finland

Overview

Finnish funding agency promoting innovation in various sectors.

Founded

1983

Deals · 12mo

14

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed

Geographic focus

Finland
United States

Sector focus

Finance
Venture Capital

Investment portfolio

121rounds
NAMEDATESIZE
AQ Biotech
Sep 2026Led
$3 MSeed
STRGY AI
Aug 2026Participated
$1 MSeed
Cornea Sense
Jul 2026Participated
$1 MSeed
ReOrbit
Jun 2026Led
$5 MGrant
Solar Foods
Jun 2026Led
$90 MDebt
eMabler
Jun 2026Participated
$9 MSeries A
Rotomate
Jun 2026Participated
$2 MSeed
Skyfora
Jun 2026Participated
$7 MSeed
Jaakko
Apr 2026Participated
$0.58 MOther Equity
Audicin
Apr 2026Participated
$2 MOther Equity
Test of Things
Mar 2026Participated
$1 MSeed
Agileday
Jan 2026Participated
$8 MSeries A
AQ Biotech
Sep 2026Led
$3 MSeed
STRGY AI
Aug 2026Participated
$1 MSeed
Cornea Sense
Jul 2026Participated
$1 MSeed
ReOrbit
Jun 2026Led
$5 MGrant
Solar Foods
Jun 2026Led
$90 MDebt
eMabler
Jun 2026Participated
$9 MSeries A
Rotomate
Jun 2026Participated
$2 MSeed
Skyfora
Jun 2026Participated
$7 MSeed
Jaakko
Apr 2026Participated
$0.58 MOther Equity
Audicin
Apr 2026Participated
$2 MOther Equity
Test of Things
Mar 2026Participated
$1 MSeed
Agileday
Jan 2026Participated
$8 MSeries A
121
Items
...
Browse all public portfolio deals

Insights

Time horizon

View by

Deal Distribution

Business Finland: 121 funding rounds are recorded in the selected participation categories.All available history.
Business Finland: 121 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed344
Series A011
Series B02
Other Equity843
Grant60
Debt31

Monthly Deal Activity

Business Finland: 121 deals are recorded across 194 months.All available history.
Business Finland: 121 deals are recorded across 194 months. All available history
MonthDeals
Sep '101
Oct '100
Nov '100
Dec '100
Jan '110
Feb '110
Mar '110
Apr '110
May '110
Jun '110
Jul '111
Aug '112
Sep '111
Oct '110
Nov '110
Dec '110
Jan '122
Feb '120
Mar '120
Apr '120
May '120
Jun '120
Jul '120
Aug '120
Sep '121
Oct '120
Nov '120
Dec '121
Jan '130
Feb '130
Mar '131
Apr '131
May '130
Jun '130
Jul '130
Aug '131
Sep '130
Oct '130
Nov '132
Dec '130
Jan '140
Feb '140
Mar '140
Apr '141
May '143
Jun '140
Jul '141
Aug '141
Sep '141
Oct '140
Nov '142
Dec '141
Jan '150
Feb '150
Mar '150
Apr '150
May '151
Jun '150
Jul '150
Aug '150
Sep '152
Oct '150
Nov '150
Dec '150
Jan '161
Feb '161
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '161
Dec '161
Jan '170
Feb '170
Mar '170
Apr '170
May '171
Jun '172
Jul '170
Aug '175
Sep '170
Oct '170
Nov '172
Dec '170
Jan '180
Feb '181
Mar '182
Apr '180
May '180
Jun '182
Jul '180
Aug '181
Sep '180
Oct '180
Nov '180
Dec '181
Jan '191
Feb '192
Mar '190
Apr '191
May '191
Jun '191
Jul '191
Aug '190
Sep '191
Oct '190
Nov '191
Dec '191
Jan '201
Feb '200
Mar '201
Apr '202
May '200
Jun '202
Jul '200
Aug '200
Sep '200
Oct '201
Nov '200
Dec '202
Jan '210
Feb '210
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '211
Sep '211
Oct '210
Nov '210
Dec '210
Jan '221
Feb '221
Mar '220
Apr '222
May '220
Jun '220
Jul '220
Aug '220
Sep '221
Oct '220
Nov '220
Dec '220
Jan '230
Feb '231
Mar '231
Apr '231
May '233
Jun '231
Jul '230
Aug '231
Sep '233
Oct '232
Nov '232
Dec '230
Jan '241
Feb '240
Mar '241
Apr '240
May '241
Jun '242
Jul '240
Aug '243
Sep '242
Oct '241
Nov '241
Dec '240
Jan '250
Feb '251
Mar '251
Apr '251
May '250
Jun '251
Jul '250
Aug '250
Sep '251
Oct '250
Nov '251
Dec '250
Jan '262
Feb '260
Mar '261
Apr '262
May '260
Jun '265
Jul '261
Aug '261
Sep '261
Oct '260

Sector Breakdown

Business Finland: Enterprise Software is the largest displayed sector by deal count (38 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Business Finland: Enterprise Software is the largest displayed sector by deal count (38 deals). All available history
SectorDeals
Enterprise Software38
Health & Life Sciences34
Networks, Cloud & Communication28
AI & Machine Learning18
Hardware & Robotics17
Data, Analytics & IT15
Media & Entertainment15
Marketing & Advertising14
E-Commerce & Retail11
Clean Energy & Sustainability11
Professional Services11
Transportation & Logistics10
Manufacturing10
Social & Community Platforms8
AR/VR7
Real Estate & Construction7
Space & Frontier Tech7
Consumer & Lifestyle7
Food & Agriculture5
Education & Workforce3
Fintech3
Gaming & eSports2
Travel & Hospitality1
Cybersecurity & Privacy1
Crypto & Blockchain1
Developer Tools1

Deal Size Distribution

Business Finland: 121 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Business Finland: 121 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M92
$5M-$10M17
$10M-$25M9
$25M-$50M1
$50M-$100M2
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Business Finland: Europe has the largest recorded deal count among the displayed regions (109 deals).All available history.

Top 5 of 5 regions; European countries are grouped as Europe.

Business Finland: Europe has the largest recorded deal count among the displayed regions (109 deals). All available history
RegionDeals
Europe109
United States9
322001
005301
Australia1
Business Finland: 20 co-investors are shown, with Lifeline Ventures sharing 11 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Business Finland: 20 co-investors are shown, with Lifeline Ventures sharing 11 recorded deals. All available history
Co-investorShared deals
Lifeline Ventures11
Finnvera9
Inventure7
Reaktor Ventures7
Superhero Capital6
Voima Ventures6
Butterfly Ventures5
Innovestor5
Trind Ventures5
Maki.vc4
Nordic Foodtech VC4
FOV Ventures3
Gorilla Capital3
Icebreaker.vc3
PROfounders Capital3
Stephen Industries3
Vendep Capital3
Brighteye Ventures2
Crowberry Capital2
Harjavalta2

Investment Strategy

Business Finland: Led accounts for 17% and participating for 83% of round participation.All available history.
Business Finland: Led accounts for 17% and participating for 83% of round participation. All available history
CategoryDeals (count)Share (%)
Led2017%
Participating10183%
Business Finland: Single-lead accounts for 85% and co-led for 15% of lead dynamics.All available history.
Business Finland: Single-lead accounts for 85% and co-led for 15% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1785%
Co-led315%

Team

Kimmo Kanto
Lassi Noponen
Tuomas Planman