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The Venture Codex

Illusian

Aleksanterinkatu 11, Helsinki, Uusimaa, 00100, Finland

Overview

Founder office supporting the next generation of entrepreneurs.

Founded

2014

Deals · 12mo

4

Links

WebsiteLinkedIn

Stage focus

Seed
Series A

Geographic focus

Finland
Germany
Norway
Sweden
...

Sector focus

—

Investment portfolio

11rounds
NAMEDATESIZE
NewOrbit
Jun 2026Participated
$19 MSeries A
CodeWords
May 2026Participated
$9 MSeed
Skye
Dec 2025Participated
$11 MSeed
Riff
Oct 2025Participated
$16 MSeries A
Vibe
Sep 2025Participated
$50 MSeries B
Ovido
Jun 2025Participated
$3 MSeed
Ontik
May 2025Participated
$4 MSeed
Pixieray
Apr 2025Participated
$37 MSeries A
Zero
Dec 2024Participated
$3 MSeed
Limbic
Mar 2024Participated
$14 MOther Equity
HiveMQ
May 2022Participated
$42 MSeries A
NewOrbit
Jun 2026Participated
$19 MSeries A
CodeWords
May 2026Participated
$9 MSeed
Skye
Dec 2025Participated
$11 MSeed
Riff
Oct 2025Participated
$16 MSeries A
Vibe
Sep 2025Participated
$50 MSeries B
Ovido
Jun 2025Participated
$3 MSeed
Ontik
May 2025Participated
$4 MSeed
Pixieray
Apr 2025Participated
$37 MSeries A
Zero
Dec 2024Participated
$3 MSeed
Limbic
Mar 2024Participated
$14 MOther Equity
HiveMQ
May 2022Participated
$42 MSeries A
11
Items
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Insights

Time horizon

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Deal Distribution

Illusian: 11 funding rounds are recorded in the selected participation categories.All available history.
Illusian: 11 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed05
Series A04
Series B01
Other Equity01

Monthly Deal Activity

Illusian: 11 deals are recorded across 54 months.All available history.
Illusian: 11 deals are recorded across 54 months. All available history
MonthDeals
May '221
Jun '220
Jul '220
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '230
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '241
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '250
Feb '250
Mar '250
Apr '251
May '251
Jun '251
Jul '250
Aug '250
Sep '251
Oct '251
Nov '250
Dec '251
Jan '260
Feb '260
Mar '260
Apr '260
May '261
Jun '261
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Illusian: Enterprise Software is the largest displayed sector by deal count (5 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.

Illusian: Enterprise Software is the largest displayed sector by deal count (5 deals). All available history
SectorDeals
Enterprise Software5
Networks, Cloud & Communication3
AI & Machine Learning3
Hardware & Robotics2
Marketing & Advertising2
Transportation & Logistics1
Consumer & Lifestyle1
Fintech1
Manufacturing1
Media & Entertainment1
Health & Life Sciences1
Professional Services1
Clean Energy & Sustainability1
Space & Frontier Tech1

Deal Size Distribution

Illusian: 11 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.

Illusian: 11 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M3
$5M-$10M1
$10M-$25M4
$25M-$50M2
$50M-$100M1
$100M-$250M0
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Illusian: Europe has the largest recorded deal count among the displayed regions (7 deals).All available history.

Top 3 of 3 regions; European countries are grouped as Europe.

Illusian: Europe has the largest recorded deal count among the displayed regions (7 deals). All available history
RegionDeals
Europe7
United States3
Wales, United Kingdom1
Illusian: 20 co-investors are shown, with Firstminute Capital sharing 3 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.

Illusian: 20 co-investors are shown, with Firstminute Capital sharing 3 recorded deals. All available history
Co-investorShared deals
Firstminute Capital3
Tiny VC3
byFounders2
Lifeline Ventures2
Maki.vc2
20Growth1
20Product1
20VC1
Amazon1
Atlantic Labs1
Bragiel Brothers1
Course Corrected1
Custos1
Discovery Ventures1
Earlybird1
Elaia1
Emblem1
Eurazeo1
First Fellow Partners1
FJ Labs1

Investment Strategy

Illusian: Led accounts for 0% and participating for 100% of round participation.All available history.
Illusian: Led accounts for 0% and participating for 100% of round participation. All available history
CategoryDeals (count)Share (%)
Led00%
Participating11100%
Illusian: Single-lead accounts for 0% and co-led for 0% of lead dynamics.All available history.
Illusian: Single-lead accounts for 0% and co-led for 0% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead00%
Co-led00%

Lead dynamics requires at least one led deal in this range

Team

Ilkka Paananen

Co-Founder

Mikko Savolainen

Partner

Teemu Korhonen

Partner