The Venture Codex Logo

The Venture Codex

Maki.vc

Lapinlahdenkatu 16 Maria 01, Building 5, Entrance B, Helsinki, 00180, Finland

Overview

Venture capital firm investing in deep tech and brand-driven companies.

Founded

2018

Deals · 12mo

5

Links

WebsiteLinkedInX (Twitter)

Stage focus

Seed
Series A

Geographic focus

Denmark
Finland
Germany
Norway
...

Sector focus

—

Investment portfolio

71rounds
NAMEDATESIZE
Sono
Jun 2026Led
$1 MSeed
Quanscient
May 2026Participated
$12 MSeries A
Metaktik
Mar 2026Led
$1 MSeed
Ever
Feb 2026Participated
$31 MSeries A
Riff
Oct 2025Participated
$16 MSeries A
Sera AI
Oct 2025Led
$2 MSeed
ONiO
Jun 2025Led
$6 MOther Equity
FinanceKey
Jun 2025Led
$4 MSeed
Magic Feedback
Jun 2025Participated
$6 MSeed
Volare
May 2025Participated
$31 MOther Equity
Lightsonic
May 2025Led
$4 MSeed
Pixieray
Apr 2025Participated
$37 MSeries A
Sono
Jun 2026Led
$1 MSeed
Quanscient
May 2026Participated
$12 MSeries A
Metaktik
Mar 2026Led
$1 MSeed
Ever
Feb 2026Participated
$31 MSeries A
Riff
Oct 2025Participated
$16 MSeries A
Sera AI
Oct 2025Led
$2 MSeed
ONiO
Jun 2025Led
$6 MOther Equity
FinanceKey
Jun 2025Led
$4 MSeed
Magic Feedback
Jun 2025Participated
$6 MSeed
Volare
May 2025Participated
$31 MOther Equity
Lightsonic
May 2025Led
$4 MSeed
Pixieray
Apr 2025Participated
$37 MSeries A
71
Items
...
Browse all public portfolio deals

Insights

Time horizon

View by

Deal Distribution

Maki.vc: 71 funding rounds are recorded in the selected participation categories.All available history.
Maki.vc: 71 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed237
Series A216
Series B02
Series C+01
Other Equity911

Monthly Deal Activity

Maki.vc: 71 deals are recorded across 101 months.All available history.
Maki.vc: 71 deals are recorded across 101 months. All available history
MonthDeals
Jun '181
Jul '181
Aug '180
Sep '181
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '190
Jul '192
Aug '190
Sep '191
Oct '191
Nov '193
Dec '190
Jan '200
Feb '200
Mar '202
Apr '203
May '202
Jun '200
Jul '200
Aug '201
Sep '202
Oct '200
Nov '201
Dec '201
Jan '211
Feb '210
Mar '211
Apr '211
May '210
Jun '212
Jul '210
Aug '210
Sep '211
Oct '211
Nov '212
Dec '211
Jan '220
Feb '222
Mar '220
Apr '222
May '222
Jun '220
Jul '222
Aug '220
Sep '221
Oct '221
Nov '221
Dec '220
Jan '230
Feb '232
Mar '230
Apr '231
May '230
Jun '230
Jul '230
Aug '230
Sep '231
Oct '230
Nov '231
Dec '231
Jan '242
Feb '241
Mar '240
Apr '241
May '240
Jun '241
Jul '240
Aug '240
Sep '242
Oct '240
Nov '241
Dec '241
Jan '250
Feb '251
Mar '250
Apr '251
May '252
Jun '253
Jul '250
Aug '250
Sep '250
Oct '252
Nov '250
Dec '250
Jan '260
Feb '261
Mar '261
Apr '260
May '261
Jun '261
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Maki.vc: Enterprise Software is the largest displayed sector by deal count (22 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.

Maki.vc: Enterprise Software is the largest displayed sector by deal count (22 deals). All available history
SectorDeals
Enterprise Software22
AI & Machine Learning17
Networks, Cloud & Communication16
Space & Frontier Tech14
Health & Life Sciences11
E-Commerce & Retail10
Transportation & Logistics9
Hardware & Robotics9
Fintech9
Data, Analytics & IT8
Consumer & Lifestyle8
Food & Agriculture7
Manufacturing5
Professional Services5
Real Estate & Construction4
AR/VR3
Social & Community Platforms3
Clean Energy & Sustainability2
Marketing & Advertising2
Media & Entertainment2
Gaming & eSports2
Developer Tools2
Travel & Hospitality1

Deal Size Distribution

Maki.vc: 71 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.

Maki.vc: 71 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M33
$5M-$10M16
$10M-$25M13
$25M-$50M6
$50M-$100M2
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Maki.vc: Europe has the largest recorded deal count among the displayed regions (65 deals).All available history.

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

Maki.vc: Europe has the largest recorded deal count among the displayed regions (65 deals). All available history
RegionDeals
Europe65
005302
United States2
021501
Israel1
Maki.vc: 20 co-investors are shown, with First Fellow Partners sharing 6 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.

Maki.vc: 20 co-investors are shown, with First Fellow Partners sharing 6 recorded deals. All available history
Co-investorShared deals
First Fellow Partners6
Tesi6
Crowberry Capital5
Business Finland4
Matadero QED4
MIG Fonds4
OpenOcean4
Tencent4
Bragiel Brothers3
Creator Fund3
Firstminute Capital3
FOV Ventures3
HV Capital3
Play Ventures3
Sisu Game Ventures3
Skyfall Ventures3
Sondo3
Vendep Capital3
Vito Ventures3
Agronomics2

Investment Strategy

Maki.vc: Led accounts for 48% and participating for 52% of round participation.All available history.
Maki.vc: Led accounts for 48% and participating for 52% of round participation. All available history
CategoryDeals (count)Share (%)
Led3448%
Participating3752%
Maki.vc: Single-lead accounts for 62% and co-led for 38% of lead dynamics.All available history.
Maki.vc: Single-lead accounts for 62% and co-led for 38% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead2162%
Co-led1338%

Team

Ilkka Kivimaki

Partner

Paavo Räisänen

Partner

Pauliina Martikainen

Partner

Pirkka Palomaki

Partner

Reetta Heiskanen

Head of Platform & Marketing

Wilson Tukiainen