Today we have some exciting news to share with you.
A first close of Inventure Fund III has been competed at €110 million, making it the largest early-stage technology fund ever raised in Finland. The new fund will enable us to support a new generation of Nordic tech entrepreneurs, helping them succeed faster.
Our conviction about the Nordic opportunity is greater today than ever before. Playing our part in building successful tech companies in the Nordics, we hope to contribute to the growth and development of the whole region. It’s been twelve years since we set up Inventure, and we are proud to call 1350 people employed by our portfolio companies our extended family. Now, we want to triple this number. Like a startup closing another round of funding, we want to continue the growth.
So what’s next for Inventure?
With the new fund, we stay true to our core. The increase in the fund size provides us with an additional capacity to lead investments not only at early stage, but all the way through expansion. We continue being an active investor for long-term. We strive to be the best sparring partner for our entrepreneurs, for good times and for bad times. We are not afraid of taking hard decisions. We love getting our hands dirty, and pride ourselves on being hands-on. In other words, your tough love investors.
Technology is what makes us excited. Having our roots in Finland, we enjoy the domains many don’t feel comfortable with. We make big bets on deep tech – artificial intelligence, internet of things, new materials, sensors, and mixed reality.
We will strengthen our investment activities in the Northern Europe, and hope to support the growing number of entrepreneurs not only in Finland, but also in Sweden, Denmark, Norway, and the Baltics. With the team across Helsinki, Stockholm and Shanghai, we continue investing our time and efforts into supporting our portfolio in their global expansion.
We are humbled to have many investors putting their trust in our team, and supporting us since the early days. We would like to thank European Investment Fund (EIF), Elo, Finnish Industry Investment (Tesi), Ilmarinen, Nordea Life Finland and other institutional and private investors leading the first close of the fund. Throughout 2018, we continue the fundraise towards the target size of €135 million.