FINNISH STARTUP FUNDING REACHED NEW HIGH IN 2019

In 2019, startups and growth companies raised a new record amount, totaling 511 million euro. Business angels invested 54 million, a new all-time high, and Finnish venture capital (VC) funds invested 113 million euros. Foreign investors invested 295 million euro into Finland. The most significant increase in investments came from foreign VC funds, which invested 180 million into Finnish companies, while the share of other foreign investments dropped to 115 million euro.
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The sum of angel investments rose to record levels in 2019, when business angels in Finland invested 54 million euros into a total of 415 startups. This is what FiBAN’s annual investment survey of its members – one of the most comprehensive statistics on angel investment in Europe – finds. FiBAN, which operates in Finland, is one of the world’s largest business angel networks.

The record figures are partly explained by a few exceptionally large individual investments. Often, angels also fund their portfolio companies through follow-up rounds, the number of which was significant in 2019. “We have a community of more than 650 private investors with diverse investor profiles. There is a lot of variation in the investment volumes of individuals who invest their personal wealth,” says Amel Gaily, Managing Director of FiBAN.