Doing Goodin society

Innovestor was founded in 2014 to solve a very tangible problem for technology entrepreneurs: a lack of capital for growing the business. At the same time, we identified an increasing demand among private investors to gain access to promising early-stage technology startups. Our first product, an online co-investment platform, was developed and brought to market to address this opportunity.

The business gained traction, and our community grew. We were able to attract ambitious founders and smart investors to the platform. Meanwhile, we reached another conclusion: a more impactful way to support founders is by backing a company’s lifecycle, not just a single round of funding. The most suitable model for achieving that at a meaningful scale is a VC fund.

At the end of 2016, we acquired a large startup portfolio (Vera Ventures) in a secondary transaction, which became our VC fund 1. With the transaction, our team was strengthened by a group of experienced VC professionals from Vera Ventures. A year later, we raised our VC fund 2 for new seed-stage investments in technology startups.

Acquiring Kasvun Roihu (now Innovestor Ignite / Corporate Venturing services) in 2018 was an important milestone in expanding our unique startup ecosystem. The company offered growth and innovation programs to startups and corporations and operated the inclusive Finnish startup sparring network Kasvu Open. We were joined by a large and enthusiastic team of new colleagues from Jyväskylä.

We raised our VC fund 3 just before Covid-19 hit in March 2020. As the world self-isolated, we focused on supporting our portfolio companies. Despite the hardship, our portfolio fared well, particularly those operating within online grocery sales/delivery and certain areas of life science & health. Similarly, the real estate assets proved resilient.

The pandemic was also a good time to reflect on the journey so far. Why are we coming to work, or opening MS Teams, every day? It helped to take a step back from the everyday grind, and think about the things that truly matter. In many ways, we came out of the process more focused and united.

Life after Covid-19 brought a permanent new normal, and we focused on finding new ways of working together, partly remotely. The year 2022 turned out to be notably busy and exciting for us. During the first half, we launched our fourth and largest fund to date, the €90 million Life Science Fund. The fund was highly anticipated, marking it as the first of its kind in Finland in over a decade.

At the end of the year, we introduced the PALO Accelerator Program, targeting pre-seed sustainable tech startups. The program not only provides initial investments to kickstart growth but also builds a large network of customer contacts, investors, and specialists for the participants.

Finally, we embarked on our largest Real Estate project to date, focusing on energy efficiency, stable cash flow, and value appreciation potential. This marked our fifth property initiative, further expanding our real estate team with new professionals.

In 2023, in collaboration with Business Finland Venture Capital, we introduced Finland’s first Angel Co-Fund to bolster the Finnish startup ecosystem. The €30 million fund is dedicated to seeding the growth of Finnish startups in collaboration with angel investor groups. This initiative was extremely well-received, boosting early-stage investments in a challenging market climate.

In 2024, we celebrate our 10th anniversary, reflecting on a decade of impactful investments and looking forward to shaping the future. Today, we are one of the most active Nordic venture capital firms, investing in life-saving science, sustainable tech innovations, the green transition, and sustainably built commercial real estate. Being one of the most active investors in the Nordics, we continue to work at the intersection of entrepreneurs, investors, and sustainability-driven corporations, building a powerful community that makes a positive impact.