First investments from the Angel CoFund mark a promising start 

In December 2023, Innovestor, in collaboration with Business Finland Venture Capital, introduced Finland’s first Angel CoFund, locally known as Kanssasijoitusrahasto, a new fund to bolster the Finnish startup ecosystem. This €30 million co-investment fund is designed to fuel the growth of seed-stage Finnish companies in collaboration with angel investor groups. The fund aims to enhance the early-stage investment landscape in Finland, fostering a more expansive and diverse Nordic investment ecosystem while providing increased funding opportunities for promising early-stage companies.  

After four months, we’re excited to announce the fund’s first investments. 

Spotlight on the first ventures 

Hytrade: Leveling the playing field of the green hydrogen market 

Hytrade is making significant strides with its innovative SaaS platform that optimizes electricity for green hydrogen production. Tailored for the volatile and fast-paced green hydrogen sector, the platform leverages Hytrade’s extensive experience in electricity trading and advanced technology to enhance operational efficiency and reduce production costs. This improvement is crucial for making green hydrogen a competitive alternative to fossil fuels, particularly in hard-to-electrify industries like steel and heavy transportation.

“Having already gained significant traction among the players in the green hydrogen space, we are now able to speed up the technology development with the help of this pre-seed financing round,” says Anne Särkilahti, CEO and Co-Founder at Hytrade.

The startup closed a €190K funding round, with €95K provided by the Angel CoFund. Angel investors in the round have backgrounds in the IT industry, corporate finance, and startups.

Coiniverse: Delighting everyone with coins 

Coiniverse closed a funding round of €290K, with €115K from the Angel Co-Fund, to expand its worldwide digital platform for coin collectors. The Coiniverse app elevates coin collecting by enabling enthusiasts to join a global community of over 150,000 members, explore a comprehensive database of over 100,000 coins, and connect with mints worldwide for the latest releases and exclusive insights. The app simplifies adding new coins to collections through advanced scanning and search capabilities, making it easier than ever to expand and manage personal collections while engaging with like-minded collectors across the globe.

“We are thrilled to welcome the Angel CoFund on board. The whole start-up community welcomes this initiative to help early-stage companies to grow faster. With this backing, Coiniverse is ready to accelerate its growth towards the global marketplace and continue presenting innovations in the coin-collecting industry,” says Mikko Sievänen, CEO and Co-Founder of Coiniverse.

This project is supported by  F Knol Beheer B.V. , VNTRS Investment Ab, Mondo Divino LLC, Kesti Group Oy, Jarkko Forsberg, Tuomas Maisala, Jarmo Hakkarainen, and  José Sanchez.

Fuel Finnish innovation with the Angel CoFund 

The Angel CoFund is set to make a meaningful impact by supporting approximately 100 Finnish seed-stage companies.  

Some key features of the Angel CoFund:

If you’re an angel investor looking for a co-investor for scale, check the fund’s website and contact the fund partners for more information. 

Stay tuned for more investment news soon!