Lifeline Ventures, a historic player in Finnish venture capital, has just raised 400 million eurosthus constituting the largest fund ever created in the country to invest in European technology startups. This sixth investment vehicle marks an important milestone for the Nordic scene, long recognized for its excellence in innovation but limited in its ability to support the growth of its champions on a large scale.
Founded by Timo Ahopelto And Jyri EngeströmLifeline Ventures has established itself as a catalyst for the success of Finnish tech, being the first institutional investor in Supercellthe creator of Clash of Clans now owned by Tencent, but also in Wolt (acquired by DoorDash), Oura (the connected health ring), Aiven (open-source data platform), and Iceyea pioneer in satellite imagery. In total, almost all Finnish unicorns resulting from seed funding counted Lifeline among their first investors.
The fund brought together an unprecedented group of institutional investors with Grove Street Advisorspension funds Varma And Elo, Nordea Life Finlandas well as the public investment agency Tesi. This fundraising brings the total funds managed by Lifeline to nearly 790 million eurosan almost doubling compared to all of its five previous funds combined. The challenge is to be able to continue investing in startups beyond the initial stage, in their growth rounds, before they are taken over by foreign investors.
This change of scale illustrates the emergence of a Nordic patient capital. Lifeline’s first three funds have a net multiple of 6xa rare performance on the continent. The new fund is, according to its leaders, almost four times higher than the European average for this type of vehicle. It will make it possible to inject significant amounts into companies capable of becoming world leaders in markets without growth constraints, while consolidating a technological ecosystem now visible internationally.
Lifeline Ventures today embodies a part of European tech, with a venture capital rooted locally but scaled globallyseeking to reconcile performance, sovereignty and industrial ambition.
