Introducing our new member Helsinki Partners: Fostering international growth in Finland

Helsinki Partners is a city marketing, investment and talent attraction company wholly owned by the City of Helsinki. The company’s main goal is to create international business opportunities to Finland, fostering growth for local companies.

Panu Maulaheimo and Tian Yu work within the strategic initiatives team where they focus on internationalizing the venture capital ecosystem in Finland. Their efforts are directed towards attracting limited partner (LP) investors from abroad to Finnish venture capital (VC) funds and facilitating introductions between these LPs and local VC funds. Additionally, they aim to encourage international funds to establish a presence in Finland, either through local offices or by setting up new funds in Finland.

The team also works to enhance the corporate venture capital (CVC) market in Finland by promoting collaborations between international CVC players and Finnish corporations.

”Although the CVC market in Finland is not yet booming, we believe Finnish corporations could play a bigger role in the venture capital market as well. Over the years, we have built a strong network by engaging with major CVC players globally, and our next step is to leverage this network to increase CVC involvement in Finland,” comments Yu.

Helsinki Partners was established through a series of transformations, starting with the ”Greater Helsinki Area Business Promotion Agency” which was owned by the cities of Helsinki, Vantaa, Espoo and Kauniainen. As the focus became more Helsinki-centric, the City of Helsinki bought out the other cities and the ”Helsinki Business Hub” was born. A few years later, in 2021, the City of Helsinki combined the operations of its subsidiaries, ”Helsinki Business Hub” and ”Helsinki Marketing,” into a new company named ”Helsinki Partners.” The team consists of around 60 individuals, each bringing unique expertise. Most team members are involved in business advisory, attracting congresses, hotels, and visitors, and marketing Helsinki’s international brand and doing public relations.

Facilitating international connections

Helsinki Partners’ activities can be summarized in to two main areas: Firstly, going abroad and trying to meet the prospects they want to be involving to the Finnish venture capital ecosystem. Secondly, organizing programs to bring international investors and business executives to Finland, such as the ”90 Day Finn” and ”Venture Nordics” programs.

The 90 Day Finn Program offers its’ international participants the opportunity to live and work like a Finn. This unique venture is designed to fuel business growth and provide participants with access to Helsinki’s thriving business ecosystem. It requires commitment and attracts people from diverse backgrounds, including business executives, investors, scale-up founders, and individuals in the art and design industries. Now entering its fourth edition in August, the program helps participants make valuable connections and benefit from Finland’s strong public-private partnerships.  A very recent success case from the 90 Day Finn Program is Leo Capital, a Singapore based early-stage venture capital firm. Leo Capital’s funds are backed by LPs like Cendana Capital and Dubai Future District Fund. The firm has now set up their Finnish operations and are launching a new Finnish fund with an office in Helsinki. The fund will back early-stage companies from Finland and from the rest of the Nordic and Baltic region. Leo Capital’s co-founder and managing partner explored Finland as a 90 Day Finn and decided to expand the European operations from Finland.

Venture Nordics is a 9-day program in Helsinki for international fund managers and LPs. Designed for those interested in exploring opportunities in the New Nordics, the program offers a deep dive into the Finnish ecosystem, blending professional networking, ecosystem insights, and the essence of Finnish culture. The program ran for the first time recently and included nine participants. Following its successful first run, the second edition will take place during Slush.

Committed to support the Finnish VC ecosystem

Helsinki Partners collaborates extensively with the venture capital industry to foster a more international ecosystem and attract more international capital to Finland. Their approach is multifaceted, aimed at increasing the presence of international venture capital fund operators in Finland. By doing so, they believe these operators will draw their LPs to explore opportunities in Finland, creating a ripple effect that attracts even more international LPs. To achieve this, Helsinki Partners provides valuable information, hands-on assistance, and facilitates connections between LPs and VCs. They have built an extensive international network and work tirelessly to expand it, enhancing both the capital and expertise available in Finland.

The values upheld by Helsinki Partners are fundamental to their operations. They emphasize working with trustworthy entities that contribute positively to the future of Finnish VC. The City of Helsinki’s sustainability goals are a driving factor for the entire company. Transparency, sustainability, and mutual benefits are key values that guide their collaborations. They seek foreign investors who share these values, believing that success in Finland requires a commitment to these principles.

Looking ahead, Helsinki Partners aims to solidify its role as a key partner for international VCs while also becoming a go-to partner for Finnish VCs. Their strategy has primarily focused on international operations, as having strong international connections is crucial for attracting funds and LPs to Finland. However, they are also looking to work more closely with Finnish funds and LPs to support the type of growth they desire.

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Read more from Helsinki Partners’ website.