Finnish venture capital investors going strong – €284 million invested in startups

Finnish venture capital investors invested a total of €284 million in startups during the first half of 2026, marking the second-highest half-year total on record. Of this amount, a record €213 million was invested in Finnish startups. Finnish startups continued to attract strong investment from both domestic and international investors. Building on the strong momentum in the first half of the year, Finnish startups are once again on track for a record-breaking year.

According to the latest statistics from the Finnish Venture Capital Association (FVCA), Finnish venture capital investors made a total of €284 million in investments in Finnish and international startups during the first half of 2026, marking the second-highest half-year total on record. Of this amount, a record €213 million was invested in Finnish startups. Domestic investments increased significantly compared to the corresponding period in the previous year, with growth driven by both private and public sector investors.

Investments in later-stage startups saw particularly strong growth. Investments in more established startups reached a record €166 million, an increase of €43 million compared to the first half of 2025. Seed-stage investments also reached new records, both in terms of the total amount invested and the number of portfolio companies. A total of 90 early-stage companies raised €58 million in new funding.

“There is strong momentum in startup investments across both early and later stages. Successful companies are growing bigger and raising increasingly large funding rounds. At the same time, early-stage companies leveraging or developing artificial intelligence are creating a wealth of new investment opportunities. This is one of the most exciting and opportune times to invest in early-stage technology companies,” says Jonne Kuittinen, Deputy Chief Executive of the Finnish Venture Capital Association.

Investments in Finnish startups heading towards a new record

Finnish startups attracted strong investment from both domestic and international investors in the first half of 2026. Based on developments in the first half of the year, Finnish startups are once again on track for a record-breaking year.

By the end of October, Finnish startups had raised a total of €1899 million in funding, approaching the record level reached in 2025. Of this amount, €846 million was raised during the first half of the year. A significant share of the total was driven by the €1 billion funding round raised by defence and space technology company ICEYE.

The success of Finnish startups is also reflected in the stock market. Three significant listings have taken place in Finland during the second half of 2026, with IQM, Steady Energy and Sensofusion all going public. All three companies have received funding from Finnish venture capital investors. A listing is one way for a venture capital investor to realise its investment by selling its ownership stake in a company.

“It is great to see Finnish venture capital investors helping companies grow into internationally significant success stories. Well-functioning exit markets are an essential part of the venture capital market, as they enable capital to be recycled and reinvested in new growth stories. In this way, active ownership and long-term investing continue to support the growth of Finnish companies, time and time again,” says Anne Horttanainen, Managing Director of the Finnish Venture Capital Association.

​Read more about the statistics here!

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Additional information:
Jonne Kuittinen
Finnish Venture Capital Association, Deputy Chief Executive
jonne.kuittinen@fvca.fi
+358 44 333 3267

Anne Horttanainen
Managing Director, Finnish Venture Capital Association
anne.horttanainen@paaomasijoittajat.fi
+358 40 510 4907