Our goals
Our goal is to build a new decade of growth in Finland based on well-functioning capital markets, skilled ownership, and private investment.
Finland needs more growing companies, stronger domestic ownership, and more international capital. Private equity and venture capital investors finance company growth, but they also bring strategic expertise, active ownership, networks, and the ability to build companies over the long term.
Growth does not arise only from a good idea or the availability of funding. It emerges when capital, expertise, and ownership move efficiently to where companies renew themselves, internationalize, and create jobs.
The Finnish Venture Capital Association prepared a comprehensive policy paper in spring 2025 outlining key measures to support growth in the industry. As we prepare for the 2027 parliamentary elections, we highlight solutions that can strengthen growth, increase investment, and build a more competitive operating environment for companies and investors.
We need more growth capital for companies
Finland needs more growth capital across all stages of company development. Domestic private equity and venture capital funds must be able to scale to international size so they can finance companies further within Finland.
This requires a broad domestic and international investor base, competitive fund structures, and a predictable tax framework. Removing barriers to fundraising increases access to growth capital for Finnish companies and strengthens high-value expertise, specialist employment, and tax revenues in Finland.
Finland must be an attractive location for funds, investments, and talent. If Finnish funds cannot scale to the level of competing countries, company growth will increasingly be financed from abroad, and ownership will move outside Finland too early.
We need a predictable, growth-supporting operating environment
Growth requires a predictable regulatory and administrative environment. Companies, investors, and funds must be able to operate in Finland without unnecessary uncertainty, slow processes, or heavier regulation than in competing countries.
Authorities should act quickly, proportionately, and predictably. Decision-making must systematically assess impacts on growth, investment, and employment. Finland’s competitiveness strengthens when EU regulation is implemented without national gold-plating and when companies can trust that the rules remain consistent across government terms.
A growth-supporting operating environment benefits not only businesses but Finland as a whole, because investments, jobs, and tax revenues arise where the environment is stable, understandable, and competitive.
We need taxation that supports ownership and company growth
Long-term ownership requires taxation that supports investment, company development, and the reinvestment of capital. Company growth, ownership transitions, and capital recycling should not be hindered by tax uncertainty.
Finland must ensure that investments, corporate transactions, and growth financing are predictable from a tax perspective and competitive with peer countries. When ownership development is smooth, companies can grow longer in Finland, employ more people, and build a stronger domestic ownership base.
A growth-oriented economy needs taxation that does not penalize renewal, ownership changes, or long-term investing. The quality of ownership, active engagement, and the ability to build companies are decisive for Finland’s future growth.
We need functioning exit markets and a clear role for the state
Growth requires functioning exit markets and predictable capital markets. Capital and expertise flow into new growth companies only if M&A and IPO markets function smoothly and predictably.
Merger control, listing processes, and regulatory practices must be competitive internationally. At the same time, the state’s role in capital markets must be clear and stable: the state should complement the market where gaps exist, not crowd out private capital or change the rules in a short-term manner.
When exit markets function and the state’s role is predictable, capital is released into new investments, companies gain more opportunities to grow, and the entire market operates more efficiently.
What is needed to build growth?
Building growth requires that the recycling of growth capital works throughout the company lifecycle. Finland needs solutions that strengthen fundraising, investment, long-term ownership, and growth generated by capital recycling.
The Finnish Venture Capital Association proposes six solutions to accelerate Finland’s growth:
Remove structural barriers to international fundraising for Finnish private equity and venture capital funds
Finland must be a competitive and predictable location for funds and international capital. Fund structures, taxation, and administrative practices must allow Finnish funds to raise capital internationally as smoothly as in competing countries.
Enable the effective use of domestic anchor capital to scale funds internationally
Domestic investors — such as pension institutions, foundations, and companies — must be able to invest in Finnish funds without unnecessary barriers. Stronger domestic anchor capital helps funds grow, increases financing for companies, and makes it easier to attract international investors.
Ensure predictable and proportionate authority actions to support growth and investment
Permits, interpretations, and processes required by companies and investors must be handled quickly, predictably, and at a competitive level internationally. Decision-making should systematically evaluate impacts on growth, investment, employment, and Finland’s competitiveness.
Remove tax barriers to investment, corporate transactions, and ownership development
Taxation should support long-term ownership, investment, and the reinvestment of capital. Finland needs a tax system that does not create unnecessary thresholds for company growth, ownership arrangements, or efficient capital recycling.
Clarify and stabilize the state’s role in the private capital market
The state’s role is to complement the market and mobilize private capital where market gaps exist. The state should not replace market-based activity, crowd out private capital, or act in ways that increase uncertainty in capital markets.
Ensure smooth and predictable M&A and IPO markets
Functioning exit markets are essential for releasing capital and expertise into new growth companies. The M&A and listing environment must be smooth, predictable, and internationally competitive.