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 smart capital for growth companies
Finland needs more smart capital for companies at all stages of growth. Finnish private equity and venture capital funds must be able to grow to an international scale so that they can provide financing to companies further along their growth journey in Finland.
This requires a broad domestic and international investor base, competitive fund structures and a predictable tax environment. By removing barriers to fundraising, Finnish companies will have access to more growth capital, while Finland will benefit from more high-value expertise, specialist jobs and tax revenues.
Finland must be an attractive location for funds, investments and expertise. If Finnish funds cannot grow to the scale of their peers in competing countries, companies will increasingly seek financing from abroad and ownership will move outside Finland too early in their growth journey.
We need a predictable and growth-supportive 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 regulation that is more burdensome than in competing countries.
Public authorities should operate swiftly, proportionately and predictably. Decision-making should systematically take into account the impact on growth, investments and employment. Finland’s competitiveness will be strengthened when EU regulation is implemented without additional national regulation and when companies can trust that the rules of the game remain consistent across government terms.
A growth-supportive operating environment is not only in the interest of companies. It is in the interest of Finland as a whole, as investments, jobs and tax revenues are generated where the operating environment is stable, understandable and competitive.
We need taxation that supports ownership and company growth
Long-term ownership requires a tax system that supports investment, business development and the reinvestment of capital. The growth of companies, changes in ownership and the circulation of capital should not be hindered by tax uncertainty.
Finland must ensure that investments, corporate transactions and growth financing are tax-predictable and competitive compared with other countries. When developing ownership is straightforward, companies can grow for longer in Finland, create more jobs and build a stronger domestic ownership base.
A growth-oriented economy needs a tax system that does not penalise renewal, changes in ownership or long-term investment. The quality and active nature of ownership, as well as the ability to build and develop companies, are key to 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 can flow into new growth companies only when M&A and IPO markets operate smoothly and predictably.
Merger control, IPO processes and administrative practices must be at the level of Finland’s peers in competing countries. At the same time, the role of the state in the capital markets must be clear and stable: the state’s role is to complement the market where market failures require it, not to crowd out private capital or change the rules of the game in a short-sighted manner.
When exit markets function well and the role of the state is predictable, capital is released for new investments, companies have more options for growth and the market as a whole 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:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.