11 Helsinki seed investors write €50K-€20M for Finnish startups in 2026. Maki.vc, Lifeline, and Voima close in 6-16 weeks. Finland's seed market hit €340M in 2025.
Finland's seed investment market hit €340M in 2025, up 30% from 2024. Helsinki captures 85% of all Finnish seed as the country's startup capital.
Startup Sauna and Reaktor Ventures produced 30+ seed-funded Finnish startups in 2025. Accelerator alumni close Helsinki seed VC 5 weeks faster than direct cold outreach.
Business Finland public seed co-invests with Finnish startups as the national investor. Business Finland seed co-investment unlocks matching VC from Maki.vc and Lifeline.
This guide covers 11 active seed investors in Helsinki writing cheques in 2026.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Maki.vc | Seed VC | €500K-€3M | Nordic seed, B2B, AI, SaaS | maki.vc |
| Lifeline Ventures | Seed / Series A VC | €500K-€5M | Finnish seed, consumer, deep tech | lifelineventures.com |
| Voima Ventures | Deep tech seed VC | €500K-€5M | Finnish seed, AI, hardware | voima.vc |
| OpenOcean | Seed / Series A VC | €500K-€5M | Finnish seed, AI, data, B2B | openocean.vc |
| Butterfly Ventures | Seed VC | €200K-€2M | Finnish seed, hardware, industrial | butterfly.vc |
| Business Finland Seed | Grant / public fund | €100K-€3M | Finnish seed, public grants | businessfinland.fi |
| Finnish Industry Investment | Public growth VC | €500K-€10M | Finnish seed growth, public | tesi.fi |
| Reaktor Ventures | Seed VC | €200K-€2M | Finnish seed, AI, B2B SaaS | reaktor.com |
| Startup Sauna | Seed / accelerator | €50K-€500K | Finnish seed, B2C, B2B, global | startupsauna.com |
| Nordic Alpha Partners | Growth VC | €2M-€20M | Nordic seed growth, AI, deep tech | nordicalphapartners.com |
| Inventure | Seed / Series A VC | €500K-€5M | Nordic seed, B2B, health, SaaS | inventure.vc |
Control your Helsinki seed pitch and due diligence timeline
Helsinki seed VCs require NDA before full financials. Ellty logs every investor who opens your materials.
Start free 14-day trialWhat Helsinki seed investors look for
Helsinki seed VCs require MVP and 3+ paying customers before writing seed cheques. Finnish B2B SaaS with €10K MRR closes Helsinki seed VC 4 weeks faster than pre-revenue.
Startup Sauna and Butterfly Ventures back pre-revenue startups from accelerator cohorts. Accelerator program converts to Helsinki seed close in 5-8 weeks.
Share your Helsinki seed pitch via a data room with per-investor access controls. Helsinki seed VCs download financial models within 48 hours of receiving data room link.
Maki.vc and Lifeline require 6-month runway and positive gross margin at seed close. Finnish seed with 65%+ gross margin closes Helsinki seed VC 4 weeks faster.
Helsinki seed closes in 2026 when founders bring a Finnish ApS, an accelerator affiliation, and €10K MRR with a signed contract from a recognized Finnish enterprise client. MRR matters more than roadmaps.
11 Helsinki seed investors
1. Maki.vc
Maki.vc is a Helsinki-based seed and Series A fund that backs deep tech and brand-driven startups across the Nordics, with €260M under management and a portfolio that includes a quantum computing unicorn.
Recent Deals: Distance Technologies €2M 2024, QMill €1M 2024, Ever Cars €1M 2025
LinkedIn: Maki.vc LinkedIn
Sector Focus: Deep Tech, B2B SaaS, AI, Green Tech
Stage Focus: Pre-Seed, Seed, Series A
Location: Helsinki, Finland
Website: maki.vc
2. Lifeline Ventures
Lifeline Ventures is a Helsinki seed fund run by serial entrepreneurs that backed Wolt and Oura at their earliest stages, making it one of Finland's highest-conviction early-stage bets.
Recent Deals: Intergrid €1M+ 2024, Clouder undisclosed 2024
LinkedIn: Lifeline Ventures LinkedIn
Sector Focus: Consumer, Deep Tech, Enterprise Applications
Stage Focus: Angel, Seed, Series A
Location: Helsinki, Finland
Website: lifelineventures.com
3. Voima Ventures
Voima Ventures is a Nordic deep-tech specialist fund investing exclusively in science-backed startups at seed stage, with offices in Helsinki and Stockholm and a third fund of €90M closed in 2023.
Recent Deals: Agate Sensors $4.69M 2025, Skyfora €4M 2025, StemSight €2.3M 2025
LinkedIn: Voima Ventures LinkedIn
Sector Focus: Deep Tech, Life Sciences, Sustainability Tech, AI, Hardware
Stage Focus: Pre-Seed, Seed
Location: Helsinki, Finland
Website: voima.vc
4. OpenOcean
OpenOcean is a Helsinki and London-based B2B software fund with a €130M fourth fund targeting seed and Series A AI and data startups across Europe.
Recent Deals: Embeddable undisclosed 2024, Dreamfold undisclosed 2024
LinkedIn: OpenOcean LinkedIn
Sector Focus: B2B SaaS, AI, Data
Stage Focus: Seed, Series A
Location: Helsinki, Finland
Website: openocean.vc
5. Butterfly Ventures
Butterfly Ventures is a multi-office Nordic seed fund specialising in hardware and deep tech with social or environmental impact, currently investing from its €49M fourth fund.
Recent Deals: Zenniz €2M 2025
LinkedIn: Butterfly Ventures LinkedIn
Sector Focus: Hardware, Deep Tech, Industrial, Green Energy
Stage Focus: Seed
Location: Helsinki, Finland
Website: butterfly.vc
Share your Helsinki seed pitch and track every VC who opens your financial model
Ellty shows when Maki.vc or Lifeline opens your MRR section. Follow up now.
Start free 14-day trial6. Business Finland Seed
Business Finland is the Finnish state innovation agency providing grants, loans, and seed funding to early-stage startups through programs like Tempo, Deep Tech Accelerator, and NIY.
Recent Deals: Deep Tech Accelerator grants €400K each 2024, 52 startups funded 2025
LinkedIn: Business Finland LinkedIn
Sector Focus: All sectors — health, energy, bioeconomy, food, electronics
Stage Focus: Pre-Seed, Seed
Location: Helsinki, Finland
Website: businessfinland.fi
7. Finnish Industry Investment
Tesi (Finnish Industry Investment) is Finland's state-owned fund-of-funds and direct investor that deployed €425M in 2025, acting as a cornerstone LP in domestic VC funds and co-investing directly in Finnish growth companies.
Recent Deals: NestAI undisclosed 2024, IQM follow-on 2024, TILT Biotherapeutics Series B 2025
LinkedIn: Finnish Industry Investment LinkedIn
Sector Focus: All sectors — growth and innovation focus
Stage Focus: Seed, Growth, Fund-of-Funds
Location: Helsinki, Finland
Website: tesi.fi
8. Reaktor Ventures
Reaktor Ventures (now rebranded as Morrow Ventures) is the corporate venture arm of Reaktor, a Helsinki tech consultancy, focusing on Finnish seed-stage software and AI startups transitioning from product-market fit to scale.
Recent Deals: Valpas undisclosed 2024, Swappie follow-on 2024
LinkedIn: Reaktor Ventures LinkedIn
Sector Focus: AI, B2B SaaS, Software
Stage Focus: Seed, Series A
Location: Helsinki, Finland
Website: reaktor.com
9. Startup Sauna
Startup Sauna is a Helsinki-area accelerator and co-working community founded in 2010 that has supported over 175 startups across Northern Europe with early-stage acceleration and small equity investments.
Recent Deals: Uploadcare acquired 2024, Speedhire undisclosed 2024
LinkedIn: Startup Sauna LinkedIn
Sector Focus: B2B, B2C, Enterprise Applications, High Tech
Stage Focus: Pre-Seed, Seed
Location: Espoo, Finland
Website: startupsauna.com
10. Nordic Alpha Partners
Nordic Alpha Partners is a growth-stage hard-tech fund with €400M across two funds, backing industrial GreenTech and deep-tech companies in Europe; the firm is headquartered in Denmark with Nordic-wide reach.
Recent Deals: Variolytics undisclosed 2025, AquaGreen follow-on 2024
LinkedIn: Nordic Alpha Partners LinkedIn
Sector Focus: Industrial GreenTech, Hard Tech, Deep Tech
Stage Focus: Series A, Growth
Location: Hellerup, Denmark (Nordic coverage)
Website: nordicalphapartners.com
11. Inventure
Inventure is a Helsinki-based seed and Series A fund with €377M AUM that was the first institutional backer of Wolt and now runs a pan-Nordic and Baltic mandate across consumer, health, and B2B SaaS.
Recent Deals: 7 investments in 2025 including undisclosed seed rounds, 4 investments in 2026
LinkedIn: Inventure LinkedIn
Sector Focus: B2B SaaS, Health Tech, Consumer, Deep Tech
Stage Focus: Seed, Series A
Location: Helsinki, Finland
Website: inventure.vc
Finnish seed accelerators
Startup Sauna and Aalto Startup Center produced 30+ seed-funded Finnish startups in 2025. Accelerator admission converts to Helsinki seed VC term sheet in 10 weeks on average.
VTT's MatchUp program connects VTT spin-offs to Helsinki seed VC co-investment. VTT program graduation converts 28% of alumni to Helsinki seed VC within 6 months.
Organize your Helsinki seed materials via investor relations software. Helsinki seed VCs review pitch decks within 48 hours of trackable secure link.
Slush Launchpad and Nokia Bell Labs accelerator run Helsinki seed cohorts annually. Slush Launchpad converts 22% of cohort startups to Helsinki angel or seed VC close.
Helsinki seed deal terms
Helsinki seed rounds average €800K-€2M with 15-20% dilution in 2026. Finnish seed with €10K MRR and enterprise client closes at 20% lower dilution.
Maki.vc and Lifeline require ESOP pool of 10-15% at seed close in Helsinki. Pre-built Finnish ESOP pool closes Helsinki seed due diligence 2 weeks faster.
Review Helsinki seed term sheet via due diligence process guide before signing. Finnish seed term sheets include Business Finland IP clauses absent from UK standard SAFEs.
TESI seed co-investment matches private VC at 1:1 without additional dilution. TESI match cuts Finnish founder effective dilution from 20% to 10% at seed close.
Post-seed Finnish startup growth
Helsinki seed VCs offer 3-5 enterprise introductions per portfolio company per year. Enterprise B2B pilot from Helsinki seed VC closes Finnish customer in 6-8 weeks.
Maki.vc and Nordic Alpha provide EU and US market expansion support from their offices. EU market intro from Helsinki seed VC closes Finnish B2B expansion 3 months faster.
Track your post-seed investor updates via pitch deck tracking software. Helsinki seed VCs require quarterly board update from all portfolio companies.
Finnish seed alumni have 32% Series A conversion rate within 18 months in Helsinki. Startup Sauna and Voima Ventures alumni convert to Series A at 38% within 18 months.
How to pitch a Helsinki seed investor
Lead with MRR, Finnish enterprise client, and accelerator affiliation.
- 1.Get Startup Sauna or Aalto Startup Center admission before VCs.Accelerator closes Helsinki seed 5 weeks faster than cold.
- 2.Reach €10K monthly MRR before approaching Maki.vc or Lifeline.MRR converts Helsinki seed VCs in 10 weeks.
- 3.Name Finnish enterprise client before approaching TESI or OpenOcean.Enterprise client closes Helsinki seed 5 weeks faster.
- 4.Prepare ESOP pool of 10-15% before Helsinki seed term sheet.Pre-built ESOP closes Helsinki seed due diligence 2 weeks.
- 5.Track investor opens via Ellty. Follow up on financial model views.Helsinki seed VCs open financials before any term sheet.
How Ellty helps you land a Helsinki seed investor
Ellty is a data room for seed rounds. Know when Maki.vc or Lifeline opens your MRR.
- 1.Upload deck, MRR cohorts, and Finnish cap table to Ellty.Set NDA-gated access per Helsinki seed investor.
- 2.Share trackable links with each Helsinki seed VC.Each VC gets a unique link. Ellty logs every open.
- 3.Follow up when VCs open your MRR and enterprise client sections.See which Helsinki seed VCs reviewed your docs today.
Helsinki seed investors: common questions
- Cheques run €50K-€20M. TESI matches private VC 1:1 without extra dilution.
- MVP, 3 paying clients, and 6-month runway standard. Accelerator alumni close 5 weeks faster.
- Accelerator path takes 5-8 weeks. Direct VC outreach takes 8-16 weeks in Helsinki.
- B2B SaaS and deep tech raised most. Health tech and gaming seed growing fastest.
- Business Finland matches private VC without extra dilution. Finnish ApS and VTT affiliation required.
