Finnish venture capital firm Innovestor has launched a new Life Science & Health fund focusing on early-stage opportunities in the Nordic and Baltic countries. The fund has completed a first closing of € 60 million and aims to increase its capital to 90-120 million euros within 12 months. State-backed Finnish Industry Investment (Tesi) acts as anchor investor in the fund.
The new fund aims to find the next billion dollar innovations from universities and strong research-based companies. A team of accomplished professionals from the sector – Mr Pekka Simula and Dr Milla Koistinaho – is responsible for fund investments.
The fund is the first in Finland in over ten years that focuses solely on life sciences. At the same time, the Nordic and Baltic region has world-leading innovation capacity and scientific know-how in the field. “Through our new fund, we can support the commercialization of innovations and bring breakthrough science to market for the larger benefit of the society. We believe in doing well while doing good. Another important aspect is being able to support early-stage research teams to obtain international funding, which will be needed as the projects mature,”says Wilhelm Lindholm, CEO of Innovestor.