Finnish venture capital firm Innovestor has launched a new Health and Life Science fund, with such anchor investors backing the launch as Wihuri Foundation, The Finnish Cultural Foundation and Tesi (Finnish Industry Investment). A team of highly experienced professionals in the sector operate the fund, including its partners Milla Koistinaho, a docent in neurobiology, and Pekka Simula, a seasoned veteran with CEO and founder background from pharmaceutical businesses.
The new fund focuses on companies with a background in university innovations and a strong research-base. The fund has completed a first closing of EUR 60 million, and Innovestor aims to increase its capital to EUR 90-120 million within the next 12 months. The fund charts early-stage opportunities in the Nordic and Baltic countries.
“For many years, there has been an obvious need for a domestic, specialized fund like this; creating it will significantly complement funding offer for life sciences. The fund is a great response to the market needs with both its investment strategy and team expertise,” says Petteri Laakso, Investment Director at Tesi.
Petteri Laakso, Investment Director, Fund Investments
+358 50 463 9313
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII