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Venture Capital In Finland In 2010
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This time, we're digging into the state of the venture capital industry in Finland. I again, turned to Artturi Tarjanne for some research data on the situation. Overall in Finland, 97 million euros worth of venture capital investments were made. This is little over 4% increase from 2009 when 93 million euros worth of VC investments saw day light.
Figures like these may seem impressive for such a small ecosystem. However, the turn of the millenium puts things into perspective. In 2000 and 2001 154 million euros and 175 million euros, respectively, of venture capital investments were made. Actually, 2008 was clearly the best year in terms of financing for young companies in the recent years.
Overall, 150 Finnish companies received venture capital money in 2010. In 2009, the figure was 167. In 2010 the average venture capital investment was 650 000 euros. This is still very low in international standards, but the figure is growing. In 2009 the average investment was 550 000 euros.
The distribution of investments by investment stage can be summed up in the following way. Seed stage companies received 10 million euros (55 transactions), start-ups received 56 million euros (161 transactions) and later stage companies received 31 million euros (32 transactions).
If we look at the funding per stage, at seed stage companies received on average approximately 180 000 euros per transaction. At the startup stage this has almost doubled to 350 000 euros where as the later stage companies on average received approximately 970 000 euros per investment.
Another noteworthy item to state is the amount of capital available by Finnish venture capital companies. At the moment, this figure stands at 176 million euros. About half of this is reserved for follow on investments and the other half is avaialble for new portfolio companies (84 million euros).
These figures are based on the studies available to the members of the Finnish Venture Capital Association. These figures don't include capital available for growth financing or M&A acquisitions. In total, the capital available for venture capital, growth financing and M&A activities are in the billions of euros.
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