New Finland-headquartered VC firm Voima Ventures has announced a multi-stage fund to invest in deep-tech startups across the Nordics and Baltics. The founders, Inka Mero and Mikko Kumpulainen, say that the fund has €40 million committed and target a final closing of €50 million.
Voima Ventures plans to make 25 to 30 investments from the fund, ranging from seed and pre-seed rounds of €150,000 to €500,000 to Series A and B of up to €2 million. The focus areas include “bio and new materials, medical technologies and life sciences, imaging and optics, IoT and electronics, robotics, software and ICT, and AI,” the firm stated in a press release.
Voima Ventures’ cornerstone investors are VTT Technical Research Centre of Finland and the European Investment Fund (EIF). The firm plans to work closely with the scientific community in the Nordics, starting with its strategic partner and investor VTT.