Inventure Fund III holds first close on €110m

The vehicle is the third fund raised by Inventure that focuses on early-stage technology in Finland, the Nordic region and the Baltic countries. Fundraising is planned to continue throughout 2018 towards the target size of €135m.

Inventure Fund I, an early-stage venture capital fund launched in 2008, held a final close at €42m in January 2009. The VC firm started pre-marketing Inventure Fund II towards the end of 2012 and held a first close for it in January 2014 on €50m. Inventure also has two smaller seed funds and one secondary fund.

Inventure operates in Helsinki and Shanghai and focuses on early-stage investments in the devices, electronics and components sector, as well as in the mobile internet and software industries.

Investors
The fund attracted commitments from institutional investors, pension funds and funds-of-funds. LPs include the European Investment Fund, Finnish Industry Investment (Tesi), Elo, Ilmarinen, Nordea Life Finland and several private investors.

Investments
Inventure invests in technology startups at the seed and early stages, as well as high-tech companies in Finland, the Nordic countries and the Baltic region. 

With its previous vehicles, Inventure typically invests in around 20 high-tech companies in Finland, Scandinavia and the Baltic countries per fund, with a long-term strategy of focusing on hardware.

The VC firm usually takes stakes of up to 20% but will typically secure 10-15% holdings with tickets of €1-2m.

People
Inventure – Sami Lampinen (managing partner).

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