Skip to content

Our target funds provide equity capital to start-ups

With equity capital provided by our target funds, start-up companies can execute their growth plans.


Business Finland Venture Capital Ltd (BFVC) is collaborating with venture capital funds and business angels to contribute to the growth and development of the early stage companies and the Finnish venture capital industry.

We use our know-how and invest our time and capital to help new venture capital fund management companies and funds to enter the market as well as support our investee funds' management companies to further advance their businesses.

Business angels can benefit from the capital provided by European Investment Fund and BFVC through EAF Finland to invest alongside with business angels in innovative early stage companies.

For whom?

BFVC selects venture capital funds managed by private management companies with proven track record of success in entrepreneurial, commercial or investment operations. BFVC expects that the key persons of the management company regard the fund management business as a long-term business to stay in.

The selected funds invest in start-up companies with high growth potential.

If you are a start-up looking for equity investment, please note that this programme is about helping to establish funds.

Contact us

For more information please contact the personnel of Business Finland Venture Capital Ltd.

Contact information for Venture Capital


The shares of BFVC are fully owned by the Republic of Finland and it is supervised by Innovation Funding Agency Business Finland. The board of directors of BFVC is responsible for making the investment decisions in funds.

The company's goal is to create a versatile and sustainable venture capital market in Finland. Efficient venture capital market will enable young companies to grow and develop quickly. This will create a foundation for higher productivity in the national economy, the renewal of trade and industry structures, more jobs, and greater national competitiveness.

BFVC's investee funds' management companies seek the highest possible profit for their funds' investors. To enhance the early-stage venture capital market's development and encourage private investors to commit in higher-risk early-stage funds BFVC can accept an asymmetric profit-sharing for the benefit of an investee fund's private investors. An asymmetric profit-sharing is a case-by-case decision from BFVC and stated in the fund agreement. With asymmetry the fund's private investors may receive a higher share of the fund's profits than their proportional holdings in the fund suggest.



The principles for responsible investing reflect the values of the fund's management company and should be in written form and embedded in the investment and portfolio management processes as well as the management company's internal processes.

Within the management company there should be a senior level person responsible for the responsible investment matters. Investee fund's limited partner advisory committee reviews regularly the implementation of the responsible investment policy.

Furthermore, BFVC expects that the funds will not invest in companies in weapons, alcohol, pornography, tobacco or gambling industries nor in companies conducting illegal activities or companies which the management company or the general partner of the fund determine to operate unethically.

BFVC respects and expects that the management companies of the funds respect the human rights and recognize their importance and universality.

BFVC is a Finnish limited liability company paying its taxes in Finland. BFVC does not accept aggressive tax planning in the funds or their management companies. BFVC expects that the investee companies of the funds do not use aggressive tax planning either and pay their income taxes to the country where the value of the business is created.

BFVC conducts its business professionally and ethically and treats fairly with its investee funds and their management companies.