World needs science, entrepreneurship and innovation. Voima Ventures was founded in 2019 because we felt that there was a significant gap in the funding of early stage science-based innovations and a lack of deep tech oriented VC investors, especially in the Nordics.
Our mission is to solve global problems by catalyzing science-driven innovations with the Nordic serial entrepreneurial expertise, a global mindset and value-adding capital, while bringing the scientific community closer to investors.
Voima Ventures Fund II Ky is managed by Voima Ventures Oy. Voima Ventures Oy furthermore manages Voima Ventures Fund I Ky comprising of spinoff companies originating from VTT, which is fully owned by VTT Technical Research Centre of Finland. Voima Ventures Oy is owned by the Voima Ventures managing team.
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Our Managing Partner Inka Mero will answer to inquiries by media. Reach her at inka.mero(at)voimaventures.com or +358 45 121 4394.
Having its origins in the Technical Research Centre in Finland (VTT), Voima Ventures currently manages two funds:
- Voima Ventures Fund I: VTT Ventures’ portfolio and
- Voima Ventures Fund IIKy: a new fund launched last year. Of these two, Voima Ventures Fund II is the one we are currently actively making investments from.
Voima Ventures Fund I investment period ended Q1/2019)
- Size: 20 MEUR
- Number of investments: 19
Voima Ventures Fund II Ky (investment period started Q2/2019)
- Size: 40 MEUR
- Number of investments: 6
Fund I is fully (100%) owned by VTT Technical Research Centre of Finland.
Our cornerstone investors in Fund II are the Technical Research Centre of Finland (VTT), European Investment Fund (EIF) and selected Finnish private and institutional investors. We are currently making investments from Fund II.
Voima Ventures Fund II Ky:
- Public sector: 50 %
- Family offices 12%
- Private sector 38%
- Geographical distribution
- Finland: 43 %
- Elsewhere in Europe: 57 %
We adhere to the IPEV (International Private Equity and Venture Capital Valuation) guidelines in valuation and follow InvestEurope’s industry standard in investor reporting.
Voima Ventures’ purpose is to solve big global problems through combining science, entrepreneurship and capital. These problems relate to the future of our planet, societies and people. Hence we hold responsibility, equality and sustainably in high regard, and strive to carefully weigh them in every decision we make. We acknowledge that the VC and technology industries still have a long way to go and thus we want to be a part of and encourage this positive change.
When making investment decisions, we follow the Finnish Venture Capital Association’s guidelines and our own responsible investment policy that incorporates ESG principles.
Voima Ventures is a fully registered AIFM (Alternative Investment Fund Manager) investor.
If you would like to know more about AIFMs visit the Finnish Financial Supervisory Authority’s site.
Voima Ventures does not consider adverse impacts of investment decisions on sustainability factors at the moment within the meaning of Article 4(1)(a) of the EU Regulation on Sustainability‐Related Disclosures in the Financial Services Sector (2019/2088). The reasons for not considering the adverse impacts are that taking in account our size, the nature and scale of our activities and the types of financial products we make available, our adverse impact is likely to be very small or not measurable, and the fact that there is a lot of uncertainty surrounding the content of the obligation set out in Article 4(1)(a) of the EU regulation (2019/2088). Therefore, we have resolved to act pursuant to Article 4(1)(b) of the EU regulation (2019/2088) instead of Article 4(1)(a) for the time being.
We reserve the opportunity to consider adverse sustainability impacts of investment decisions after the Regulatory Technical Standards of the EU regulation 2019/2088 are in force and further information on the substantial requirements is available.
We intend to create due diligence processes and consider adverse sustainability impacts in our future funds.
ESG and sustainability risks & principles regarding the investment process and investment related decision making in Voima Ventures
Voima Ventures takes ESG and sustainability risks into consideration at every stage of the investment process. Sustainability risks mean risks related to the environment, corporate social responsibility and governance, that can have adverse, material effects on the value of our investments.
In more detail, Voima Ventures divides the sustainability risks in the following categories:
Eg. Climate change, biodiversity, plastic use, pollution, energy efficiency etc.
Corporate social responsibility
Eg. Human rights, employee satisfaction, workplace diversity, workplace safety, work conditions etc.
Eg. Cybersecurity, business ethics, non existent board governance, management incentives, corruption, management ESG capabilities etc.
At the selection phase each partner and employee of Voima Ventures estimates the relevant ESG risks that a case might have before bringing the case to an internal deal flow meeting. Voima Ventures aims to select only companies with sustainable development, environmentally positive impact and sound business practices.
In the investment phase, potential ESG risks are mapped out and recorded into the investment memorandum. This includes the best possible estimation of the effect the risks might have on the value of the investment. If the case advances, further risk management and mitigative actions might be required in the investment offer or term sheet.
ESG and sustainability risks are tracked firstly by any members of the board of directors and board observers that Voima Ventures might place. ESG and sustainability risks and issues arising from these risks are tracked on the quarterly portfolio updates given by the portfolio companies. Furthermore, ESG and sustainability risks are always evaluated before the fund participates in follow-up rounds of financing into the portfolio companies.
Voima Ventures is a proud member of the Finnish Venture Capital Association and follows their guidelines on responsible and transparent investing.