Creandum III - international capital to Finland
Finnish Industry Investment has invested in Creandum in order to attract international venture capital to Finland. Before the most recent commitment of 7.5 million euros in May 2012 to the Creandum III fund, Finnish Industry Investment had invested in Creandum some five years ago.
“We have concluded we should also work with international teams that are active in the Finnish market,” notes Anne Riekki, Director for Fund Investments at Industry Investment. “We want to encourage them to be active in Finland and remain here, bringing new capital into the country.”
Creandum continues to focus on the information technology industry. They look for opportunities in consumer services, software and hardware.
“The deal flow in Finland is now stronger than ever, and we have actually upgraded our forecast for Finland because of it,” says Staffan Helgesson, General Partner at Creandum. “The funds we advise have made two new investments already this year, and one of them is in Finland.”
In addition to capital, Creandum brings a much needed international perspective for young Finnish companies. With a roster of strong contacts from around the world, Creandum can help companies get over the initial hurdles of the start-up phase.
“The Creandum funds always make investments with a local co-investor,” says Helgesson. “This gives Creandum the advantage of having someone on the ground nearby at all times. The insights of a local coinvestor also help to ensure that Creandum funds are making wise investments.”
Creandum is on good friendly terms with a number of local venture capitalists in Finland. “Finnish Industry Investment has been a great partner,” Hegelsson says. “We truly appreciate their unique long-term perspective. They have a lot of experience and understand building great companies takes time. When you can position yourself for the long term, you will also be there to reap the rewards,” he emphasises.