Industry Investment and FoF Growth invest in new early-stage Conor Technology Fund II

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Conor Venture Partners, a leading Finnish early-stage technology VC, today announced the 46.5 million euro first closing of its second early-stage venture capital fund.

Conor Technology Fund II investors at first closing include the European Investment Fund, Finnish Industry Investment, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company, Atine Investment Partners, and FoF Growth managed by Finnish Industry Investment and bringing in several major Finnish investors.

Operating from Finland and following in the footsteps of Conor’s first fund, the new fund will invest in early-stage technology centric companies rooted in the Nordics and Baltics.

“While working on final closing of the new fund by the end of the year, we look forward to continue investing in great Nordic and Baltic companies such as Imbera, Supponor, and Eniram in our first fund. The technology focus of the new fund remains unchanged, while its geographic reach will be slightly wider. We are looking for world class initiatives to be grown into global success stories. The strong initial investor pool gives wide grounding to build it up to final closing”, said Mr. Jari Mieskonen, Managing Partner at Conor Venture Partners.

“We are delighted to have a new and large-enough early-stage technology fund in Finland. The new incubation system will provide it with good potential investment targets”, comments Investment Director Riitta Jääskeläinenat Finnish Industry Investment.

“Conor is an established venture capital fund manager and we look forward to starting co-operation with Conor, with potential to develop and commercialise young companies successfully,” said Mr Esko Torsti, Chairman of the Investment Committee of FoF Growth and Director at Ilmarinen Mutual Pension Insurance Company.

The European Investment Fund investment fulfils the objective of the EU Competitiveness and Innovation Framework Programme by encouraging the development of entrepreneurship and innovation in the region.

Conor Venture Partners is a leading early-stage technology VC investing in Finland, Sweden and the Baltics. With 70 million euros under management Conor invests in disruptive technologies in ICT, embedded systems, electronics, new materials and optics. The Conor portfolio includes companies such as Aito Technologies, Neo Technology, Imbera Electronics, and Supponor Systems.


Finnish Industry Investment Ltd is a government-owned investment company that promotes Finnish businesses, employment and economic growth through capital investment. The company invests in growth companies, directly and through funds, together with private co-investors. Capital investments are needed for financing the growth of portfolio companies, internationalisation, spin-offs, major industrial investments, and sectoral and corporate restructurings. The targets are in all sectors. The investments of Finnish Industry Investment amount to over MEUR 640.

For further information, please contact:

Managing Partner Jari Mieskonen, Conor Venture Partners
Tel. +358 50 563 6992, e-mail: jari.mieskonen (at)

Investment Director Riitta Jääskeläinen, Finnish Industry Investment
Tel. +358 50 309 2733, e-mail: riitta.jaaskelainen (at)