Industry Investment invests MEUR 7.5 in new early-stage Northzone VI fund

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Government-owned investment company Finnish Industry Investment Ltd has made a MEUR 7.5 investment commitment to a new Northzone Ventures fund that focuses on Nordic early-stage technology investments. The Northzone VI fund, which invests in fast-growing and internationalising technology companies, raised MEUR 90 from Nordic and international institutional investors. The fund’s final target size is MEUR 150.

Northzone plans to expand its investment operations in Finland, where the company believes a large part of the Nordic venture capital market is located.

“Although this is great news for the venture capital market, we don’t claim that the crisis is over yet. However, stellar entrepreneurs will always battle through the hard times ahead and find financing,” comments Northzone’s Partner Tellef Thorleifsson.

“Northzone offers technology companies experience and an effective network. The company also has a proven ability in helping companies to launch unique technologies in international markets. Alongside conventional IT and Internet investments, Northzone has gained experience in innovative clean tech and energy sector companies. We will be pleased to see Northzone helping Finnish growth companies,” says Investment Director Anne Riekki from Industry Investment.

Northzone was established in 1996 and has raised a total of EUR 445 million in six funds to date. The company has offices in Oslo, Stockholm and Copenhagen and has invested in more than 70 companies since its inception. Northzone is lead investor in high profile growth companies such as Spotify, EPiServer, Nimsoft, Tobii, Napatech and Innotech Solar. Up until now Northzone has invested in two Finnish technology companies: Imbera Electronics Ltd and Supponor Ltd.

Finnish Industry Investment Ltd
is a government-owned investment company whose mission is to promote and stimulate Finnish business, employment and economic growth through capital investment. Finnish Industry Investment invests in growth companies, directly and through funds, together with private co-investors. Capital investments are needed for financing the growth of investee companies, internationalisation, spin-offs, major industrial investments, and sector and corporate restructurings. The targets are in all sectors. The investments of Finnish Industry Investment amount to some MEUR 620.

More information:

Tellef Torleifsson, Partner, Northzone Ventures,
tel. +47 913 22541, tellef (at)

Anne Riekki, Investment Director, Finnish Industry Investment Ltd,
mobile +358 50 337 4434, anne.riekki (at)