Tattletech has a story on a new 150 million euro fund to be launched in Finland during Q2 of 2011. According to the article, there are three individuals behind the initiative – 2 telco pioneers and a Finn working in the European Investment Bank. I got in touch with the people behind the article and they confirmed this, working in PR, but were unable to give out anymore information just yet.
The blog entry on Tattletech puts a lot of emphasis on the experience of the individuals in this venture, stating them heavyweights in the industry multiple times. Despite leaking this small update, there isn’t a lot of information to be found on this potential new fund.
The entry goes on to explain that the three individuals are taking matters into their own hands and “putting Finland squarely on the map where it belongs”. One of the three founders stated that the fund is going to be looking for extreme innovation with long term commercial appeal in cleantech, ICT and life sciences.
If such a fund would begin operations in Finland next spring, it would surely bring a lot of healthy competition to the market in the form of enabling a lot of liquidity for the early stage financing of startups. While this is very early on and we cannot confirm any of this ourselves, it sounds extremely interesting.