Veraventure, the government owned venture capital company that works with early stage Finnish companies, has recently become more transparent regarding its investment activities. This is a very good sign and should be carefully noted by venture capitalists and other seed investors not already doing so. With the renewal of Veraventure’s new website, one is now able to go through all the investments Veraventure has made.
Transparency was one of the key issues in our coverage regarding the Vigo accelerator program and I’m excited to see Veraventure being open in this way. Another point that I remember being raised in Mindtrek 2009 was a question for Veraventure why they haven’t done a lot of investments into the area of web services. Looking at the list of companies they have invested in, there are quite a few of those there.
Not only is it important with government owned companies to have this kind of transparency, but I’d really love to see this spread to other venture capitalists who don’t show their investments this openly. While there are a few cases when being open about your investments isn’t smart, but usually there are no reasons not to show the companies one has invested in. Why? The simple spillover effect, that startups are more talked about and also the investments themselves. We really need more transparency and talk about startups here in the Nordics and Baltics.