M&M Growth Partners

They do VC tickets of €100k-500k, and growth tickets €200k-5M. They invest only in software with an emphasis on B2B and deep tech. Traction and sales are required, preference for over €500k ARR.

Preferred contact point is contact@mmgp.fi.

GrayBella Capital

GrayBella Capital is a pan-European venture capital fund investing in healthcare and complex technology fast growth companies. They invest €2-7M in trenches and welcome other investors on board.

Their goal is to help companies scale internationally while keeping core operations locally in their primary market.

They have a preference for B2B. Their especial focus is on bioinformatics, genomics and other areas where health meets IT. Clinical trials are out of their scope.

Earth Capital

Doing sustainability and impact investing: mobility, food and agriculture, energy (renewable, efficiency, storage), water, waste etc. Looking for indications of repeat demand.

Looking for defensible market positions. Technology is not necessary, if the position of the company is otherwise strategically defensible.

Investing globally with a focus on Europe. Also investing actively in Africa and Asia.

Focus on B2B across all their funds.

Prefer to lead or co-invest. Prefer to take a board seat.


Sparkmind.vc is the first Nordic venture capital company focused on the learning sector. They invest in teams transforming early childhood, K12, higher, secondary and vocational education as well as corporate and lifelong learning. Their geographical home field is Europe, especially North Europe, but they also selectively do investments outside the region.

They often join the boards of their portfolio companies.


Innovestor offers co-investing (syndicate forming) as a service. They also do solo investments.

Prefer B2B, but open to any business types. Drug development is not currently interesting for them, but digital health and medical technology is.

Funding applications can be filled at https://innovestorgroup.com/growth-companies/#applyfunding.

Evli Growth Partners

Evli Growth Partners invest throughout Europe. Their home markets are the New Nordics: Finland, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania.

An insider view from their investment manager: https://medium.com/evli-growth-partners/vc-as-a-marketplace-and-other-learnings-from-the-first-year-in-vc-568dc2b1e7ad


Nordic Ninja is funded by large Japanese technology companies, but investment decisions are made locally. They have connections to large companies especially in Japan, having partnerships with global giants such as Panasonic, Omron and Honda.

They don’t invest in games, crypto or pharma. They’re widely interested in everything else, including but not limited to robotics, automation, health tech, AI and mobility.

They prefer to co-invest with a local investor, but can also lead or be the sole investor on a round. They’re often willing to serve on company boards.



OpenOcean invests into digital data-intensive solutions with significant indications of ability to sell and scale. B2B is a big plus, other business models are possible with very strong traction.

They have invested in open source solutions such as MySQL, MariaDB and RapidMiner. Other areas of especial interest include AI/ML, application-driven infrastructure and development tools, marketing technology, and automation and recommendation engines.

They look for cases that have a ready product + early revenue, a proven product-market fit. Typically they like to see companies already have €50k MRR (€500k/year recurring revenue).

They require a board seat as a condition of investing.  They’re often the lead investor of a round.