Finnish venture capital market declined in 2009

Finnish venture capital market declined in 2009

Investments in Finnish high-tech companies dropped 60 percent from 2008, reflecting a 30.6 percent decline in the overall investment activity. Fifty-eight companies tracked by Technopolis Online received funding worth 101 million euros. Investment activity last year remained higher than expected, but investors stayed away from larger investments like the WinWind and Blyk deals that contributed 160 million euros to the market in 2008.

“Finland fared well in the international comparison. And 2010 has seen a good start in the investment activity. But the lack of exit opportunities or international investors continues to be a problem. We need to keep working hard to solve these,” said Will Cardwell, director of Technopolis Development Services.