Top Angel Investors in Finland

Last updated: April 25, 2024

Finland ranks as the 7th country with the most vibrant startup ecosystem in Western Europe. The country has a population of 5.5 million and is known to be a hub for gaming, bioeconomy, clean and smart technologies.

Similarly, many angel investors in Finland provide funding to startups. And if you’re thinking about who these angel investors might be, let me help you with the list of the top 7 angel investors in Finland, along with some additional interests.

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    Top 7 Angel Investors in Finland

    The following is a list of some of the top angel investors in Finland. However, before we start, remember that the list features investors based in and outside Finland. 

    It is recommended to conduct in-depth research before applying to an investor meeting.

    Ali Omar

    LinkedIn: Ali Omar | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Medtech

    Investment Stage: Early 

    Ali Omar is a well-known angel investor with a background as a medical doctor, private investor, and entrepreneur. He has made 51 investments, among which most of them are at early-stage.

    Ali Omar usually funds startups in the medical and tech sectors. He prefers businesses that provide unique services and solve problems. Once invested, Ali Omar also guides his portfolio companies through different stages. He is an active participant in networking events and startup accelerators through which he makes most of his investments.

    The investment range of Ali Omar can range up to $50,000. Some of his portfolio companies are:

    Plain Complex: Plain Complex is a company that provides AI and deep learning powered software services. They also provide a roster management system, healthcare roster management, and a roster scheduling system for healthcare services.

    MÖ Foods: MÖ Foods is a company located in Lohtaja. They produce domestic, completely herbal, and delicious plant-based dairy products in its home region of Central Ostrobothnia.

    Alvar Pet: Alvar Pet is a company based in Helsinki, Southern Finland. They offer personalized meal plans based on the dog’s individual needs, formulate their recipes using sustainable ingredients, and minimize CO2 emissions.

    Ilkka Paananen

    LinkedIn: Ilkka Paananen | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Tech, AI, and Digital Businesses

    Investment Stage: Early

    Founder and CEO of Supercell, Ilkka Paananen, is also an active angel investor in Finland. He has made around 40 startup investments and has a portfolio of 30 startups. 

    When funding startups, Ilkka Paananen prefers startups related to the software and gaming sectors. He prioritizes companies with a high ROI and strong business models that can easily scale internationally.

    Once a startup has secured an investment, Ilkka Paananen also provides mentorship services to his portfolio companies. Thanks to his experience at Supercell and Atomico, Paananen has in-depth knowledge of the business industry.

    The investment range of Ilkka Paananen is around $80,000. Notable portfolio companies are:

    Arcane Intelligence: Arcane Intelligence is an AI software startup. The company provides AI and deep learning powered software services. They also provide a roster management system, healthcare roster management, and a roster scheduling system.

    Noice: Noice is an audio streaming app. It offers songs, radio channels, podcasts, downloads, and voice recording features. 

    GetPaid: GetPaid is a digital payment platform that helps platforms and marketplaces gain value from payments across revenue potential, data, and business insights.

    Leena Niemistö

    LinkedIn: Leena Niemistö | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Healthtech and Biotech

    Investment Stage: Early and Seed

    Having a special interest in health technology-related companies,  Leena Niemisto has been recognized as the Business Angel of the Year 2016 by FiBAN.

    Funding startups for almost a decade now, she invests in businesses that are producing something unique and leaving a positive impact. She highly emphasizes emerging technology and invests in startups with the lowest competition.

    The investment range of Leena Niemisto lies between $25,000 to $500,000. Some of her portfolio companies are:

    Nightingale Health: This is a health technology company that is transforming preventive care. They envision a world that prioritizes keeping people healthy rather than solely treating illnesses. 

    Surgify: Surgify is a medical technology company that develops surgical drill technology.

    FinnAdvance: FinnAdvance is a biotechnology company that has developed microfluidic devices for in-vitro microvascular network generation.

    David Helgasonan

    LinkedIn: David Helgason | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Tech

    Investment Stage: Early

    David Helgasonan is an active investor in various stages of startups, including Idea, Product, Prototype, and Go to Market. He has made 81 investments and has had 13 exits.

    Since Helgasonan invests in startups all across Europe, he prefers businesses with the most unique ideas and the highest growth potential. Among most of his investments, he has usually invested in startups at early-stage companies.

    David Helgasonan's investment range is between $25,000 and $50,000.

    Breakthrough Energy: Breakthrough Energy is an organization committed to making the promise of clean energy a reality. Their aim is to inspire the world to develop and scale the critical solutions needed to reach net-zero emissions. 

    Unity Technologies: Unity Technologies is the world’s leading platform for creating and operating interactive, real-time 3D (RT3D) content. They empower creators across industries and around the world.

    Risto Siilasmaa

    LinkedIn: Risto Siilasmaa | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Software

    Investment Stage: Early and Seed

    Risto Siilasmaa is a well-known angel investor and a co-founder at Nexit Ventures. He has been an active investor in several technology startups and usually invests at the early and seed stages.

    However, Risto Siilasmaa is known to have a unique mindset and only invests in businesses that match his mindset. He has mentioned on his personal blogs that startups motivate him through "soft values" and not "maximum returns” (referring to innovative ideas).

    Aside from investment activities, Risto Siilasmaa also guides his portfolio companies. His investment range can go up to $600,000. Three of his portfolio companies are:

    The Upright Project: The Upright Project is a company that operates in the Business/Productivity Software industry. It develops a quantification platform that calculates the net impact profile of products and services. 

    The 280 Co.: The 280 Co. operates in the Energy Infrastructure industry. It develops clean energy technology designed to convert greenhouse gases into graphene. 

    Aiven: Aiven is a company that operates in the Database Software industry. It develops open-source data platforms that serve all the database needs wherever needed.

    Jyri Engeström

    LinkedIn: Jyri Engeström | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Blockchain and Healthtech

    Investment Stage: Early and Seed

    Jyri Engeström is a well-known angel investor and a co-founder of Yes VC. Aside from being an angel investor, Jyri Engerstrom is also an entrepreneur and has founded 2 startups, one being acquired by Google and the other one being acquired by Groupon.

    During the investment procedure, Engestrom usually invests in the early stages, but his portfolio also has some seed-stage investments. Similarly, like most other investors, Jyri Engerstrom also likes to invest in startups that are led by experienced entrepreneurs and can 2x their profits within 1-2 years.

    The investment range of Jyri Engerstrom ranges between $150,000 to $1.5M. Some of his portfolio companies are:

    Dapper Labs: Dapper Labs uses blockchain technology to bring new forms of digital engagement to fans worldwide. They are the creators of CryptoKitties and NBA Top Shot.

    Oura: Oura is a health technology company known for its wellness ring and app. The Oura Ring tracks key signals from your body while you sleep, delivering critical insights to help you build good habits, optimize your performance, and catch potential health issues early.

    Mikael Hed

    LinkedIn: Mikael Hed | LinkedIn

    Investor Type: Individual Investor

    Investment Interests: Early and Seed

    Investment Stage: Tech

    Mikael Hed is an individual angel investor, former CEO of Rovio, and also the founder of Kaiken Entertainment. He has invested in several businesses and most of his investments are in the FinTech and InsurTech sectors. 

    Startup leaders can reach out to Mikael Hed through his LinkedIn or meet him through related startup events. He is usually active in attending startup accelerators and networking events, meeting with startup leaders, and hearing out their ideas. 

    The investment range of Mikael Hed is around $1M. Some of his previously funded companies are:

    Naava: Naava is a nature-inspired technology company from the Nordics. It is the global market leader in living green walls and biological indoor air purification with proprietary software and patented technology. 

    CGTrader: CGTrader is the world’s largest source for licensable stock and custom 3D models. The self-service CGTrader Marketplace showcases 1,960,000 3D models and includes a managed community of 8.93 million users.

    Goodio: Goodio is a manufacturer and supplier of confectionery products. It offers vegan, organic, and gluten-free chocolates, bars, and flavors.


    Finally, it needs to be well-understood that not every angel investor has a similar mindset. 

    That is why before pitching to angel investors, you need to strongly research his portfolio companies, their pitching techniques, and the preferences of a specific investor. 

    Frequently Asked Questions

    Q: What is the difference between Venture Capital Firms and Individual Angel Investors?

    A: Venture capital firms are organized setups that aggregate capital from various investors and deploy it into startups at a larger scale, offering expertise and guidance.

    In contrast, individual angel investors are private individuals who invest personal funds directly into startups, typically at an early stage, using a more personalized approach and hands-on involvement in the startup's growth.

    Q: How to make your startup investable?

    A: To make a startup investible, focus on a scalable business model, a strong team, a well-defined market opportunity, and evidence of market validation.

    Q: Do Angel Investors Provide Mentorship Programs?

    A: Yes, many angel investors provide mentorship programs and financial support. They leverage their experience to offer strategic insights, assist in critical decision-making, and facilitate introductions to their network connections. This mentorship is pivotal for startups, aiding them in overcoming obstacles and expediting their growth trajectory.

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