Finnish venture capital firm Innovestor has launched a new fund focusing solely on early-stage Life Science & Health opportunities in the Nordic and Baltic countries.

The new fund aims to find the next billion dollar innovations from universities and strong research-based companies. The fund has completed a first closing of € 60 million and aims to increase its capital to 90-120 million euros within 12 months. State-backed Tesi (Finnish Industry Investment) acts as anchor investor in the fund.

This region has world-leading innovation capacity and scientific know-how both from life sciences and digital healthcare solutions field.

“An important starting point for us was that drug development and new health technologies are underfunded in Finland and in the neighboring countries. At the same time, this region has world-leading innovation capacity and scientific know-how both from life sciences and digital healthcare solutions field. There is a great demand for this fund in the market and it opens new opportunities also for private investors. Innovestor’s previous investments in life sciences and healthcare technology companies prove that the return target for the fund is realistic,” says Innovestor Ventures’ partner Petri Laine.From Health Capital Helsinki