Key employees of Supercell and venture capital firm Lifeline Ventures have announced the opening of an investment company.
She has €15 million at her disposal. This money is intended to finance young businesses from Finland and neighboring countries, such as Estonia and Sweden. A third of the amount came from Ilkka Paananen, CEO of Supercell.
The established company is managed by two founders of Lifeline Ventures, which, by the way, was among the successful Supercell investors in 2010.
The average amount of investments in the Finnish market is about €49 thousand. The created investment company will provide amounts ten times more, giving startups more time to “grow up”. As Paananen noted, this is even more than business angels invest in promising newcomers from Silicon Valley at an early stage.
Supercell itself had €270 thousand of its own capital and $400 thousand of public investments in its wallet in the year of its inception. During the first round of investment, it attracted €750,000 from Finnish and foreign investors.
Source: http://www.arcticstartup.com