Voima Ventures Closes €100M+ Fund III for Nordic and Baltic Deeptech Startups

Voima Ventures, a venture capital firm with offices in both Helsinki and Stockholm, has officially announced the final closing of its third fund, Fund III, which has raised over €100 million. This fund is designed to comply with Article 8 of the EU's Sustainable Finance Disclosure Regulation, focusing on deep tech innovations that contribute to environmental sustainability and long-term societal impact.Fund III will specifically target breakthrough technologies and deep-tech startups in the Nordic and Baltic regions. The fund has already made 8 investments from its initial closing, highlighting its commitment to advancing cutting-edge solutions that have the potential to transform industries such as energy, manufacturing, and biotechnology.

By focusing on high-impact sectors, Voima Ventures aims to support companies that are at the forefront of technological advancements, while driving economic and environmental benefits in the Nordic and Baltic ecosystems. This fund's strategic emphasis on Article 8 compliance aligns with growing investor demand for sustainable and responsible investment opportunities, reinforcing the firm’s commitment to contributing to both economic growth and positive environmental change.With a solid track record in backing deep-tech innovation, Voima Ventures looks poised to accelerate the development of new technologies that address some of the most pressing global challenges. The closing of Fund III will allow the firm to continue its mission of helping transformative startups scale and succeed, thereby driving technological progress and sustainable solutions across multiple sectors.

Voima Ventures' newly closed €100 million+ Fund III is specifically designed to support the next generation of science-driven unicorns. The fund will make initial investments ranging from €200,000 to €3 million, with the flexibility to make substantial follow-on investments as portfolio companies grow and scale. This strategy ensures that the firm can continue to back its most promising startups through multiple rounds of funding, providing them with the resources needed to accelerate their development and reach new milestones.A key focus for Voima Ventures is to further strengthen its presence in the Nordic and Baltic regions, positioning itself as the go-to venture capital firm for early-stage university spinouts and science-based startups. These startups, often rooted in groundbreaking academic research, require specialized support and expertise to commercialize their innovations.

With its deep understanding of the region’s unique startup ecosystem, Voima Ventures aims to be a long-term partner, helping these startups navigate the early, crucial stages of growth and scale globally.By targeting science-driven companies with the potential to become global leaders, the firm intends to foster the development of breakthrough technologies that have a transformative impact. This includes innovations across fields such as clean energy, advanced materials, artificial intelligence, and health tech. Through this strategic focus, Voima Ventures is committed to not only nurturing high-growth companies but also contributing to the broader goal of creating sustainable, world-changing solutions that can thrive in the global market.

Since its founding in 2019, Voima Ventures has positioned itself as a trusted partner for early-stage founders, combining deep expertise in both academia and industry to bridge the gap between cutting-edge research and commercial success. A significant portion of its portfolio, over 70 percent, comes from university spin-offs or research-driven ecosystems, which allows the firm to tap into groundbreaking innovations at their very inception. Voima Ventures’ commitment to deep tech entrepreneurship has led to early investments in successful companies like Solar Foods, Dispelix, MVision, Betolar, and EniferBio — all of which are making strides in their respective industries.

Inka Mero, Founder and Managing Partner of Voima Ventures, emphasizes that in deeptech, the pursuit of scientific innovation is not merely about technological progress, but about delivering meaningful, global impact while ensuring strong financial returns. She highlights the firm’s recent Impact Report, which underscores Voima Ventures’ dedication to driving positive change. The report reveals that the third fund (Fund III) of Voima Ventures achieved an impressive net impact score of +48 percent, a stark contrast to the -8 percent impact of the average US Fortune 500 company.This impact score demonstrates that Voima Ventures’ investments are not only financially successful but also contribute to a more sustainable and transformative future. The firm’s commitment to impactful investing means that every Euro deployed is intended to create tangible positive change, supporting sustainable practices and breakthrough technologies that address global challenges in sectors such as clean energy, advanced materials, health tech, and AI.

Through its investments, Voima Ventures is making a significant mark on both the startup ecosystem and the world at large, driving progress toward a more sustainable and innovative future.The investors backing Voima Ventures Fund III include a prestigious group of institutions and organizations, such as the European Investment Fund (EIF), Finnish Tesi and its fund of funds KRR, VTT of Finland, Saminvest from Sweden, and prominent pension funds like Nordea Life and Elo. The fund has also garnered support from well-established foundations and family offices, further reinforcing its credibility and commitment to advancing deeptech innovation across the Nordic and Baltic regions.

Voima Ventures Fund III is set to make 25-30 investments, and has already completed 8 investments in pioneering startups. Among these are companies such as ÄIO, a leader in intelligent energy solutions; Liquid Sun, which is developing next-generation solar technology; and Avenue Biosciences, a promising startup focused on advancing health technologies. These initial investments reflect the fund's focus on breakthrough innovations that have the potential to transform industries and deliver impactful, sustainable solutions on a global scale.By targeting high-potential deeptech startups with an emphasis on scientific and technological advancement, Voima Ventures Fund III is positioned to drive significant value in emerging sectors, further consolidating the firm's role as a key player in supporting the next generation of science-driven unicorns.