26.03.2012

Finnish game industry is flourishing

New EUR 20 million fund established by Lifeline Ventures will support startup companies.

European Regional Development Fund has granted EUR 2.25 million for a two-year project that aims to start a development forum for the game sector, carry out research on training needs, develop training content, and create game development environments for joint use. The project will also support startup companies with market entry and demo productions. Finnish games technology can also be utilised in training for practical working life solutions, technology development and health care.

Finland has become a dynamic meeting place for experienced serial entrepreneurs, a skilled workforce and investors who are all committed to creating successful games. The Finnish startup accelerator Lifeline Ventures is expanding its operations to create an investment fund. The company has put together a EUR 20 million fund with investments Eläkevakuutusyhtiö Ilmarinen, Kasvurahastojen rahasto, Sitra, Finnvera, Troll Ventures, Juuranto Invest, and the founders. The size of the fund will be increased in the future.

Depending on the situation of the company, the fund will be investing from tens of thousands to millions of euros, according to Petteri Koponen and Timo Ahopelto, founders of Lifeline Ventures. They are particularly interested in investing in startup companies.

Lifeline Ventures invests in health, games and technology companies. One of Lifeline Ventures’ earlier investments is Applifier which has grown in two years into the world’s largest marketing network for games, reaching 150 million monthly users in Facebook, Open Web and Mobile. Lifelines Ventures has also invested in Accel Partners, HealthCap and True Ventures, among other companies.

Sources: Kauppalehti, STT, Talouselämä