Juncker Plan supports launch of Nordic deep-tech fund Voima Ventures


The Investment Plan for Europe – the Juncker Plan – is backing the first venture capital (VC) fund in the Nordics investing purely in startups in deep tech and science: Voima Ventures. Deep tech startups are at the forefront of science-driven innovation and aim to address the biggest challenges humanity faces in areas such as medicine, transport and energy. Cornerstone investors to the new fund are the European Investment Fund (EIF) – backed by European Fund for Strategic Investments (EFSI), the heart of the Juncker Plan – and VTT Technical Research Centre of Finland, backed by Finnish private and institutional investors.The EIF will provide up to €20 million to the fund. Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness said: “The startups that Voima Ventures will invest in are making scientific breakthroughs and high-tech innovations that could change our lives. For such novel projects based in deep tech and science, financial support is crucial and this is where the EU is playing an important role. I wish Voima and its beneficiaries much success and I look forward to hearing about their future innovations.” A press release is available here. As of April 2019, the Juncker Plan has mobilised almost €393 billion of additional investment, including €8.2 billion in Finland. The Plan is currently supporting 945,000 small and medium businesses across Europe.