Current state of growth financing and funding in Finland (2025)

This report on the current state of Finland’s growth financing and funding, prepared by the growth policy group of the Department for Innovation and Enterprise Financing at the Ministry of Economic Affairs and Employment, provides a broad overview of growth financing and funding in Finland, including a review of the Finnish corporate finance and venture capital markets as a whole.

A well-functioning corporate finance market and the availability of capital investments are crucial to the development and growth of companies. Meanwhile, enterprise financing and funding provided by the State complements the private market by filling market failures. EU financing and funding diversifies the range of financing available to high-risk growth companies.

The report provides a topical and comprehensive situation picture of the growth financing and funding ecosystem in Finland, highlighting various market failures and trends as well as the importance of both private and public financing and funding in promoting the growth and competitiveness of companies.

According to the report, private corporate financing and the capital investment market function well in Finland on average, offering diverse financing and funding opportunities for promoting innovation and growth. Nonetheless, there are challenges in the availability of financing and funding, especially for small, innovative and growth-oriented companies. To solve these challenges, it is necessary to further develop the growth capital market and to introduce new forms of financing and funding for the sake of diversification.