Turku lunches initiative to build Angel Investor network and strengthen its startup ecosystem
The long-term vision is clear: positioning Turku as the most attractive hub for startups and investors in the Nordic region, combining public-sector commitment with private-sector expertise.
The City of Turku is taking a major step to accelerate its entrepreneurial landscape with a bold new goal: building a network of over 200 angel investors, inspired by the successful model developed in Malmö, Sweden. The initiative aims to boost the creation and growth of early-stage companies by expanding access to capital, expertise, mentoring, and strategic connections.
According to the latest "Turku Region Startup Survey," released at the end of October and conducted by the Startup Support Association in collaboration with Business Turku and the City of Turku, the sector is expected to experience significant growth compared to 2024. Startups focused on Software and Enterprise Services are leading the way at 37%, a 4-point increase over the 2024 results (33%).
However, investment and financing remain crucial for startups and their growth within the Turku ecosystem. In this regard, the city is actively developing an innovation ecosystem in partnership with universities, research institutes, and businesses.
"Turku wants to invest in the availability of financial instruments and funding channels for startups. Redstone's Blue VC fund is a good example of this. Our goal is to create the best possible conditions for the emergence and growth of new startups," said Vesa Palander, Director of Vitality for the City of Turku, at the time.
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A development fund committed to economic vitality
As part of this strategy, Turku highlighted its Economic Development Fund, which supports instruments that strengthen regional vitality, including venture capital funds.
One of the key vehicles in this mission is Monttu Ventures, a fund that invests exclusively in early-stage startups with a direct link to Turku. The city announced it will act as an anchor investor in the new Monttu Ventures II fund, contributing €100,000 to help accelerate its capital raise.
An open call for new investors
Turku is inviting all individuals and organizations interested in the region’s economic development to join the fund as investors.
A dedicated networking and pitch event will take place on 25 November, from 17:00 to 19:00, at Turun Seurahuone (Coco). During the event, Anton Suomalainen, CEO of Monttu Ventures, will pitch the fund and present detailed opportunities for those looking to support the region’s startup growth.
Registration is free, you just need to fill out this form ->https://www.lyyti.fi/reg/turkukasvuun
Aiming to become the Nordics’ most attractive startup & investor hub
The long-term vision is clear: positioning Turku as the most attractive hub for startups and investors in the Nordic region, combining public-sector commitment with private-sector expertise.
"The City of Turku has a €23 million economic development fund that invests in venture capital funds supporting regional vitality and growth. One of these is Monttu Ventures, which invests exclusively in early-stage companies with a link to Turku. The city will invest at least €100,000 in the Monttu Ventures II fund. We now invite all those interested in the vitality and growth of Turku to join as investors in the fund. Other anchor investors include the Liedon Säästöpankkisäätiö, Turku Businessmen’s Association, Turku KY, and Åbo Akademi", Vesa Palander, Director of Economic Vitality, City of Turku.