Leo Capital's decision to establish a presence in Helsinki was significantly influenced by the 90 Day Finn programme, in which one of its founders, Shwetank Verma, participated in 2022. The programme played a pivotal role in showcasing the potential of Helsinki as a hub for innovation and investment.

Established in 2018, Leo Capital has primarily focused on the APAC region with three successful funds. However, the firm has also been active in European markets since 2021, backing companies such as Apica, Atoa, and Eir. The new Europe Fund I signals a major step in the firm’s commitment to the Nordic startup ecosystem.

In a vote of confidence, Business Finland Venture Capital has made an anchor investment in the fund, endorsing Leo Capital's strategic move despite the current economic challenges.

“Europe Fund I continues Leo Capital’s successful strategy of investing in the world’s most capable, ambitious, and resilient founding teams. It is these founders that we are looking to partner with, combining their vision and dynamism with our own networks, resources, and years of cross-border experience to help supercharge their trajectory and realize their global ambitions,” said Shwetank Verma, Co-founder of Leo Capital.

Leo Capital’s decision to expand its operations to Finland came after participating the 90 Day Finn programme, an initiative by Helsinki Partners designed to attract international entrepreneurs and investors to Helsinki. Shwetank Verma's participation in the programme provided deep insights into the Finnish business environment, which shares key qualities with Singapore, such as strong government support, a high level of expertise, and a vibrant entrepreneurial spirit.

“For us, Finland is exciting because we see parallels with what we know best in Singapore, for example. We can see that combination of government support, talent, and entrepreneurial zeal. They’re small markets but very dynamic,” Verma noted.

Despite the abundant opportunities, Helsinki's potential remains relatively underexplored on the global stage. Programmes like 90 Day Finn have been crucial in bridging this gap, as they have successfully brought international investors like Leo Capital to recognise Finland’s unique offerings.

“To attract investments, talent, or companies to expand to Helsinki, we need to generate interest and ensure they experience what Helsinki and Finland has to offer. Programmes like 90 Day Finn have proven to be incredibly effective. For instance, Leo Capital originally considered another European location for their headquarters but shifted to Helsinki after participating in the programme,” commented Johanna Huurre, Business Director at Helsinki Partners.

The Nordic region, known for its openness and global perspective, provides an inviting ecosystem for international funds. However, while early-stage funding is relatively accessible, there is a notable gap in later-stage funding, an area where Leo Capital aims to make a significant impact.

“One of the challenges in Finland is the relatively small and local nature of funds. To elevate Finland's success stories, we need to attract larger international funds and investors. The entry of Leo Capital, with its extensive network, into Helsinki’s ecosystem is a significant step towards this goal,” Huurre added.