The Finnish State Development Company Vake Oy is a state-owned investment and development company with a mission to make an impact and enable change in our society. Vake is tasked with building a strong portfolio of investments and development projects to enable ecosystem development in Finland around key business sectors and technologies of the future.
Vake - Building bridges
As a state-owned company, Vake strives to ensure that Finland and the Finnish public have ownership and skillsets in technologies that will become increasingly important in the future. In addition to economic and business value Vake also always considers employment opportunities and societal wellbeing when making its investment and development decisions.
We need stronger public and private sector collaboration in order for the Finnish skills and companies to secure a strong international position as pioneers in new technologies and innovations. Vake also serves as a significant resource in renewing the Finnish business environment.
Vake in a nutshell
State company, founded
Company balance sheet
A wide selection of tools and methods
Among the private equity investors and public providers of venture capital investment, Vake is a new and complementary operator. Vake seeks and identifies suitable investments and development projects in collaboration with other investment and development organisations.
Vake is a theme-based operator – we focus exclusively on carefully chosen technologies and phenomena. Vake’s first theme is Artificial Intelligence, which divides into a number of programmes on specific topics. Read more about our themes and programmes.
Vake operates a wide range of tools and methods with only direct state subsidy excluded from the instrument portfolio.
Our investments are particularly targeted at unlisted companies who need an injection of capital to scale up from a promising technology business to an internationally important company with investor appeal. Vake also invests in a variety of different companies and funds.
In development activities, Vake can establish entirely new entities, organise challenge competitions to speed up the evolution of new critical structures and players/actors/operators, and engage in non-profit projects with the aim of improving the overall business environment. Such projects include supporting Finnish language AI resources or other development projects of wider social significance, which private investors alone are unlikely to realise.
During autumn 2019, The Finnish State Development Company Vake’s strategy will be specified together with the owner, which may cause some changes in our operations in the future. We will keep you informed as the process moves forward.