VAKE - building bridges
Vake is an investment and development company of the Finnish state, which acts as a builder of bridges between promising Finnish technology companies and their future markets.
Finland has strong expertise in digitalisation and artificial intelligence. In the context of public-private partnerships, expertise can be further developed and a position as an internationally important user of new technologies and a catalyst for innovation can be attained. To achieve this objective, flexible and broad-based development and investment partners like Vake are necessary.
Creator of shared value
Vake will reform and diversify the Finnish economy in the very direction that tighter global competition and emerging technologies will require from Finland. At the core concept of Vake is the seamless integration of business and social value – Vake will help its partners to build business value, while generating widespread social value for Finland. This will be achieved by supporting the promotion and uptake of technologies that will have a significant future impact.
Vake in a nutshell:
State company, founded 2016
Operational from 2018
Company balance sheet 1.8 bn euros
Neste Oyj appr. 8.3%
Posti Group Oyj 49.9%
Altia Oyj appr. 36.2%
Nordic Morning Oyj 100%
Still to be transferred:
a wide selection of tools and methods
Vake’s activities will be guided by long-term themes. The first theme is artificial intelligence. Cooperation with other investment and development organisations is a natural way to work and find new growth areas and items.
Vake has a wide range of operational measures, although direct state aid is excluded. In particular, our investment targets are unlisted firms requiring capital to scale up to become promising technology companies and internationally significant enterprises and investment targets. Vake can also invest in other types of companies or funds.
Regarding development and projects, Vake can establish or finance new business operations, set competitions or advance public interest projects to develop Finland’s operating environment, for example, supporting the language resources of Finnish language artificial intelligence.