Pertti Vuorela

Archive for April 2014

Apr/14

27

Lifeline 2nd Fund is earlier stage

Lifeline Ventures is a team of serial entrepeneurs that invest in sectors they know by heart from their years as founders and startup leaders.  Due to their background, they often start working with a startup even before it has launched its first product, typically taking it from the inception to successful Series A investment and beyond. Goal is to be the first person the entrepreneur reaches out to in eventual times of trouble and joy. http://lifelineventures.com/

Lifeline, The Early-Stage Finnish VC Firm That Backed Supercell, Closed Another Fund. “It’s all very Finnish — pragmatic, long-term and maybe a little eccentric.”

http://techcrunch.com/2014/04/22/lifeline-the-early-stage-finnish-vc-firm-that-backed-supercell-closes-another-fund/

Lifeline second fund is smaller than their first fund at roughly $20 million compared to $30 million.

“We had a lot of external pressure to go bigger,” Koponen said. “Quite a few people said that they should be room for a growth-stage fund here, which would have meant we could have raised $100 to 150 million. But we just thought that we would actually maximize our impact if went even earlier stage.”

The new fund also doesn’t have a standard lifespan of 10 years. It’s indefinite. “Instead, we could hold companies for 20 years or as long as it takes,” said Lifeline’s other founding partner Timo Ahopelto. “We’d never be in a hurry to sell.”

It’s all very Finnish — pragmatic, long-term and maybe a little eccentric.

Oh, and with this fund, they’re not planning on focusing too much on games, which might be surprising considering the Renaissance that’s happened over the last five years in the local gaming industry with successes like Angry Birds-maker Rovio and Supercell. “We think the chances of category leadership are pretty slim,” Koponen said. “If we discover the right kinds of games company, we would be super happy to invest. But while game companies can be really attractive and I can understand why the money is flowing there, it’s not our cup of tea.”

They’re also excited about a few of their more recent investments like Oncos Therapeutics, which works on targeted cancer therapies and Smartly.io, which is a Facebook ads optimization tool.

Finland hosts the first ever coding World Championships

Sign up for the teams ends on April 7 2014.

Finland will host the first ever coding World Championships Hello World Open 2014 in Helsinki, Finland, this June 2014. The website for the games states that “now it is time to take the championships global, bring together the next programming superheroes and inspire the whole world to experience the joy of coding.”

http://www.goodnewsfinland.com/archive/news/finland-hosts-the-first-ever-coding-world-championships/

— We want to make coding better understood, more accessible and sexy. Our aim is to find coding world’s Kimi Räikkönens and Sebastian Vettels, comments Ville Valtonen who is main organiser for the event.
The event is supported by the mobile gaming company Supercell and the Finnish creative technology company Reaktor. According to Talouselämä, the organisers are expecting 10,000 teams to participate the championships.
The teams need to have 1-3 members and the sign up for the teams ends on April 7. The actual coding starts on April 14 and finishes at the end of the month. After that the teams are chosen for the qualifying rounds. The finals are held on June 5 in Helsinki.
Reaktor organised first coding Finnish championships in 2012, and over 200 teams took apart to the event.
www.helloworldopen.com

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