Why international venture capital in Helsinki is attracting Thai investors
“Made in Finland” evokes trust, innovation, and quality, along with ideas and companies shaped by sisu, long winters, sauna heat, and a touch of Nordic magic.
Finland has steadily built one of Europe’s most respected startup ecosystems, with Helsinki at its core. Finnish founders are known for building quietly and thoughtfully, combining research-driven know-how with global ambition. For international investors who value disciplined execution, technical depth, and long-term outcomes, it’s an ecosystem that stands out.
“Sometimes, you need to journey to the other side of the world to understand how far you can go. The quality of Finnish startups and the ecosystem makes that journey worthwhile.”
Sith “Joe” Sicoravit | Founding Partner, Valkeus Ventures
Valkeus Ventures: Thailand’s only Nordics-focused VC fund
Valkeus Ventures supports early-stage Nordic startups as they expand into Southeast Asia, bringing trusted international venture capital to Helsinki. The Thai-based fund focuses on four tech sectors where Nordic expertise is especially strong:
- Sustainability
- Healthcare and wellness
- Food and agriculture
- Travel and leisure
“We aim to be a real partner for Finnish business,” says Joe. “We guide founders through all the challenges and focus on building long-term value rather than just short-term gains.”
As part of its commitment to invest in Helsinki, Valkeus Ventures is also exploring the city as a potential second base.
What draws a Thai VC to international venture capital in Helsinki?
Among the Nordics’ strong startup ecosystems, Helsinki stands out for three main reasons: a welcoming community, family-friendly living, and a surprisingly vibrant energy.
Helsinki’s startup ecosystem is accessible and supportive
Joe and his co-founder and wife Patchaya “Yammy” Teerawatsakul spent last spring and autumn, nearly two months each, in Helsinki exploring the ecosystem. What struck them was how open and approachable it felt.
“The support we received from Finland, especially from Helsinki Partners, has been invaluable. Beyond professional guidance to navigate the Helsinki startup ecosystem and connect with the right people, they’ve helped my family transition to everyday life here,” says Joe. “That personal touch really makes a difference.”
Helsinki Partners’ Slush side event, where local and international VCs connected over pizza and drinks, showcased this openness. Joe also moderated Thailand’s first-ever Slush side event, strengthening ties between the Southeast Asian and Helsinki venture capital ecosystems.
Joe is also impressed by Finnish founders’ expertise. “Many come from research or industry backgrounds. They deeply understand their technology and are willing to learn the business side together. The secret sauce is their sisu, a Finnish concept of pushing through and overcoming obstacles.”
Family-friendly lifestyle
Helsinki immediately felt liveable to the Sicoravit family. Spaces like Oodi library became part of daily life, making it easy to settle in as a family, not just as founders or investors.
“We enjoy the lifestyle because it’s very family-friendly,” says Joe. Their daughter even started her first daycare in Helsinki, with playgrounds, parks, and museums all within walking distance.
“Even downtown, green spaces and water are never far away,” he adds.
Vibrant and energetic scene
November may be the city’s gloomiest month, but it didn’t dampen Helsinki’s startup ecosystem energy.
“Helsinki has a vibrant and energetic scene linking startups, universities, and government support. It’s a great place to be in the Nordics,” says Joe.
The energy peaked during Slush—deliberately held during the city’s darkest time of year. “The energy is overwhelming, but in a good way. If this is November, falling in love with Helsinki the rest of the year would be easy.”
really makes a difference!
The personal touch
Why should Finnish companies expand to Southeast Asia?
Through his work with Finnish founders, Joe highlights why Nordic startups should look south.
Tap into a large and diverse market
Home to around 700 million people, Southeast Asia is one of the world’s fastest-growing economies, with a combined GDP of $3.9 trillion.
Thailand alone has a population of 70 million, a booming digital economy, and ranks high for ease of doing business. Its strategic location and robust healthcare, agriculture, tourism, and sustainability sectors make it an ideal gateway for Nordic startups.
“Being more developed than many other Southeast Asian countries, Thailand is a good starting point before expanding to other markets in the region,” says Joe.
Make a bigger impact with Nordic innovation
Finland’s world-class innovation can have an even greater impact in Southeast Asia. “The Nordics are already very sustainable, so if you want to make a bigger impact, look to developing markets like Thailand where technology is still catching up,” says Joe.
For example, one startup partnering with Valkeus Ventures is adapting AI crop monitoring tools from European agriculture to tropical fruits like durian, helping farmers determine the right harvest times. Another Finnish startup’s caller identification technology addresses Thailand’s scam prevention challenges.
“There’s real value when Nordic technology meets Southeast Asian needs,” adds Joe.
Bridging Finnish innovation and Southeast Asian growth
Valkeus Ventures plans to deepen its presence in Finland while continuing to expand across the Nordics and Baltics. “We want to be part of the Nordic ecosystem’s success and serve as a strong bridge to Southeast Asia,” says Joe. “We look forward to working with founders and partners who value a long-term approach to scaling Nordic innovations in new and emerging markets.”
His advice for international VCs considering investing in Helsinki? “You’ll be surprised by the number and quality of startups here.”
And for Finnish founders eyeing Southeast Asia, he offers encouragement: “Be brave. With the right partners, Southeast Asia can be your first step towards becoming a truly global company.”
Ready to invest in Helsinki or explore the city’s venture capital ecosystem?
Venture Nordics is Europe’s top program for international investors interested in exploring the investment scene in the New Nordics, one of the region with most unicorns per capita (100+). Join the program to meet top-performing Finnish VCs, Nordic LPs, experience the ecosystem firsthand, and attend Slush.