From First Cheque to Global Scale: The Strategy Behind Lifeline Ventures’ Finland’s Largest-Ever Early-Stage Venture Fund

Recorded live at Slush in Helsinki, this episode of 0100 Impact Talks features Elina Holkko, Partner and CFO at Lifeline Ventures, unpacking the strategy behind the firm’s €400 million Fund VI—the largest early-stage venture fund ever raised in Finland. Beyond fund size and LP evolution, the conversation addresses Lifeline’s approach to defense and dual-use technologies, reframing them as compatible with impact investing when viewed through the lens of sovereignty, resilience, and societal stability. Holkko explains how an expanded LP base—from Finnish pension funds to US investors—has enabled a barbell strategy that supports founders from first cheque to global scale, without drifting from Lifeline’s long-standing pre-seed and seed focus.

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