Finnfund (finnfund.fi) — legally the Finnish Fund for Industrial Cooperation — is Finland's development financier and impact investor. It invests in profitable, socially and environmentally responsible private companies and projects in developing countries, with focus sectors spanning renewable energy, sustainable forestry, sustainable agriculture, digital infrastructure and solutions, and financial institutions and SME funding.
Scale and ticket size
Finnfund invests €200–250 million per year in 20–30 companies, with total investments, commitments and investment decisions of about €1.3 billion; it employs around 100 people in Helsinki and Nairobi. Ticket sizes run €3–25 million, typically at Series B/C-style corporate-finance stages with minority stakes.
India investments
Finnfund's India portfolio is deepening fast across energy transition and financial inclusion. Verified investments from its official project pages: Fortum Charge and Drive India (EV charging network) — €4M equity in August 2020, €4M in March 2023, plus follow-ons of €410K (May 2025) and €138,745 (November 2025); Mahindra Electric Automobile Limited — $10M equity in January 2025 (via BII India EV LLP); Transvolt Mobility — $15M equity alongside IFC to scale electric heavy-commercial-vehicle fleets (targeting 3,500 vehicles and ~8,500 jobs); SATYA MicroCapital — $35M with FMO to make formal finance more accessible to women in India; plus Ecofy (Mumbai digital green financing) via the Digital Access Impact Fund and Indifi via the OP Finnfund Global Impact Fund I.
The India portfolio maps Finnfund's two biggest theses — energy transition and inclusive finance. In mobility: Fortum Charge and Drive India (€4M in 2020, €4M in 2023, plus €410K and €138,745 follow-ons) builds EV charging networks; Mahindra Electric Automobile took $10M in January 2025; and Transvolt Mobility received $15M alongside IFC to scale electric heavy-commercial fleets toward 3,500 vehicles and ~8,500 jobs. In finance: SATYA MicroCapital secured $35M with FMO for women's microfinance, while Ecofy (digital green financing) and Indifi (SME lending) came through Finnfund's fund investments.
With €200–250 million deployed yearly across 20–30 companies and tickets of €3–25 million at Series B/C stages, Finnfund operates at exactly the scale where Indian climate and fintech companies typically seek their first institutional growth round — and its habit of co-investing with IFC, BII and FMO means one yes can syndicate the round.
Why it matters for founders
Finnfund is writing €3–25M cheques into Indian EV, green-finance and women's financial-inclusion companies right now — and it co-invests with IFC, BII and FMO, which means one conversation can syndicate your round. If you are at Series B/C in energy transition or inclusive fintech, Helsinki should be on your roadshow.