Fika with Maki.vc partner Paavo Raisanen: "We just want to invest in the best teams"

Maki.vc recently closed a third fund of €100m. Tell us what kind of companies you’re investing in.

"We’ve got a focus on investing in pre-seed and seed-stage companies across the Nordics – anything from the deepest of deep tech to consumer products and services."

How important is impact investing for your VC firm?

"For us, it has happened quite naturally. We are not sector-focussed, but there are a lot of talented people in the Nordics who want to build companies that have a positive impact."

What was your most recent impact investment?

"Last week we announced we’re investing in a Norwegian-UK company called Lightsonic. They are turning existing optic fibre networks into real-time sensing devices. So for example, they can detect water leakages, and since there is water scarcity in many places, it could have a huge impact."

A third of Maki’s recent funding has gone to mixed gender teams, which is above the EU average. Has the company made a conscious effort to champion female-led businesses?

"Yes and no. We have a lot of female investors on our team, and we have all had unconscious bias training. But also we just want to invest in the best teams. We don’t make decisions based on gender. There are a lot of great female entrepreneurs in the Nordics, and we’ve enjoyed backing them and seeing them become successful."

How did you get into investing?

"I was working for a tech startup, which did a bit of a pivot and decided to focus on the US market. I didn’t want to move my family there, so I started to look for other opportunities. I was the first hire at Maki, and I promised them I would do investing for at least two years, although I thought I would end up moving to one of the portfolio companies after that. But now I’ve been at Maki for seven years!"

So what do you enjoy most about the VC world?

"I think it's really the people around me, both my own team and the entrepreneurs we get to work with. They are driven and innovative and energetic people – there’s no need to motivate anyone, it’s “full steam ahead!”. I have also been super interested in new technologies ever since I was a child."

What’s your most unusual investment to date —and how did it turn out?

"We invested in Onego Bio, which is a company that produces animal-free egg whites, using a fungus and precision fermentation. The company raised a big Series A round last year. We actually had a session recently where we tasted the product in pancakes. They were fluffy and very tasty!"

Do you have a good habit that you’re proud of?

"Yes. I like to get to the office quite early, so I can use the more silent moments to do some deep work. I am usually there by 8am, and try not to have any meetings for the first hour at least."

When you're not thinking about investing, where does your mind go?

"I have three daughters, so I think about them and want to spend time with them and see how they’re developing. Health is also important. I spend time playing sports, to stay in shape. It’s important to move around after work if you work in an office, I’ve learnt that over the years."

What have you been listening to or watching lately?

"Honestly, I am not a regular podcast subscriber, and I don’t have much time to watch films.

My favourite thing to watch lately was the ice hockey team I have been following for 30 years winning the Finnish title for the first time! They are called KalPa and they are from Eastern Finland, like I am originally as well"

What is your favourite fika?

"Always a coffee, with a cinnamon bun. I’m always debating with Swedish friends if Finnish or the Swedish cinnamon buns taste better."

And what’s the answer?!

"For me it's the Finnish ones, of course!"