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Nostetta Ventures – courage and tenacity go a long way

10.1.2025

Nostetta Ventures Oy manages the EUR 10 million North Savo Startup Fund. In addition to the growth of its target companies, the company wants to promote the vitality of the entire region.

The investors in the fund managed by Nostetta Ventures include the largest cities in the region, i.e. Kuopio, Varkaus and Iisalmi, as well as a number of private investors, the largest of which are Säästöpankki Optia bank, LähiTapiola Savo mutual insurance company and Osuuskunta KPY cooperative. Nostetta Ventures has also invested in the fund itself. In addition, a grant obtained as a result of the investment made by the City of Kuopio is part of the fund.

“We find the right financing objects for the fund and manage the portfolio so that the target companies will grow and develop profitably. In addition to expected yield, local impact is one of our investment criteria,” Managing Director Noora Tuikka explains Nostetta Ventures’s operations method.

Nostetta Ventures is happy to help

The operations of Nostetta Ventures and the fund it manages started in 2020. In addition to active board work, the target companies receive sparring support from Nostetta Ventures. Tuikka encourages companies to turn to them for assistance even if they are not included in the portfolio. Nostetta Ventures is happy help start-ups to create as many businesses as possible in the region.

“It’s in our best interest, too: the more active start-ups and successful businesses we have in North Savo, the better,” Tuikka says.

Companies have a genuine desire to grow

The fund’s initial investment period has now ended, and investments in 11 companies have been made. The target companies include the University of Eastern Finland spin-off company Marginum Ltd, the software company Rowly Oy and the technology company Kiho Oy.

“The companies themselves will do most of the work, but we will be there to support them. All credit to the companies’ teams; they are genuinely capable and willing to grow,” Tuikka says.

According to Tuikka, the moment when a decision on a new investment is made is always great. Lengthy discussions precede an investment decision.

“It is a solemn moment when we start to take the company forward, and it feels particularly good if the company and its team succeed in their business. These are the moments why we do this job. They are also a measure our own success,” Tuikka describes.

Team with extensive expertise

The Nostetta Ventures team possesses extensive expertise. In addition to robust investment and business development expertise, the team is proficient in the field of technology. According to Tuikka, being able to spar the target companies in the development of technology in addition to business is important.

In addition to technological expertise, the Nostetta Ventures team possesses a strong combination of business, growth, entrepreneurship and investment expertise. The team members have gone through the same things that the target companies will go through. They are happy to share their lessons learned on what is worthwhile and what is not.

“Our personal experience creates the basis for finding the success factors and the things that are preventing success. Perhaps we are also able to understand entrepreneurs and teams that are currently going through the rollercoaster,” Tuikka believes.

Growth curve seldom goes straight up

Tuikka encourages start-up companies to not hesitate in asking for sparring assistance. Starting a discussion about your idea and growth journey – also with potential customers – as early as possible is a good idea.

She also points out that the growth curve seldom goes straight up – it can be very curly. You must just try to bear with the dips that can also be caused by outside factors. Courage and tenacity will go a long way.

“Sometimes you simply can’t get up from a pit. You should keep in mind that it’s just the story of that specific company, however. Even a bankruptcy is not the end of all stories: it is just the end of one company. Naturally, it’s unfortunate and certainly difficult, but you should still have the courage to set up a business, even though the possibility of a bankruptcy always exists,” Tuikka encourages.

Nostetta Venture’s webpage (in Finnish)

Good opportunities for support in the region

According to Noora Tuikka, the Managing Director of Nostetta Ventures, companies in North Savo have good opportunities to receive support. There are many different parties to contact. In addition, she praises the good research and development base in the region.

“I would also like to thank Business Kuopio for the excellent cooperation and the work it is doing for companies in the region. The cooperation has been very fruitful, and I have heard good things about Business Kuopio from other sources as well,” Tuikka says.

In addition to Business Kuopio, other important regional partners of Nostetta Ventures include Navitas Business Services, business services of the City of Iisalmi, Business Center Pohjois-Savo, Kuopio Region Chamber of Commerce, University of Eastern Finland, Savonia University of Applied Sciences, Kuopion Yrittäjät, Savon Yrittäjät, FiBAN, NSES, Hub Panostamo, the Centre for Economic Development, Transport and the Environment (ELY Centre), Business Finland and Finnvera.

Text by Minna Akiola
Photos: Nostetta Ventures