vuosikirja / yearbook 2007 – 2008 - Suomen pääomasijoitusyhdistys ry

FOREWORDfvca10The passed year, 2006, was favorable for theFinnish venture capital and private equity industry.The success was driven by good exitsmanaged by many funds advised or managedby Finnish venture capital houses. The fundraisingactivity stayed also on a high level.These are signs of a sound industry and functioningmarket around us.Venture capital and private equity is doingwell in general in the world. The volumesof new funds raised into new buyout fundsare exceeding the old records. The long lastingdry season of venture capital is also over.The increasing number of new venture fundsraised in the Nordics, in Europe and in theUSA tells us about the importance of venturecapital for speeding up innovations and startingnew businesses.In Finland the discussion has gone aroundthe themes like innovation, starting up companies,establishing a new industrial base andcreating jobs instead of those gone to emergingproduction countries. The new governmentof Finland has taken these subjectsseriously in their new government program.The Finnish Venture Capital Association hasworked intensively with other related organizationsto give ideas and advice to the policymakersand legislators in order to find incentives,remove barriers and create the spirit ofentrepreneurship and a favorable atmospherefor growth companies.The private equity industry has reached astrong position as an investment class amongthe institutional investors. The aim of the toporganization, European Private Equity andVenture Capital Association, along side withthe national associations is conveying themessage about the positive impact of the industryon the society and economy. The studiesof private equity and venture capital showclear results in creating jobs and starting newgrowth companies. The FVCA has decided toperform a corresponding study in Finland in2007. The first results will be reported by theend of the year.MATTI TURUNENChairmanFinnish Venture Capital Association