Jussi Mäkikangas

Senior Associate, Master of Laws

Services

  1. Private Equity
  2. Venture Capital & Minority Investments

Contact details

I advise our domestic and international clients in private equity transactions. I have particular experience in growth and minority investments. In addition, I regularly work on assignments relating to mergers and acquisitions and general corporate and contract law.

Prior to joining Castrén & Snellman, I gained experience working as a senior tax clerk in Finnish Tax Administration and as a trainee in another Finnish law firm.

I have a Master of Laws degree from the University of Turku. In addition, I have studied law at Trinity College Dublin in Ireland.

Latest references

Stena Line – Acquisition of NLC Ferry (Wasaline)
We are acting as legal adviser to Stena Line on its acquisition of NLC Ferry Ab Oy (Wasaline), strengthening Stena Line’s position in the Baltic Sea and enabling it to take over operations of the ferry route between Umeå in Sweden and Vaasa in Finland. The acquisition further strengthens Stena Line’s position as one of the leaders in sustainability within the ferry industry and enhances the company’s access to alternative fuels whilst providing a strong intermodal transport link towards Gothenburg and Trelleborg, and onwards to the European continent. NLC Ferry, operating under the auxiliary name Wasaline, were owned by Kvarken Link, a company jointly owned 50/50 by the cities of Umeå and Vaasa. Wasaline is the world’s northernmost shipping company, operating daily passenger and freight services between Vaasa, Finland and Umeå, Sweden, and is the first carbon-neutral ferry operator in the Baltic Sea with its hybrid vessel, Aurora Botnia, which runs on biogas and batteries. Stena Line is one of Europe’s leading ferry operators, with 20 routes across the continent. The company is family-owned, was founded in 1962 and is headquartered in Gothenburg, with 6,550 employees and an annual turnover of 19.6 billion SEK. The transaction is conditional to the approval of the respective municipal councils of Umeå and Vaasa as well as customary closing conditions such as authority approvals. The completion of the transaction is expected to take place in the beginning of the year 2026. Castrén & Snellman is collaborating with CMS Wistrand, Stena Line’s advisor on Swedish law matters in connection with the transaction.
Case published 4.11.2025
Springvest – ReOrbit’s EUR 45 million Series A funding round
We advised Springvest Oyj in organising a EUR 45 million Series A funding round for ReOrbit, a space technology company and a leading provider of software-first satellites. It’s the largest all-equity Series A round in Finland and one of the most significant deals overall in the European space and defence sector. The purpose of the funding round is to support ReOrbit’s growth. The round consisted of a private placement reserved for professional and institutional investors, which included, e.g. Icebreaker.vc, Expansion VC, 10xFounders, Inventure VC, Varma Mutual Pension Insurance Company, and Elo Mutual Pension Insurance Company, and an EUR 8 million public share offering, which was oversubscribed within 4.5 hours. Springvest is a Finland-based investment firm that connects unlisted growth companies with investors. ReOrbit builds sovereign satellites and connected systems for national security.
Case published 9.9.2025
Ten Eleven Ventures & Tesi – EUR 275 million Series B financing round of IQM Quantum Computers
Castrén & Snellman advised the lead investors Ten Eleven Ventures and Tesi in the EUR 275 million Series B financing round of IQM Quantum Computers, the global leader in building quantum computers. The round is largest Series B round ever in Finland and the second largest in the Nordics. In addition to the lead investors represented by C&S, the round was participated by several new and existing investors, including pension funds Elo Mutual Pension Insurance and Varma Mutual Pension Insurance, strategic investors Companies of Schwarz Group and Winbond Electronics Corporation, and sovereign wealth funds EIC and Bayern Kapital. Ten Eleven Ventures is the original cybersecurity-focused, global, and stage-agnostic investment firm. The firm identifies, invests in, and helps grow top cybersecurity companies addressing critical digital security needs, leveraging its team, network, and experience to build successful businesses. Since its founding, Ten Eleven Ventures has raised over USD 1 billion and made over 60 cybersecurity investments across various stages worldwide. Tesi (Suomen Teollisuussijoitus Oy / Finnish Industry Investment Ltd) is a state-owned investment company with an industrial policy mission focused on driving economic growth, renewal, and investments. Tesi invests on market terms both in venture capital and private equity funds, and directly in startups, scale-ups, and large industrial projects. IQM Quantum Computers, founded as a deep tech spin-off from Aalto University in 2019, specialises in developing quantum computers utilizing superconducting circuits. The company designs and produces quantum processors at its facility in Espoo, providing computing solutions and optimizations tailored to both research and industrial applications. In addition to its Finnish operations, IQM has expanded its presence to Germany, France, Italy, Japan, Poland, Spain, Singapore, South Korea, and the United States.
Case published 4.9.2025
Vapaus Group – Acquisition of Azfalte
We represented Vapaus Group, a leading provider of employee bicycle benefit services, in its cross-border acquisition of Azfalte, a French corporate bicycle solutions company. The acquisition accelerates Vapaus Group’s international expansion and strengthens its position in sustainable mobility by combining Vapaus’s digital platform and circular-economy capabilities with Azfalte’s established enterprise programs and partner network in France. The transaction advances Vapaus’s growth strategy and increases its ability to help employers meet well-being and sustainability goals in one of Europe’s most dynamic cycling markets. Vapaus Group is at the forefront of sustainable mobility services and has been a pioneer in the employee bicycle benefit sector since 2020 with a vision to become the leading bicycle benefit service in Europe. Vapaus has automated the employee bicycle process through its technology platform, covering payroll, invoicing, logistics, insurance, and financing. Azfalte, founded in 2020, is a pioneer of corporate cycling in France, optimizing financing, tailored bikes, insurance, maintenance, assistance, training, and carbon tracking for the benefit of its clients.
Case published 1.9.2025
OP Finland Infrastructure Fund – Conversion of convertible bond and additional investment in Lounea
We acted as legal advisor to OP Finland Infrastructure LP in connection with the conversion of the fund’s agreed EUR 50 million convertible bond into shares in Lounea Net Oyj in 2023. In connection with the conversion, the fund made a new additional investment of EUR 10 million in Lounea. As a result of the arrangement, OP Suomi Infra became a significant owner of Lounea Net Oyj with a 29% stake. Lounea is a Finnish optical fibre operator whose business consists of telecommunications infrastructure and ICT solutions. OP Finland Infrastructure is a fund investing in Finnish infrastructure. The fund is managed by OP Financial Group.
Case published 29.8.2025
Efima – Acquisition of Sparta Consulting
We acted as legal adviser to Efima Oyj in its acquisition of the entire share capital of Sparta Consulting Oy, a leading data management consulting firm. The acquisition strengthens Efima’s position as a strategic development partner for large and medium-sized enterprises and supports the company’s growth strategy and ability to meet the growing demand for intelligent, data-driven business solutions. Founded in 2012, Sparta Consulting specialises in comprehensive information management, and its clients are primarily large Finnish companies in the banking and insurance, energy, and telecommunications sectors. Efima Oyj is a Finnish digital company that promotes the growth of large and medium-sized enterprises by streamlining and automating business processes and creating competitive advantage through innovative use of artificial intelligence and data. The company has over 250 experts in Helsinki and Tampere.
Case published 3.6.2025
Readpeak – Capital Investment
We advised Readpeak in an arrangement where Finnish growth fund Voland Partners made an investment in Readpeak. Readpeak is a service platform specialising in native advertising for purchasing, designing, and targeting the distribution of advertising space. Readpeak has quickly risen to a leading position with its platform solution, which enables an easy way to target and schedule communications as part of the news feed on media sites. Readpeak is a company founded in Helsinki in 2014, which has since expanded to nine European market areas and collaborates with over a thousand publishers. Readpeak redefines content-driven advertising using advanced machine learning models, creating added value for both quality media and journalism. Voland Partners is a minority investor specialising in the development of technology companies, with a mission to work together with entrepreneurs to build successful companies responsibly, creating success stories that benefit the entire society. Readpeak is Voland Partners’ sixth investment target, into which the fund company is investing from its first growth fund of 57 million euros.
Case published 10.4.2025
KoBold Metals – Earn-In Agreement with Aurion Resources
We advised KoBold Metals on the Finnish legal and tax aspects related to its earn-in agreement with Aurion Resources. Under the agreement, KoBold (through its wholly owned subsidiary KoBold Exploration Finland Oy) can earn an undivided 75% interest in commodities discovered (other than any discoveries that are predominantly gold or silver), by incurring USD 12 million in exploration expenditures on or before the fifth anniversary of the date of signing the agreement. The exploration area covers approximately 35 km2 in Aurion’s 100% owned 160 km2 Risti Property in Sodankylä, Finland Following satisfaction by KoBold of the earn-in requirements, a joint venture will be established with KoBold owning 75% and Aurion 25%. KoBold Metals Company is a US-based exploration and mining company, supported by high profile investors such as Breakthrough Energy Ventures, Andreessen Horowitz, and Equinor. It combines expertise in geosciences with artificial intelligence, machine learning, and data science to improve and accelerate the exploration process in search of the critical minerals necessary for the global energy transition.
Case published 26.3.2025
Show more

Get to know our other experts in the field

Jarno Tanhuanpää
Position: Managing Partner
Primary service Private Equity
 +358 50 560 1130
Karlo Siirala
Position: Partner
Primary service Private Equity
 +358 40 527 6105
Tuomas Honkinen
Position: Counsel
Primary service Private Equity
 +358 40 760 1565
Freja Väyrynen
Position: Senior Associate
Primary service Private Equity
 +358 50 380 0579
Anton Helanterä
Position: Associate
Primary service Private Equity
 +358 45 788 18000
Helmi Puustinen
Position: Associate
Primary service Private Equity
 +358 50 501 7120
Aleksi Uusitalo
Position: Associate
Primary service Private Equity
 +358 45 782 04205