Impact Investing

Impact Investing

Impact investing is a growing global phenomenon. Interest in new forms of financing is also growing in Finland, where the public sector is struggling with cost pressures.

We are here to help our clients succeed in this new field, which is just taking shape. Our finance, public sector project and corporate form experts design legally insightful operating models that are tailored to the Finnish regulatory environment and harmonised with state aid and public procurement rules.

We speak the same language as the diverse operators in this field which enables us to bring them together. We also actively promote the development of the operating environment through domestic and international organisations, such as the European Social Enterprice Law Association (ESELA).

Latest references

We advised FIM in the establishment of the SIB fund focused on promoting child and youth welfare, including drafting documentation and addressing taxation questions. Social impact bonds (SIBs) are a good example of a new form of investment, which seeks to achieve social goals in addition to financial profit. The SIB fund established in this project is managed by FIM together with the Finnish Central Union for Child Welfare, the participating Finnish municipalities and the Finnish Innovation Fund Sitra. The activities of the fund are guided by representatives of the municipalities, the Central Union for Child Welfare and partner organisations providing child and youth services. The assets of the fund are used to finance projects promoting child and youth welfare. The fund’s profit is tied to the achievement of joint welfare goals, and the cost savings achieved are distributed between the municipalities and the fund’s investors. The fund is intended for professional investors.
Case published 12.2.2019
We advised Efima Oyj on the sale of its financial management services business to Rantalainen as part of its strategic focus on fully concentrating on the delivery of business applications as well as data and AI solutions. As a result of the transaction, customer contracts related to financial management services and 65 experts working in these services will transfer to Rantalainen. The transaction will be carried out as a transfer of business, and the experts will move to the new owner as existing employees. Efima is a Finnish digital company that supports the sustainable growth of large and mid-sized companies by streamlining their business processes and by creating competitive advantage through the innovative use of artificial intelligence and data. The company has nearly 200 experts based in Helsinki and Tampere.
Case published 12.6.2026
We advised lead investor Ugly Duckling Ventures on the EUR 6.5 million funding round of Skyfora. The round also included Eviny Ventures, LUMO Labs and EIC Fund, alongside non-dilutive funding from Business Finland. The investment will support the commercial scale-up of Skyfora’s weather intelligence solutions, the expansion of partnerships with telecom operators, forecasting providers and meteorological institutions, and the continued growth of the team. Skyfora is a Finnish company developing high-resolution weather data solutions using patented technology that extracts atmospheric data from GNSS receivers embedded in existing infrastructure, such as telecom networks. By unlocking previously untapped data sources, Skyfora enables the next generation of AI-driven weather forecasting and supports improved decision-making across weather-sensitive industries. Ugly Duckling Ventures is a Copenhagen-based venture capital firm focused on early-stage Nordic B2B technology companies, with an emphasis on medtech, resilience tech and business services.
Case published 10.6.2026
castren snellman general atlantic iceye
We advised General Atlantic as the lead investor on ICEYE’s EUR 1 billion series F funding round, valuing the company at over EUR 10 billion. ICEYE raised EUR 450 million (USD 520 million) in a primary Series F funding round led by General Atlantic. Additional investors included Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, Nokia, Qatar Investment Authority (QIA) and TCV. Together with a secondary placement, the total fundraising exceeds EUR 1 billion. ICEYE is the world leader in sovereign intelligence from space, providing continuous monitoring capabilities to detect and respond to changes in any location on Earth. The company operates the world’s largest and most advanced Synthetic Aperture Radar satellite constellation. General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 885 companies throughout its history. As of March 31, 2026, General Atlantic manages approximately USD 126 billion in assets across its investment strategies. We advised General Atlantic on this transaction in collaboration with the international law firm Paul, Weiss, Rifkind, Wharton & Garrison.
Case published 9.6.2026