12.6.2019

The Idea of Finland

As Finnish society and politics are reorienting themselves, I cannot help but spend a moment thinking about what the idea of Finland will be in the future. How will the success story of an independent Finland that has developed into one of the world’s most well functioning societies continue? Climate change, trade wars, isolationism and the increasingly polarised and even hostile exchange of views cast shadows that make it easy to fall into pessimism.

Finland’s new government has taken the position that politics must provide people security and hope for a better tomorrow in a rapidly changing world. Politics and the public sector are important building blocks of a good world, but they are not the only ones. I persistently believe in the ability of individuals, communities and companies to face up to and solve problems. The solution can be found in every one of us—including as consumers. The state’s job is to provide a dynamic and fair legal environment to support this development. 

I have been happy to see how the Finnish business community has tackled the challenges of the day—whether in the form of biofuels, hybrid engines for cargo ships or green bonds. This change was not dictated by legislation or regulation, but had its start in companies and investors themselves seeing that reform is inevitable and also creates business opportunities.

We have also re-examined our own societal contributions at Castrén & Snellman. Sustainable and responsible business practices, such as caring for our employees and our environment, form one of the pillars of our firm.  Another pillar concerns our role as a corporate citizen. As a member of the Finnish Bar Association, we contribute to the rule of law and good legislation and engage in pro bono work in projects that benefit society as a whole.

Our third pillar—where our impact is the greatest—involves our clients: we help our clients meet the requirements of corporate responsibility in their businesses and to renew themselves sustainably. This is something we are focusing on more and more in all of the advice we provide.

Finland cannot solve global problems alone, but we can blaze a trail and be a responsible example for others. Disagreements are acceptable and to be expected, but we do need to find a shared way forward and put our trust both in ourselves and in each another. We need education, innovation, risk-taking, an international mind-set and, above all, hard work to ensure that Finland’s success story continues. Maybe that could be the idea of Finland.

Latest references

We advised the NATO Innovation Fund as lead investor on Kelluu’s EUR 15 million Series A funding round, with participation from Keen Venture Partners, Gungnir Capital, and Tesi. Kelluu is a Finnish deep tech company operating the world’s largest autonomous airship fleet. We advised NIF on this transaction alongside global law firm Latham & Watkins.
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Castrén & Snellman advised Nscale, a European AI infrastructure company, in connection with its planned data centre project in Harjavalta, Finland. The facility will be located in the Sievari industrial area. Castrén & Snellman’s advisory role encompassed the negotiation and execution of a site securing and development agreement (SSDA) with Fortum, as well as the preliminary land sale process for the Sievari site with the Town of Harjavalta. Under the SSDA, Fortum supports the advancement of Nscale’s project development, including grid connection design and permitting.
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We are acting as legal adviser to Taaleri Plc on its acquisition of a 51 per cent ownership stake in Nordic Science Investments Oy (NSI), marking Taaleri’s expansion into deeptech-driven venture capital. Through the transaction, Taaleri broadens its private equity offering into early-stage venture capital funds as well as the commercialisation and scaling of research-driven innovations. NSI is a Finnish venture capital fund manager operating across the Nordic and Baltic regions, focusing on early-stage investments in research- and science-based technologies. Its portfolio companies develop, among other things, health technologies, life sciences, advanced materials and AI-driven solutions. In addition to providing growth capital, NSI supports spin-out companies with strategic guidance, access to networks and assistance in building teams during the early phases of business development. NSI’s first fund, the EUR 45 million NSI Nordic Science I Ky, was established in 2024 and has to date invested in 22 early-stage companies in Finland, Sweden and the Baltic countries. Taaleri is a specialist in investments, private asset management and non-life insurance, with a strong position in renewable energy, bioindustry and housing investments as well as credit risk insurance. Taaleri has EUR 2.7 billion of assets under management in its private equity funds, co-investments and single-asset vehicles, employs approximately 130 people and is listed on Nasdaq Helsinki. The founders of NSI will continue in their operational roles following the transaction. The completion of the transaction is subject to approval by the FIN-FSA.
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We delivered two information design workshops for the legal department of the Finnish Centre for Pensions, with participants from both legal and other professional backgrounds. In the sessions, we applied the principles of legal design thinking to the Finnish Centre for Pensions’ field of operation and background materials, also utilising AI as a design tool. The participants found the tailored training highly useful and commended the trainers for their in-depth familiarisation with the Centre’s opinion drafting process and operating environment. As a result of the workshops, our experts proposed a new structural and linguistic model for the legal department of the Finnish Centre for Pensions for drafting opinions and guidelines. The proposal was well received as clear and applicable to the participants’ everyday work. In addition, we presented tailored AI use cases to support experts, allowing for a more efficient AI-assisted way of working. Our experts who delivered the workshops combined their legal expertise with their leading experience in legal design. The participants appreciated this versatile expertise, which enabled a knowledgeable, creative and applied approach to legal writing. ‘C&S created a well-structured training tailored to our needs, providing clear direction for our organisation and concrete takeaways for our experts in their day-to-day work,’ says Mari Kuunvalo, Head Of the Legal Department at the Finnish Centre for Pensions.
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