Since 2006, VTT Ventures has been making venture capital investments in spin-offs engaged in commercialising VTT's research results. These investments were booked in VTT's balance sheet until 2010, since when they have been made via VTT Ventures Ltd. VTT and VTT Ventures Ltd have invested in a total of 35 spin-off companies. The current turnover of these companies is around EUR 32 million and they have around 300 employees. The companies have attracted funding of around EUR 45 million.
VTT's spin-offs are early-stage, technology-intensive growth companies. Technological and commercial innovation, team competencies and international potential are the key criteria when selecting target companies. VTT Ventures' mission is to develop commercialisation-ready prototypes from the most promising technologies. Its activities are one of the keys to creating a flow of projects with investment potential.
VTT Ventures Ltd works in close collaboration with other actors in the innovation network. Its investments in portfolio companies are market-based and follow the same principles as venture capital investors. In Finland and internationally, VTT Ventures has an extensive partner network with private equity investors.
The year 2015 saw a strong flow of projects. There was sharp growth in the number of new spin-off projects compared to 2014. VTT Ventures made investments of around EUR 1.7 million. During 2015, VTT Ventures exited from one company and decided to invest in two new spin-offs. There were 21 companies in the portfolio at the end of the year. In 2015, these companies attracted around EUR 8.2 million in new capital. The financial year was profitable for VTT Ventures.