This single family office from Finland is a biotech investor [2022]

This article directly stems from the research process for our Scandinavian single family office database. Our list of venture capital focused single family offices includes the most important family investment vehicles that invest in promising startups, amongst others within the biotech sector.

You might also like the list of the 700 largest biotech venture capital investors, curated by our partner portal ThousandInvestors.

Ilkka Paananen is the founder of Finnish game development studio Supercell. The firm, which was launched in 2011, is today one of the leading global game development firms. Portfolio games include Clash of Clans, Sunshine or Clash Royale. In 2016, Chinese internet firm Tencent acquired a majority stake of the firm for €8.6BN, making Paananen a billionaire. Today, Paananen invests through his family office Illusian in startups. 

Paananen family office as investor for biotech startups

Illusion, the family office of Ilkka Paananen, invests in different areas. For instance, portfolio companies like Solugen or Gameto are active in the biotech field. Gameto works on a „cell engineering platform“ to cure diseases of the female reproductive system, thereby tackling an area so far neglected by research. Another exciting portfolio company of the single family office from Finland is Solugen, which works on proprietary engineered enzymes, thereby combining fermentation with petrochemical process engineering. However, Illusian is also investing in other tech-driven areas. For instance, in October 2022, the family office invested in the €21M funding round of Bob W., which is a tech-driven hospitality provider. 

Picture source: National Cancer Institute