Finnfund wants to dump cash into fiber networks across emerging markets next year because Kuutti Kilpeläinen thinks the digital divide is getting worse while data consumption keeps climbing. The firm manages around 1.3 billion euros total, with 200 million already parked in companies pushing digitalization forward. They throw 200 to 250 million euros around every year, and 40 percent of that goes toward digital businesses.
The investment crew grew from two people to eight since 2021, and they back 15 companies at this point by writing checks between 5 and 20 million euros per outfit. Kilpeläinen pointed out that Africa only has 300 megawatts of data center capacity right now compared to hundreds of megawatts getting built annually in Malaysia and Thailand, so demand for local infrastructure will explode as AI adoption ramps up.
Finnfund backed Mexican fiber provider Netwey for underserved areas and Wave Mobile Money in Senegal, plus Côte d'Ivoire, which apparently costs 70 percent less than regular payment methods. They partner with local private equity firms and development banks to handle market screening and due diligence, and they run their own 80 million euro fund targeting 150 million to pull in pension funds and family offices.
The investment crew grew from two people to eight since 2021, and they back 15 companies at this point by writing checks between 5 and 20 million euros per outfit. Kilpeläinen pointed out that Africa only has 300 megawatts of data center capacity right now compared to hundreds of megawatts getting built annually in Malaysia and Thailand, so demand for local infrastructure will explode as AI adoption ramps up.
Finnfund backed Mexican fiber provider Netwey for underserved areas and Wave Mobile Money in Senegal, plus Côte d'Ivoire, which apparently costs 70 percent less than regular payment methods. They partner with local private equity firms and development banks to handle market screening and due diligence, and they run their own 80 million euro fund targeting 150 million to pull in pension funds and family offices.
