It's exciting to hear more money and resources are going to be flowing into Finnish fashion and design brands - Royal Majestics, the Finnish accelerator with a focus on Finnish fashion and design, announces it is expanding its venture capital arm with the announcement of a new €5 million fund coming from private investors and the state-owned investment company Finnvera. The fund's investment time is three years, and will operate over eight years.
Royal Majestics write that within 20 years they wish to bring Finland among the top fashion and design players in the world, which means new collaborations with the tech industry. The fund has already made its first investment in a company that combines jewelry design and 3D printing, showing this fund isn't going into boutique design houses.
The accelerator is a member of the Vigo chain of accelerators, an initiative by the Finnish government to increase the reinvestment of knowledge and capital into new growth companies.