Illusian is the Helsinki-based founder office of Ilkka Paananen, co-founder and CEO of Supercell, and other entrepreneurs who have built and scaled companies like Supercell, Zalando, and Wolt. It backs European startups and scale-ups from pre-seed to growth through venture capital and also supports philanthropic initiatives.
33% of their portfolio is in AI. Deal activity decreased year-over-year (2 deals in the last 12 months vs 3 prior). Their most common stage is series-a (56% of deals). Average disclosed round size is $15.9M (across 4 rounds with reported amounts).
Portfolio
9
Fund Size
—
Top Stage
Series A
Last 12 Mo
2
Team
Kyle Zeno Macdonald
Managing Director
Teemu Korhonen
Partner
Katariina Helaniemi
Leading Impact (VC & Philanthropy)
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
Top Co-Investors
Last updated: 20 October 2026