Sponsors
Lifeline SPAC I is a limited liability company established in August 2021 by founding partners Tuomo Vähäpassi and Mikko Vesterinen.
Lifeline SPAC I has raised working capital from so-called sponsors in order to organize an IPO and to carry out operations. Sponsors include Timo Ahopelto, Kai Bäckman, Petteri Koponen, and Juha Lindfors, who have long experience working together in venture capital financing.
Of the sponsors, Timo Ahopelto and Petteri Koponen have from the start participated in founding and building Lifeline Ventures private equity firms (LLV Fund Management Oy, Lifeline Ventures Fund Management Oy, and funds managed by them), with successful operations since 2012 as a seed and early-stage growth investor in technology-focused companies.
All Lifeline SPAC I’s sponsors are currently partners in Lifeline. The sponsors invest in Lifeline SPAC I personally, not via the Lifeline companies.
Lifeline SPAC I’s operations have been organized so that the company’s executive management is in charge of analyses and preparatory work so that the Sponsor Committee’s time and expertise can be used especially in the analysis of questions other than those related to valuation and in supporting the Management Team’s work. The role of the sponsors in to provide consultancy to the company’s executive management.
Sponsor Committee
The company’s Board of Directors has established a Sponsor Committee from among its sponsors to evaluate acquisition targets and to form proposals to the Board for possible acquisitions. The Chair of the Sponsor Committee will be Ilkka Paananen, with whom the sponsors will be acting under the Company’s Board of Directors.
Read more about the company’s Board of Directors
Lifeline SPAC I’s operations have been organized so that the company’s executive management is in charge of analyses and preparatory work so that the Sponsor Committee’s time and expertise can be used especially in the analysis of questions other than those related to valuation and in supporting the Management Team’s work. The role of the sponsors in to provide consultancy to the company’s executive management.
The Sponsor Committee comprises the following persons:
Ilkka Paananen
Chair of the Sponsor Committee since 2021
b. 1978
Master of Science in Industrial Management
Finnish citizen
Holdings: 50,000 series A shares, 194,118 series B shares and 220,003 sponsor warrants. Subscriptions have been made through Paananen’s controlling entity Illusian Oy.
RELEVANT WORK EXPERIENCE
- CEO, and Co-founder of Supercell Oy since 2010
- President of Digital Chocolate in 2010, President of Studios 2006–2009, and Managing Director of Europe 2004–2006
- CEO and Co-founder of Sumea Oy in 2000-2004
Relevant work experience
- Chair of the Board of directors of Wondershop Oy since 2020
- Member of the Board of Directors of Papukaya Oy since 2020
- Member of the Board of Directors Zwift Inc. since 2020
- Member of the Board of Directors of Wolt Enterprises Oy since 2016
- Chair of the Board of Directors of We-foundation since 2015
- Member of the Board of Directors Supercell Oy since 2010
Juha Lindfors
Sponsor and a Member of the Sponsor Committee since 2021
b. 1973
Master’s Degree in Economics
Finnish citizen
Holdings: 394,302 series B shares and 446,875 sponsor warrants. Subscriptions have been made through Lindfors’ controlling entity Långdal Ventures Oy.
RELEVANT WORK EXPERIENCE
- Partner of Lifeline Ventures since 2016
- Partner at EQT Partners in 2003-2007, Director in 2001-2002, and Associate in 1998-2000
- Analysts of Cultor Group in 1996–1998
POSITIONS OF TRUST
- Member of the Board of Directors of Mjuk Group Ab since 2021
- Chair of the Board of Directors of Realstocks Oy since 2018
- Member of the Board of Directors of Solar Foods Oy since 2018 and Chair of the Board of Directors since 2020
- Member of the Board of Directors of Blok Enterprises Oy since 2018 and Chair of the Board of Directors since 2020
- Member of the Board of Directors of Sulapac Oy since 2017
- Member of the Board of Directors of Swappie Oy since 2017
Kai Bäckman
Sponsor and a Member of the Sponsor Committee since 2021
b. 1975
Studies in software engineering
Finnish citizen
Holdings: 394,302 series B shares and 446,875 sponsor warrants. Subscriptions have been through Bäckman’s controlling entity Decurion Ventures Oy.
Relevant work experience
- Partner at Lifeline Ventures since 2016
- Software architect at Autodesk, Inc. in 2015–2016
- CEO and founder at Airstone in 2013–2015
- CEO and founder at Tinkercad in 2010–2013
- Software architect at Google in 2006–2010
- Founder at Mistaril Oy in 2002–2006
- Software design consultant for various companies in 1993–2000
Positions of trust
- Member of the Board of Directors of Vensum Oy since 2019
- Member of the Board of Directors of Seaber Ltd since 2019
- Chair of the Board of Directors of TimeGate Instruments Ltd. since 2018
- Board of Directors of Aiven Ltd since 2017
Timo Ahopelto
Chair of the Board of Directors since 2021, Sponsor and a Member of the Sponsor Committee since 2021
b. 1975
Master of Science in Industrial Engineering
Finnish citizen
Not independent of the company or its major shareholders
Holdings: 394,302 series B shares and 446,875 sponsor warrants. Subscriptions have been made through Ahopelto’s controlling entity TA Ventures Ltd.
Relevant work experience
- Founding Partner of Lifeline Ventures since 2009
- Business Director of Blyk in 2006–2009
- Founder CEO and Commercial Director of CRF Health in 2000–2006
- Consultant at McKinsey & Company in 1999–2000
Positions of trust
- Member of the Board of Directors of TietoEVRY Oyj since 2017 and Vice-Chair of the Board since 2021
- Member of the Board of Directors of Solidium Oy since 2017
- Chair of the Board of Directors of Digital Workforce Services Ltd since 2016
- Member of the Board of Directors of Oura Health Ltd since 2016
- Member of the Board of Slush since 2014 and Chair of the Board since 2019
- Member of the Board of Directors of Finnish Business and Policy Forum (EVA) since 2014
- Member of the Board of Directors of Economic Research (ETLA) since 2014
- Member of the Board of Directors of the Innovation Committee of the University of Helsinki since 2014
- Member of the Board of Directors of TILT Biotherapeutics Ltd since 2014
- Chair of the Board of Directors of Norsepower Oy Ltd since 2013
- Member of the Board of Directors of Business Finland Oy (former Tekes) in 2014–2020
- Founder and Chair of the Board of Directors of Wave Ventures Ltd in 2016–2018
- Member of the Board of Directors of the Startup Foundation in 2015–2017
Petteri Koponen
Member of the Board of Directors, Sponsor and a Member of Sponsor Committee since 2021
b. 1970
Studies in Technical Physics and Economics
Finnish citizen
Not independent of the company or its major shareholders
Holdings: 394,302 series B shares and 446,875 sponsor warrants. Subscriptions have been made through Koponen’s controlling entity Sofki Oy.
Relevant work experience
- Founding partner of Lifeline Ventures since 2009
- New Business Development at Google in 2008–2009 and in the product management team in 2007–2008
- Co-Founder and CEO of Jaiku Oy in 2006–2007
- Advisor and Product Development Director at Blyk Oy in 2006–2007
- Founder, CEO and the Chair of the Board of Directors of First Hop Oy in 1997–2007
Positions of trust
- Chair of the Board of Directors of Wolt Enterprises Ltd since 2018
- Member of the Board of Directors of Supercell Ventures Ltd since 2017
- Chair of the Board of Directors of Varjo Technologies Oy since 2016
- Member of the Board of Directors of Smartly.io Solutions Ltd since 2014, of which in 2017–2020 as Chair
- Member of the Board of Directors of Elisa Corporation in 2014–2020
- Member of the National ICT Monitoring Group in 2013– 2019
- Member of the Board of Directors of the Startup Foundation in 2012–2014
- Member of the Board of Directors of Applifier Oy in 2010–2014
- Chair of the Board of Directors of Supercell Ltd in 2010–2013
Sponsor and Lifeline Ventures networks
The investment history of Lifeline’s funds and sponsors include significant portfolio companies such as Oura, Smartly.io, Supercell Swappie and Wolt. Lifeline is an exceptionally successful venture capital firm also at the global scale and has been able to generate excellent returns through its investments. Thus, Lifeline has the proven ability to create value for the companies that it acquires, and the sponsors are now prepared to provide the company with this expertise through the capital raised in the public offering.
Read more about Lifeline Ventures