AaltoPEC’s 3+1 Interview: Managing Director of the Finnish Venture Capital Association
In this series, we interview professionals from the Private Equity industry. The first two questions are about the career path of our interviewee and the third one is related to the company they represent. Last but not least, we ask what would they like to say to students interested in the fields of Private Equity and Venture Capital.
Pia Santavirta, 44
Education
Master of Laws 1996-2001 (University of Helsinki)
Career highlights
Insurance expert at The Finnish Financial Ombudsman Bureau (Bank, Insurance and Securities Complaint Boards)
Associate at Castrén & Snellman Attorneys Ltd
Senior Officer at Ministry of Social Affairs and Health, Insurance Department
Head of Insurance and Corporate Affairs at Federation of Finnish Financial Services (Finance Finland)
Managing Director at the Finnish Venture Capital Association (current)
Other interests and hobbies
Spending time in the archipelago, either on a boat or on tour skates - with my family, of course.
How have you ended up in your current position?
Ever since I graduated from the University of Helsinki with a Master of Laws, I have been lucky to work in various positions within the field of finance. I started my career as a business lawyer and worked for example at Castrén & Snellman. Next, I did a secondment at the Insurance Department of the Ministry of Social Affairs and Health. I was in charge of a massive insurance-related EU-regulatory project and got a chance to work in Brussels during the Finnish EU Presidency 2006 which was an exciting and enriching experience.
I ended up pivoting into the world of lobbying as I proceeded to work for the Federation of Finnish Financial Services as their Head of Insurance and Corporate Affairs. We had a great team and worked closely with CEOs, Heads of Legal, actuaries, and all kinds of specialists from the insurance and banking world. I learned everything about how to do open and transparent lobbying with many different stakeholders. I stayed there for about nine years and had two kids before moving on to my current position at the Finnish Venture Capital Association after becoming extremely intrigued by the Finnish startup scene at Slush.
I have been with FVCA for five years now which has allowed me to experience first-hand the incredible growth of Finland’s Private Equity and Venture Capital industries. For example, in just five years 16 new venture capital funds have been announced. As international investors have also become increasingly interested in what Finland has to offer, FVCA’s membership base has doubled, and we have established our position as the largest office in the Nordics.
What skills do you need in your daily tasks?
The number one thing that comes to my mind is communication skills. I think everyone would benefit from the ability to tell the same message in various formats depending on the interests of different stakeholders. In my day-to-day job, it is essential to describe the societal impact of complex issues in an efficient way to experts and decision-makers.
Secondly, I would like to highlight the importance of networking. One should never underestimate how useful it is to build long-lasting and diverse connections. Networking is an extremely important skill regardless of which industry one works in. Thus, I strive to help someone, at least a single person, to move forward and achieve their goals daily. I truly believe in paying it forward.
How would you describe Finnish Venture Capital Association’s core purpose and activities? Could you give us some concrete examples?
The core mission of the Finnish Venture Capital Association is to promote the interests of Private Equity and Venture Capital investors in Finland. We aim to make Finland the best country in Europe for startup and growth companies, investors, and professionals. Bringing all these stakeholders together is crucial for the overall economic prosperity, competitiveness of the Finnish markets, and ensuring success stories of tomorrow. Therefore, we make sure that their perspective is considered in decision-making and legislative processes.
In addition, we also fulfill an informative function as we provide information to our stakeholders about the current developments within the industry.
Lastly, the association develops and maintains professional standards and guidelines for the industry in Finland. For instance, we have recently established multiple ESG-themed task forces that innovate new ways for the PE and VC industries to become pioneers in sustainability efforts and create value through that.
“Diversity and extraordinary ways of thinking are what drive
this field forward. ”
What is your message to students interested in the private equity industry?
Try to be open-minded and look past possible, misinformed stereotypes. The Private Equity industry is an extremely fascinating and stimulating field to work in because PE investors get to collaborate with a large variety of companies and bright individuals. As a part of this industry, one gets to concretely shape the business world of the future. For example, during the Covid-19 pandemic companies with private equity investors were able to leverage the expertise of these professionals and develop their business even in the middle of unprecedented times.
I find that the Private Equity industry allows for diverse career paths for people with different strengths and interests. Regardless of whether your educational or professional background lies in business, law, social sciences, STEM, or something completely different, your skills are valuable. Diversity and extraordinary ways of thinking are what drive this field forward. This is also one of the main reasons we have partnered with Aalto Private Equity Club - to encourage students from all disciplines to discover the world of Private Equity.