Varma puts roughly €68 million into Sensofusion’s Helsinki IPO

Varma took a stake worth about €68 million in Sensofusion’s Nasdaq Helsinki offering. The investment adds a major Finnish institutional investor to the company’s shareholder base as it enters the public market.

Sensofusion started trading on the exchange’s prelist on Oct. 9 and transferred to its regulated market on Oct. 13, exchange notices show. Its post-offering valuation was about US$1.6 billion, on the assumption that the over-allotment option is exercised in full.

What the investment supports

The IPO investment follows Varma’s involvement in a funding round in late 2025, when Sensofusion raised about €45 million. Varma said the funds were intended to help the company expand and develop its business.

Varma has also provided more than €1 billion in financing to Finnish growth companies over the past five years, according to its announcement. Timo Sallinen, a Varma director, said Sensofusion is profitable and growing, and that Varma sees the potential for it to become a leading global company in its sector.

Who else backed the IPO

Varma joined Finnish pension insurers Elo and Ilmarinen and funds managed by OP Fund Management as a cornerstone investor in the offering. The investors initially committed about €170 million in total, Sensofusion said.

The approximately US$1.6 billion valuation is based on full exercise of the over-allotment option. Sensofusion’s announcement does not provide a valuation excluding that assumption or specify how the final allocation was divided among the cornerstone investors.

This report draws on information from Markets Group.