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Varma
Pension fund · Founded 1998 · Helsinki, Finland
Who Varma is.
- Historical Background
- Varma Mutual Pension Insurance Company was established in 1998. The company was formed through the merger of Pension-Sampo and a significant part of Pension-Varma.
- Source of Capital
- Varma's capital is derived from statutory earnings-related pension insurance contributions for employees and self-employed individuals in Finland. As a mutual company, Varma is owned by its client companies, self-employed customers, and insured employees.
- Allocation Strategy
- The company invests across a diversified range of asset classes, including listed equities, fixed income, real estate, and alternative investments such as private equity and hedge funds. Geographically, the portfolio has a global scope, with investments in Finland, other parts of Europe, North America, and emerging markets. Varma's stated investment goal is to secure pension assets through diversification and long-term returns, ensuring the financial security for current and future pensions.
The funds Varma backs.
Varma is a limited partner in 150 funds. 6 of them place in the Power Law Investor Ranking; those lead, best-ranked first.





























How Varma’s fund book is spread.
The 150 funds Varma backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters, across the 146 of 150 with a location on record.
- Europe 6947%
- North America 6847%
- Rest of world 96%
United States 67 · Finland 27 · United Kingdom 21 · Germany 6
How established those managers are
Managers grouped by how many funds they have raised — across the 87 of 150 with a fund history on record.
The companies Varma backs directly.
Varma holds 10 companies directly, separate from the funds it commits to as a limited partner.










Inside Varma’s portfolio.
The 10 highest-funded portfolio companies, of 10 tracked.
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ESWhere Varma’s portfolio founders come from.
20 founders across the 10 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.
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Finland17
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United Kingdom3
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Aalto University4
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University of Oulu3
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KTH Royal Institute of Technology2
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Teknikhögskolan2
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Anna University1
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Arcada University of Applied Sciences1
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Chung Ling (National Type) High School 鍾靈(國民型)中學1
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Hanken School of Economics1
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INSEAD Business School1
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KU Leuven1
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Aalto University3
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Nokia Corporation3
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Nomura3
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Navi Wheel2
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AAC Clyde Space1
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Absa bank1
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Amazon1
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BMW Group1
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Greentech Capital Advisors1
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INSEAD Business School1
Other LPs.
Other pension funds in the Power Law LP ranking, closest to Varma by combined power-law score — Europe first, then the nearest worldwide.