Ilkka Paananen joins Lifeline Ventures

We are happy to announce today that Ilkka Paananen, the Nordic games industry pioneer and entrepreneur, is part of Lifeline Ventures.

We have been  already working together for few months with three companies – – to be announced soon. It has worked well for all, and especially for the entrepreneurs.

Lifeline Ventures is a different start-up accelerator. Ilkka adds games and entertainment to our Web and digital media experience, and lives and breathes the Lifeline model.

The official release is below. Welcome to Lifeline, Ilkka!

—

November 10, 2010. Helsinki, Finland – Ilkka Paananen joins Lifeline Ventures, the early-stage investor in health and Web, as Entrepreneur-in-Residence and Partner.

“Ilkka is one of the most successful and experienced entrepreneurs in the Nordic games industry. He has successfully built large teams from scratch and managed companies through rapid international growth. Ilkka is the perfect match for Lifeline Ventures, experienced in working hands-on with entrepreneurs and adding to our digital entertainment competence”, comment Lifeline’s co-founders Timo Ahopelto, Jarkko Joki-Tokola and Petteri Koponen.

“Lifeline has developed a new model for early-stage venture capital. I am impressed with the quality of the portfolio, and look forward to building the games and entertainment sector further. I believe we can make Lifeline the preferred partner for the best entrepreneurs in this space”, comments Ilkka Paananen.

Lifeline Ventures was founded twelve months ago and has made ten investments to date. Its portfolio includes such category-leading health and Web companies as Applifier, the World’s largest cross-promotion network for Facebook games and Valkee, the maker of the bright light headset that effectively relieves seasonal affective disorder symptoms.

Ilkka Paananen was the CEO and co-founder of Sumea, the mobile games pioneer that was acquired by Digital Chocolate in 2004. At Digital Chocolate, Ilkka held various management team positions from Managing Director of Europe to President of Digital Chocolate. In the latter role, he oversaw the publishing and development of the company’s product portfolio, managing Studios in Helsinki, Barcelona and Silicon Valley.

About Lifeline Ventures

Lifeline Ventures is an early-stage investor that co-creates growth companies in health and Web. The company invests in revolutionary ideas and driven entrepreneurs, often before the product launch. The Lifeline team works hands-on with the entrepreneurs to build their startup into a global category leader. More information: http://www.lifelineventures.com