Vicus Capital Advisors provides advisory and investment management services with special focus on real estate. Our team has extensive experience from real estate investment, development, and fund management.

Since 2005, we have been operating in the Finnish, Baltic, Russian and Ukrainian real estate markets, and since 2016 in the CEE markets.

Our advisory services cover real estate transactions and various matters related to ownership and financing strategies. We also raise capital for growth companies and real estate projects. The team with background in investment banking is capable of handling complex assignments and transactions.


Markus Jaakonsaari

Managing Director

M.Sc. (Econ.), b. 1971

Markus is the Managing Director of Vicus Capital Advisors. Prior to co-founding the company in 2005, he worked in investment banking since 1995, latest as Director at Conventum Corporate Finance. In Vicus Capital Advisors, Markus has been responsible for a large number of development projects, transactions, fund raising and advisory projects, as well as for CEO functions since 2013.

Ville Siivonen


M.Sc. (Econ.), M.Soc.Sc., LL.M., b. 1978

Ville has worked for Vicus Capital Advisors since 2005. Prior to joining the company, Ville worked as an Analyst at Conventum Corporate Finance and as an Equity Analyst at Nordea. In Vicus Capital Advisors, Ville's responsibilities include investment transactions, financing, and development project management as well as advisory work.

Matti Pajari


M.Sc. (Econ.), CFA, b. 1969

Matti is a Director of Vicus Capital Advisors. Prior to Vicus, Matti worked as an investment banker, latest as a Director at Conventum Corporate Finance and as a consultant and Vice President at Jaakko Pöyry Consulting. In Vicus Capital Advisors, Matti's responsibilities include bank financing, financial management and investment transactions.


Juho Lipsanen

Chairman of the Advisory Board

M.Sc. (Econ.), b. 1961

Juho was invited as the Chairman of the Advisory Board in 2020. He is the former CEO of TeliaSonera and Alma Media. Juho has extensive experience in sustainable investments and technologies as Regional Partner in Alder Fund and, formerly, as CEO of ABB New Ventures. He is a board member in many family and private equity owned companies such as Onvest, Isku and Hollming. His previous board positions include companies such as Coronaria and Ilmatar Windpower.

Juha Mikkonen

Member of the Advisory Board, Founder

M.Sc. (Econ.), b. 1962

Juha is the founder of Vicus Capital Advisors as well as a former Managing Director and Chairman of the Board. Prior to entering real estate investment business in 2005, Juha had a long career in investment banking. He was a co-founder of leading Finnish investment banks Prospectus in 1993 and Conventum in 1996. Juha also worked as Managing Director of Conventum Corporate Finance in 1999-2005.

Harri Walden

Member of the Advisory Board

M.Sc. (Econ.), b. 1962

Harri is one of Finland's most experienced internationally orientated investors. He was invited to the Board of Directors of Vicus Capital Advisors in 2015 and served as the Chairman of the Board in 2018-2019. Harri participates in strategic work and brings his long-term investment experience, strategic know-how and collaboration opportunities to Vicus Capital Advisors.