Pioneer SPAC Seeks to Fill Gap Left by Underfunded Finnish PE Hanna Hoikkala, Bloomberg News (Bloomberg) -- Finlandâs first blank-check company says it plays a unique role in providing especially fast access to capital, given the limited resources private-equity investors have in the Nordic nation. Virala Acquisition Company Oyj last month raised 107.5 million euros ($127 million) from investors in an initial public offering in Helsinki, and now has as long as three years to find a mid-cap company to buy. VAC, as the company calls itself, intends to give its target a quick way to fund growth as a public company and avoid having to sell to an industrial buyer, typically foreign, for lack of other options.