Finnish Industry Investment Ltd

Finnish Industry Investment Ltd, known as Tesi, is a state-owned investment company with an industrial policy mission focused on driving economic growth, renewal, and investments in Finland. Tesi invests on market terms both in venture capital and private equity funds, and directly in startups, scale-ups, and large industrial projects. As a market-driven minority investor, Tesi co-invests with private investors, aiming for both profit and impact while strengthening Finnish ownership. Tesi's investment capacity for the years 2025–2029 is €1.8 billion, with a strategic focus on scaling up domestic high-tech companies, supporting industrial-scale projects, and building larger Finnish funds. Tesi's investment principles include acting as a countercyclical investor and pursuing both profit and impact. Tesi's new investment strategy and financial framework for 2025–2029 were approved by the Finnish Government’s Ministerial Committee on Economic Policy, aiming to increase economic growth and industrial policy impact in conjunction with other government growth-promoting measures. Tesi's role as a market-driven minority investor is strengthened, with increased investment capacity to promote Finland’s economic growth, renewal, and investments. Tesi aims to leverage significant amounts of both national and international funding alongside its own investment activities into Finnish growth companies, new industrial sectors, and private equity and venture capital funds. Tesi also strengthens domestic ownership through its activities. Tesi's investment capacity is €1.8 billion for the years 2025–2029. Tesi will accelerate the commercialization, scaling, and export of internationally competitive innovations by investing in Finnish startups and growth companies. The investment strategy has been prepared for Tesi in accordance with the objectives set in the Finnish Government Program, the 300-million-euro direct investment program outlined in the spring 2024 framework session, and changes in the operating environment. According to the Government Program, state PE and VC and corporate financing activities will be clarified and streamlined by centralizing operations in the Finnish Industry Investment Group. Legislative changes concerning Tesi’s operations were approved on 17 Jan 2025 and will be implemented by a separate decree in the spring of 2025. The government’s main goal is to get Finland back on the path of growth. Tesi’s new investment strategy and stronger industrial policy role are part of this work. The new strategy responds to changes in the market and geopolitical operating environment and implements the objectives of the Government Program. For further information, Pia Santavirta, CEO, can be contacted at pia.santavirta@tesi.fi or +358 40 546 7749.