Finnish Industry Investment’s share capital raised by EUR 50 million

4.9.2014

Ministry of Employment and the Economy (MEE)
Press Release 168/2014
4 September 2014

The Finnish Government authorised the Ministry of Employment and the Economy on 4 September 2014 to subscribe for Finnish Industry Investment Ltd’s shares and to increase the share capital of the company by EUR 50 million. The share issue is intended for promoting the renewal, diversification and growth of industrial companies as well as for venture capital investments boosting growth in the bioeconomy, cleantech and healthcare sectors.

The investment programme for industrial renewal is a part of a broader government approach aimed at strengthening the position of industry as a dynamic element in Finland’s economic structure. A total of EUR 100 million financing is planned for the programme, through appropriations in 2014 (1st supplementary budget) and 2015. The Government outlined the policy in its growth and employment package in the spring budget framework talks.

Industry Investment has already started preparations for launching the programme, which are proceeding according to plan. In principle, the company will be ready to make investments under the new programme within the next few months. The EUR 100 million of investments to be channelled through Industry Investment will collect altogether EUR 300-400 million of financing for SMEs by having a catalyzing effect on private capital.

Finnish Industry Investment invests in growth companies, both directly and through private equity funds, together with and on the same terms as private investors. The company has assets under management amounting to over EUR 900 million. The company has invested, directly or through funds, in some 515 companies, which together employ over 50,000 people.

 

For more information, please contact:

Tiina Ingman, Ministerial Adviser, MEE, tel. +358 29 50 63656