Industry Investment invests in the new Teknoventure fund - New fund develops the venture capita investment in Northern Finland

7.6.2002

Teknoventure Management Oy's new venture capital fund Teknoventure Rahasto II Ky was founded in Friday June 7th. The size of the fund is 15 million euros and it's largest of the funds administrated by the Teknoventure Management. New fund focuses on investments in seed and growth stage companies in Northern Finland to create better conditions for growth and company restructruring.


Industry Investment's share 4 MEUR

Most of the investors of the Teknoventure Rahasto II Ky are national organs. The Industry Investment's share of the fund is four million euros. Other investors are insurance companies Ilmarinen, Suomi, Pohjola and Eläke-Fennia and the Finnish National Fund for Research and Development, Sitra. The participation of two local banks (Oulun Osuuspankki and Raahen Seudun Osuuspankki) is also notable.


New fund strengthens the development of regional venture capital investment in Northern Finland

According to the Managing Director of Teknoventure Management Oy, Ilkka Lukkariniemi, the new fund is very important for the development of venture capital investment in Northern Finland. "The fund enables the venture capital invetment and development of potential growth companies and seed stage companies."

Teknoventure Management Oy is an independent venture capital investment company that operates in Northern Finland. It administrates four venture capital funds: Teknoventure Oy, Lapin Rahasto I Ky, Jokilaaksojen Rahasto I Ky and Teknoventure Rahasto II Ky. With the new fund, the capital adminstrated grew up to 35 million euros. At the moment the funds are investors in 25 companies. The amount invested to the target companies is 10 million euros. The total turn over of the partnership companies is approximately 140 million euros and they employ almost 700 people.


Further information:

Managing Director Ilkka Lukkariniemi, Teknoventure Management Oy,
Phone + 358 40 5547657 or +358 8 8873330
www.teknoventure.fi