Tesi launches 150 million euro fund-of-funds

Investments in funds - 2017-10-25

Since 2009, the KRR fund-of-funds concept has accelerated the growth and internationalisation of 150 companies

Helsinki, Finland - Tesi, in co-operation with Finnish institutional investors Ilmarinen, Keva, VER, Elo, LähiTapiola and Fennia, has established a new fund-of-funds KRR III. Similarly to its predecessors, KRR III invests in Finnish venture capital and small buyout funds. Its total capital is 150 million euros.

”KRR is a great example of collaboration between Tesi and Finnish pension and insurance companies to ensure that Finnish companies are able to raise capital to grow on international markets. KRR plays a significant role in accelerating the growth of these companies,” says Mika Lintilä, Minister of Economic Affairs.

In 2009-2017, KRR I and KRR II invested in altogether 19 Finnish venture capital and small buyout funds. These funds have, to date, invested in roughly 150 companies generating a total turnover of 1,6 billion euros and employing 13 000 people. With KRR III in place, the number of portfolio companies will be more than 300.

“As a repeated investment vehicle, KRR III ensures the continuity of capital supply to selected risk capital funds in Finland. In addition to capital, these fund managers will bring their own expertise and networks to their portfolio companies,” comments Jan Sasse, CEO at Tesi.

“We are excited about participating in KRR III. For us, KRR provides an efficient way to participate in the growth of many companies through only one investment decision,” says Esko Torsti, Director at Ilmarinen. “This is a great way to combine profitable investments with a positive economic and societal impact,” points out Markus Pauli, Director at Keva.

For more information, please contact:

Jan Sasse, CEO, Tesi
Tel. +358 40 861 9151, e-mail: jan.sasse(at)tesi.fi


Tesi
(Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi / @TesiFII