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 II is a €130m fund-of-funds with a 2014-2017 investment term. The FoF has given commitments amounting to €125,5m to 10 venture capital and small buyout funds.
Along with Tesi, the other co-investors in KRR II are Ilmarinen Mutual Pension Insurance Company, the Local Government Pensions Institution, Elo Mutual Pension Insurance Company and the State Pension Fund.
KRR I is a €135m fund-of-funds managed by Tesi. The fund’s investment term ended in December 2013. The fund invested in 11 Finnish venture capital and small buyout funds between 2009 and 2013. The total capital invested in portfolio funds amounts to €835m, of which €230m came from investors abroad.
Along with Tesi, the other co-investors in KRR are Ilmarinen Mutual Pension Insurance Company, the Local Government Pensions Institution, the State Pension Fund, Eläke-Fennia Mutual Insurance Company, Tapiola Mutual Pension Insurance Company, OP Life Assurance Company Ltd, OP-Eläkekassa and Etera Mutual Pension Insurance Company.