Focus areas change over time

Developing the market and new solutions are closely interlinked. Market development for us often means advancements made by investing in funds. In this context, though, we focus more on solutions through direct investment.

Our activities as a VC/PE investor must resolve issues — make the existing better. Renewal and new solutions give us the means to eliminate market bottlenecks that would otherwise restrict financing. Finance providers have, for instance, paid less attention to longer-term investments, to growing family firms, to change-of-generation arrangements and to Greenfield / Brownfield projects.

We have created strategic objectives to guide our investment operations. One practical example is our last investment in 2018 in glass foam manufacturer Uusioaines, which fits neatly into the circular economy and positive impact domain. GRK Infra can be regarded as a Mittelstand company. Smart ring manufacturer Oura Health and health technology company Kaiku Health fall within our strategic objective of the health industry.

Investment programmes, market bottlenecks and strategic objectives change over time.

As a new operational format, we started anchor investing to support growth companies planning an IPO. We channel anchor investments to companies whose size, sector or development stage makes an IPO challenging. In 2018, we made our first anchor investment in the First North listing of industrial maintenance specialist Viafin Service.

In 2018 we agreed a co-investment programme with the European Investment Bank (EIB) that will channel altogether MEUR 100 of financing to promote the growth of innovative SMEs and midcap companies. In each financing round, private investors will provide at least the same amount of capital as the EIB and Tesi. In this way we support the larger financing requirements of Finnish companies as well as the larger (co-) investments that funds make in growth companies.

Investment programmes, market bottlenecks and strategic objectives change over time. We closely monitor the finance market, analyse its development and continuously interact with both our partners and companies. This enables us to target our development activities and focus our investments so that they supplement the market and assist its smooth functioning.