Governance

Tesi is a state-owned venture capital and private equity company. We comply with all applicable recommendations of the Corporate Governance Code for Finnish Listed Companies, in addition to existing legislation and the provisions of the company’s Articles of Association. Our goal is transparency, international comparability and the promotion of good corporate governance practices in line with the Code, as well as the harmonisation of information-related procedures.

Management
Board of Directors
Tesi Advisory Board

Corporate Governance Statement 2023
Remuneration Report 2023

Management

Susanna Aaltonen

Susanna Aaltonen

Director, Communications
Henri Hakamo

Henri Hakamo

Chief Strategy and Research Officer
Jussi Hattula

Jussi Hattula

Director, Growth & Industrial Investments
Juha Lehtola

Juha Lehtola

Director, Venture Capital
Enni Rautio

Enni Rautio

Interim Director, Fund Investments
Maija Soininen

Maija Soininen

Head of People & Culture
Hanne Stenman

Hanne Stenman

General Counsel

Board of Directors

Andreas Tallberg

Andreas Tallberg

Chair
Tiina Korhonen

Tiina Korhonen

Vice Chair
Mia Folkesson

Mia Folkesson

Member
Anniina Heinonen

Anniina Heinonen

Member
Minna Helppi

Minna Helppi

Member
Olli Kärkkäinen

Olli Kärkkäinen

Member
Lassi Noponen

Lassi Noponen

Member

Tesi Advisory Board

The Advisory Board functions as an advisory body to the Board of Directors and promotes the company’s public relations. The Board does not have any responsibilities under commercial law. New members of the Tesi Advisory Board, appointed in autumn 2023, are:

  • Andreas Tallberg, CEO; Chair of the Board of Directors (G.W. Sohlberg Ab)
  • Arno Ahosniemi, CEO (Finance Finland)
  • Juuso Heinilä, CEO (Finnvera)
  • Inka Hopsu, Member of Parliament (The Greens)
  • Anne Horttanainen, CEO (Finnish Venture Capital Association (FVCA))
  • Jyri Häkämies, CEO (Confederation of Finnish Industries)
  • Antti Kaikkonen, Member of Parliament (Centre Party)
  • Aki Kangasharju, CEO (ETLA Economic Research)
  • Saku Nikkanen, Member of Parliament (Social Democratic Party)
  • Riikka Pakarinen, CEO (Finnish Startup Community)
  • Matti Putkonen (Finns Party)
  • Reima Rytsölä, CEO (Solidium)
  • Minna Vanhala-Harmanen, CEO (The Finnish Family Firms Association)
  • Antti Vasara, toimitusjohtaja (VTT Technical Research Centre of Finland)
  • Ben Zyskowicz, Member of Parliament (National Coalition Party)

Group structure

The Group comprises the parent company, Tesi (Finnish Industry Investment Ltd), and its subsidiaries:

  • FEFSI Management Ltd. (100% owned by parent company)
  • Tesi Fund Management Ltd. (100% owned by parent company)
  • Tesi Industrial Management Ltd. (100% owned by parent company)
  • EAKR-Aloitusrahasto Ltd. (100% owned by parent company)
  • Aker Arctic Technology Ltd. (66.4% owned by parent company)

Tesi is a minority investor. Our holding in portfolio companies is always less than 50%, although in some investments the aggregated holding of investors may exceed 50%. The only exception is Aker Arctic, in which Tesi has a majority holding.