Tesi’s investment programme promotes the growth and internationalisation of Finnish startups and growth companies as well as the emergence of new venture capital and private equity funds that base their business on or invest in circular economy. Established in 2019 in the size of EUR 75 million, investments and commitments made from the programme total some EUR 50 million by the beginning of 2023.
The programme comprises market-based minority investments that are always made together with other private investors and on the same terms. Such investments include, for instance, direct ones in Swappie, refurbishing and reselling iPhones, and in textile recycler Rester. A commitment has also been made in the first fund by Pale blue dot, a VC investor specializing in investments that promote sustainable development, in North-European tech companies.
In addition to material recycling, circular economy business models include a sharing economy, extending the product lifecycle, and product-as-a-service.
”There is increasing interest in circular economy so more and more companies build their business on its principles. Tesi assesses a broad range of Finnish circular economy companies and actively promotes projects that meet the set investment goals,” says Tesi’s Investment Director Heli Kerminen.
While Tesi has a specific circular economy programme, there are also other companies and funds in Tesi’s portfolios that consider the theme important for their business. Tesi seeks to advance sustainability extensively in Finnish venture capital and private equity funds as well as in startups and growth companies.
”Thanks to these companies and funds, we can take steps towards mitigating climate change and preventing biodiversity loss,” concludes Mikael Niemi, Tesi’s Investment Director.