Tesi is an active co-investor

Tesi makes syndicated minority investments in Finnish companies together with a vast network of venture capital and private equity investors.

We invest together with private investors, on equal terms and with equal expectations for returns. As a state-owned investor, Tesi’s share of the total funding round can be a maximum of 50%. We are an evergreen investor with a typical investment horizon of 3–8 years. Based on the specific company needs, we appoint leading industry experts in the boards of our portfolio companies.


The most ambitious and promising Finnish companies in series A, B and C. Our ticket size is EUR 2–15 million.

Our focus: ICT / industrial digitalisation, healthtech, deeptech and the circular economy.


Growth, international expansion and M&As of Finnish SMEs.

Our focus: the circular economy, digitalisation and other businesses seeking significant societal and economic impact.


Major industrial companies seeking international growth as well as carrying out new investments or major M&As in Finland or internationally.

Our profile as a co-investor

  • We are a financially strong and stable investor with a long investment horizon.
  • Our role in the syndicate is always adapted to the needs of the company.
  • We are well-versed within the Finnish ecosystem and jurisdiction, and have a good visibility into local deal flow.
  • We have strong networks in the international venture capital and private equity community.
  • Our team has 300+ years combined experience in venture capital and private equity.