Tesi (Finnish Industry Investment Ltd) launched two new investment programmes during 2020 in response to the challenges the coronavirus pandemic posed to Finland’s venture capital and private equity market. As the crisis is receding, it is only natural to end the temporary activities aimed at mitigating its effects. Applications for initial investments under the investment programmes can be submitted up until 31 March 2022.
“Tesi’s role in the corona crisis has been to ensure the continuity of growth companies’ businesses by supplying financing and market information. As the crisis is abating, it’s only natural to turn our attention back to Tesi’s normal investment operations,” comments Tesi’s CEO Jan Sasse.
All Tesi’s investments under the special programmes created to mitigate the impacts of the pandemic are made on market terms, with no aid-based financing included. Stabilisation financing serves mid-sized companies encountering sudden and temporary difficulties because of the pandemic. Venture Bridge financing, on the other hand, is targeted at companies seeking international growth to provide more time for a larger financing round. Also, selective follow-on investments will be made in the companies that receive financing.
As of 11 March, 2022, Tesi has made investment decisions amounting to EUR 118 million through the special investment programmes, either as convertible loans or as equity investments. Venture Bridge financing is provided as convertible loans, hand-in-hand and on equal terms with professional VC investors. Stabilisation financing is provided either as a convertible loan or as an equity investment.
”These special investment programmes were our way of responding flexibly to the bottlenecks the pandemic created in the venture capital and private equity market. In addition, we almost doubled our direct investments over that period,” Jan Sasse points out.
For initial investments, applications for financing from the programmes can be submitted up until 31 March 2022. Application forms and instructions for seeking financing are available on Tesi’s website at: https://tesi.fi/en/for-companies/
Jan Sasse, CEO, Tesi
+358 40 861 9151
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII