Vexve strengthens its position for the next phase of growth in clean transition valve solutions

Finnish valve manufacturer Vexve is entering a new phase of growth with the continued backing of its owner, DevCo Partners. The EUR 521 million single-asset continuation vehicle raised by DevCo provides Vexve with significant capital to support the company’s long-term development and accelerating growth trajectory.

The raise was led by Pantheon, a global private markets investor managing over EUR 70 billion in assets, marking its first investment in Finland. The syndicate also included a broad group of European and North American family offices and institutional investors. Approximately half of the capital commitments came from existing Vexve investors, including the Herlin and Ehrnrooth families, Ilmarinen, and Tesi.

Vexve is a leading European provider of valve solutions for energy infrastructure and selected energy-intensive industries. The company aims to be the go-to supplier of high-performance valve solutions as the world transitions to a low-carbon future.

“It has been remarkable to witness Vexve’s development under DevCo’s ownership over the past nine years, as the company has grown, internationalized, and clearly exceeded its original targets. DevCo’s mission is to build globally leading companies from Finland through responsible and long-term domestic ownership. At Tesi, we also strive to strengthen Finnish ownership while also attracting new international investors to the country. We are pleased to support Vexve and DevCo in this funding vehicle and in their new phase of growth that strongly reflect our goals,” says Juuso Puolanne, Investment Director at Tesi.

Tesi made its initial investment in Vexve in 2016, followed by the significant follow-on investment now announced.

Read more:

Press release by DevCo Partners, 30 June 2025

Additional information:

Juuso Puolanne, Investment Director, Industrial Investments
juuso.puolanne@tesi.fi
+358 50 570 0235

Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter