Tesi: Finnish Industry Investment

Gives access to a combination of capital, expertise and network resources.
Type VC
Website industryinvestment.com

Investment info

Invests in
Product or prototype
Go to market
Growth and expansion
Investment range
€ 1 - 5M
€ > 5M
Primary markets
Consumer, Companies, Marketplace
Investing in countries

Focus areas

Consumer Goods
Consumer Goods
Energy & Greentech
Energy & Greentech
Media & Entertainment
Media & Entertainment
See all 9 focus areas

Invests in SDGs


More about Tesi: Finnish Industry Investment

Tesi invests in three different stages; venture capital, and industrial investments. When investing venture capital they show particular interest in ICT, industrial digitalisation, health technologies and clean-tech, but are open to invest in almost all sectors.



 Tesi is a state-owned investment company from 1995 with €1.2 bn assets under management. Their mission is to develop Finland’s venture capital and private equity market, as well as to promote Finnish business and Finland’s economic growth. They invest like a private and want to be commercially profitable. They always invest as a minority investor and their holding can be a maximum 50%.


How much do they invest?

Tesi invests in companies directly or via funds. They operate as an active minority owner and they provide access to business expertise and international networks. They invest together with private investors on the same terms as them and with the same expectations for returns.

They can invest in three different stages, the two earliest will be mentioned here: Venture capital and Growth Capital. They invest in A rounds and later rounds, and prefer their target companies to have revenues of at least €1M. When investing venture capital the financing rounds are normally from €3m up, where they themselves can invest between €1,5m and €15m. 


How do they work?

In the first meeting with Tesi they want to verify whether they are the right investor for your company, as well as seeing if your company fits their investment focus. You discuss your company’s growth plan, competitive advantages and market opportunities. You also talk the amount of financing needed and how it will be used. Suitable co-investors for your company can also be discussed and TESI can help your company find a suitable investor syndicate.


This makes a difference to them

Tesi looks for fast growing and scalable Finnish companies in all sectors.


Key People

Heli Ahlroos – Director, Venture Capital
Heli Ahlroos has worked in Tesi since 2008. Before this, she has been a technology manager at Tekes and a development manager at Sonera. 

Tony Nysten – Investment Manager
Tony Nysten started at Tesi in 2016. Before joining Tesi, he has worked at Royal Bank of Scotland and Nokia Growth Partners. 


Startups they funded

M-Files, Visedo, Verto Analytics, Enevo, Rightware, Eniram, Iceye, Oura, Kaiku Health and IQM.


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