Tesi, in co-operation with Finnish institutional investors Ilmarinen, Keva, VER, Elo, LähiTapiola and Fennia, has established a new fund-of-funds KRR III.
Similar to its predecessors, KRR III invests in Finnish venture capital and small buyout funds. Its total capital is EUR150 million.
”KRR is a great example of collaboration between Tesi and Finnish pension and insurance companies to ensure that Finnish companies are able to raise capital to grow on international markets. KRR plays a significant role in accelerating the growth of these companies,” says Mika Lintilä, Minister of Economic Affairs.
In 2009-2017, KRR I and KRR II invested in altogether 19 Finnish venture capital and small buyout funds. These funds have, to date, invested in roughly 150 companies generating a total turnover of 1,6 billion euros and employing 13 000 people. With KRR III in place, the number of portfolio companies will be more than 300.
“As a repeated investment vehicle, KRR III ensures the continuity of capital supply to selected risk capital funds in Finland. In addition to capital, these fund managers will bring their own expertise and networks to their portfolio companies,” says Jan Sasse (pictured), CEO at Tesi.
“We are excited about participating in KRR III. For us, KRR provides an efficient way to participate in the growth of many companies through only one investment decision,” says Esko Torsti, Director at Ilmarinen.
“This is a great way to combine profitable investments with a positive economic and societal impact,” points out Markus Pauli, Director at Keva.
