Tesi (Finnish Industry Investment Ltd)

Tesi (Finnish Industry Investment Ltd) is a state-owned, market-driven investment company with an industrial policy mission to drive economic growth, renewal, and investment in Finland. It invests on market terms — always as a minority co-investor alongside private investors — in both VC & PE funds and directly in Finnish startups, scale-ups, and large industrial projects. As a general guideline, half of its investments are direct and half are fund investments, though the allocation varies with market conditions. Tesi's investment activities increasingly emphasize the scalable growth of technology companies and the most promising industrial-scale projects. Its key focus areas are deep technology, health and life sciences, clean economy, and defence technology, though it imposes no predefined sectoral restrictions. With EUR 3.2 billion under management and an investment capacity of EUR 1.8 billion for 2025–2029, Tesi aims to foster six to eight new Finnish unicorns, build larger domestic VC funds to international scale, and anchor major industrial clean-transition projects.