Tesi starts a 150M euro fund-of-funds.
Tesi, a Helsinki, Finland-based state-owned investment company, announced the launching of a new fund-of-funds KRR III. Similarly to its predecessors, KRR III invests in Finnish venture capital and small buyout funds. Its total capital is 150 million euros.
The KRR funds were started in 2009 and, since then, KRR I and KRR II invested in altogether 19 Finnish venture capital and small buyout funds, which accordingly funded roughly 150 companies. With KRR III in place, Tesi aims that the number of portfolio companies reach 300.
KRR was initiated in co-operation with Finnish institutional investors Ilmarinen, Keva, VER, Elo, LähiTapiola and Fennia.
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company led by CEO Jan Sasse and which invests in both companies directly and via funds.