We advised Tesi (Finnish Industry Investment Ltd) on its acquisition of Finnvera’s remaining venture capital investing operations. The transaction included the acquisition of EAKR-Aloitusrahasto Ltd and a 19.71 per cent share in Innovestor’s Kasvurahasto I LP. The portfolio of EAKR-Aloitusrahasto consisted of 23 companies at the time of the transaction.
The transfer clarifies the venture capital and private equity operations of the Finnish state and enables Finnvera to relinquish its investment operations in a controlled manner, ensuring that the ownership of the portfolio companies continues smoothly. With the transfer, the chances for portfolio companies to receive follow-on financing have improved as well.
Tesi will ensure that the portfolio companies continues under an ownership that is both active and creates value in the long term. Finnvera, on the other hand, will focus on providing financing options that enable companies to be established and for future and existing companies to go on to grow, renew, internationalise and export.