Tesi

Next Monday, 11 August, Patrik Fjällberg steps into his new analyst role in Tesi's Venture and Growth Investments team. 📣 With experience as a startup founder and co-founder of the SILTA programme, plus a background at Greencode Ventures, Patrik brings strong experience from the startup ecosystem to the role and his new team. 👏 Warm welcome to Tesi, Patrik! https://lnkd.in/dwGnmrQ7

Our Interim Director of Fund Investments, Enni Rautio, attended a fireside chat hosted by Giovanni Amodeo from ION Analytics.   The discussion highlighted the role of government-backed investors like Tesi in filling funding gaps in high-risk areas such as early-stage VC, biotech, and deep tech. Enni also shared key red flags when evaluating fund managers: misalignment between GPs and LPs, lack of transparency, and limited personal investment—factors that can undermine trust in long-term partnerships.   Other key takeaways of the discussion: Tesi’s Mission: With nearly €3B in assets, Tesi plays a critical role in Finland’s PE/VC ecosystem, supporting areas where private capital is less active—such as early-stage VC, biotech, and deep tech. Assessing Investment Strategies: From high-risk, syndicated VC deals to control-focused buyouts, fund strategies require very different approaches to risk, governance, and return. European Market Trends: The VC landscape in Europe is maturing, with strong performance in deep tech and life sciences—but there’s still a need for stronger late-stage funding and more developed capital markets. What Investors Should Watch For: Alignment of interests, transparency, and true commitment from fund managers are non-negotiable—especially given the long-term nature of fund partnerships. Looking Forward: Amid macro uncertainty, long-term focus areas like AI hardware, quantum computing, and green energy are gaining traction. Europe must continue building the infrastructure to retain and grow high-potential companies. https://lnkd.in/dbnuyDJj

More summer reading from our already published articles! This time, we’re featuring TILT Biotherapeutics Ltd from our portfolio, a company that develops cancer immunotherapies with armed oncolytic viruses to destroy cancer cells. Read more: https://lnkd.in/dB4Q7-88

Suggestions for summer reading continue as we focus on old case articles from our portfolio throughout the vacation season! Gubbe's elderly care service connects young assistants with elderly people needing non-urgent care through Gubbe’s scalable tech platform. Read more: https://lnkd.in/ddDX2Qgr

Our summer reading suggestions continue with a spotlight on Carbo Culture! 📖 The article explores how the Carbolysis reactors patented by Carbo Culture produce high-quality biochar from industrial by-products on an industrial scale. Read more: https://lnkd.in/dEBTnhW6

More summer reading from our already published articles! This time, we’re featuring Algorithmiq from our portfolio, a company that harnesses quantum computers to solve previously insurmountable challenges in the field of health & life sciences. Read more: https://lnkd.in/dev7Jdk9

Tesi has invested in Norsk e-Fuel, a project developer of sustainable aviation e-Fuel, to support the company’s growth 🌍 This marks our first investment in the company as part of the funding round led by Prime Capital AG earlier this year. Norsk e-Fuel is expanding into Finland with two fossil-free fuel production projects planned in Rauma and Imatra. These projects are part of the company’s broader Nordic growth strategy and mission to reduce aviation emissions across Europe. The fuel that Norsk e-Fuel will produce is a synthetic fuel made from hydrogen and CO2 using fossil-free electricity. “Under its new investment strategy, Tesi can also invest in new industrial-scale projects to help establish new industry in Finland that utilizes clean electricity and supports the energy transition. The Norsk e-Fuel project in Rauma, which promotes the sustainability of air travel and Finland’s energy security, is an excellent example of an investment aligned with our new strategy,” says Esa Koponen, CFA, Investment Director at Tesi. Read more! https://lnkd.in/emY2qgtE

Summer reading in the form of our published case articles throughout the summer vacation season! 📖 First up is BC Platforms, whose technology helps gather data from health systems and biobanks in a way that streamlines both the drug development process and aids in understanding which medications work best for different patients. Read more: https://lnkd.in/dv6YagJm

Finnish modular reactor company Steady Energy has raised EUR 32 million to accelerate its growth and internationalisation 👏 Investors in the round included 92 Capital - Nuclear Fund, LähiTapiola, Lifeline Ventures, Move Energy and Valo Ventures among others. Tesi also joined the round with its first investment in the company. “Heating and cooling account for approximately half of Europe’s annual energy consumption. Small modular reactors represent one of the few technologies capable of enabling district heating networks to make a significant leap toward low-emission heat production. Steady Energy combines a skillful team with innovative technology that can be scaled commercially. For these reasons, we see significant potential for international growth in the company,” says Samppa Sirviö, Investment Manager at Tesi. Read more! 🔎 https://lnkd.in/daMA5f7i