Tesi group’s consolidation and capital injection greenlighted
The Commission has approved Finland’s plan to merge its state-owned risk capital and private equity firms into a single entity, the Tesi group. As part of the plan, Tesi will receive a EUR 300 million capital injection.
The consolidation aims to streamline the current structure and clearly distinguish State-supported activities from Tesi’s purely commercial operations as the new parent company. After the merger and capital injection, Tesi will focus on supporting the growth of Finnish SMEs, particularly in new technologies and sustainable business initiatives.
The Commission approved the Finnish measures under Article 107(1) of the Treaty on the Functioning of the EU (TFEU) and concluded they do not constitute State aid. The capital injection into Tesi is market-based, as it offers returns in line with private investments, aligns with private investor strategies, and avoids cross-subsidisation between State-supported and commercial activities.
For more information, see the Commission’s PR.