On 28 May 2025, the Government made decisions to complete the enhancements to the state’s private equity investment activities, as agreed in the Government Programme. Consolidation of the state’s private equity investment activities under Finnish Industry Investment Ltd (Tesi) will be completed when the acts enter into force on 30 May 2025 and the corporate restructuring takes place on 31 May 2025.
As part of the restructuring, the remaining assets and liabilities of three state-owned companies will be transferred to the Tesi Group. Business Finland Venture Capital’s activities involving state aid will continue as a Tesi subsidiary under the new name Industrial Subsidy Ltd.
Read more:
- Press release by the Ministry of Economic Affairs and Employment, 28 May 2025: Concentration of state capital investment activities under Tesi is completed
- Press release by the Ministry of Economic Affairs and Employment, 5 Sep 2024: Government proposes to reform state capital investment activities
- Press release by the Ministry of Economic Affairs and Employment, 21 May 2025: State capital investment activities to be enhanced already in 2024, as practical implementation of corporate restructuring in accordance with the Government Programme proceeds
- Ownership policy section of Prime Minister Petteri Orpo’s Government Programme
Industrial Subsidy Ltd manages investments that include state-aid. The company invests solely at the request of the Ministry of Economic Affairs and Employment. The Ministry of Economic Affairs and Employment oversees the ownership steering of Industrial Subsidy Ltd.