Finnvera sold its share in the investment fund Teknoventure
Finnvera has sold its holding in the investment fund Teknoventure Oy to Oulu ICT and Osuuskunta PPO. Teknoventure makes investments in later stage companies based in Northern Finland.
After the sale, Oulu ICT and PPO each have a holding of 24.2 per cent in the company. As a result of the ownership arrangements, the investment fund will become privately funded, which will provide it with more opportunities. At the moment, the investment fund has a capital of about EUR 16 million. The aim of Oulu ICT and PPO is to increase the fund's capital to EUR 30 million in the future.
Teknoventure Oy was established in 1994 and it makes investments in later stage companies based in Northern Finland. The fund has made investments in nearly 20 enterprises in different sectors. The fund is managed by Teknoventure Management Oy, a management company based in Oulu.
Finnvera plc is selling its shares in the company as part of the reorganisation of the state-run venture capital operations.
Pauli Piilma, Regional Director, Finnvera plc, tel. +358 40 848 9583
Mauri Visuri, Managing Director, Teknoventure Oy, tel. +358 40 865 7946
Kati Peltomaa, Managing Director, Osuuskunta PPO, tel. +358 44 729 1220
Jari P. Tuovinen, Managing Director, Oulu ICT Oy, tel. +358 44 313 4505
Established in 1994, Teknoventure Oy is a company (evergreen fund) making venture capital investments in enterprises with the aim of ensuring that the growth of the enterprises will also boost the value of the investments.