Governance

The Board of Directors is responsible for the strategic development as well as directing and supervising Tesi’s business operations. The Board establishes key operating principles and monitors their implementation. The Board makes Tesi’s investment decisions.

The Management Team implements the company’s strategy and prepares investment proposals for the Board. The Management Team comprises the CEO and the Directors of the company’s operations.

Board of Directors

Kimmo Jyllilä

Kimmo Jyllilä

Chairperson
Riku Huttunen

Riku Huttunen

Vice-chairperson
Minna Helppi

Minna Helppi

Member
Anniina Heinonen

Anniina Heinonen

Member
Pauli Kariniemi

Pauli Kariniemi

Member
Mia Folkesson

Mia Folkesson

Member
Jacob af Forselles

Jacob af Forselles

Member

Management

Matias Kaila

Matias Kaila

Director, Funds
Juha Lehtola

Juha Lehtola

Director, Venture Capital
Henri Hakamo

Henri Hakamo

Chief Digital Officer
Jussi Hattula

Jussi Hattula

Director, Growth & Industrial Investments
Anna Kilpi

Anna Kilpi

Director, HR and Compliance

Advisory Board

The Advisory Board, appointed by Tesi’s Board of Directors, acts as an advisory body and promotes Tesi’s public affairs. The Advisory Board meets three times a year to discuss current topics related to the Finnish economy and growth entrepreneurship.

Members:

  • Juha Rantanen, Chairman
  • Mari Holopainen, Member of the Parliament, Green Parliamentary Group
  • Hannu Jouhki, Director, SAK, the Central Organisation of Finnish Trade Unions
  • Nina Kopola, General Director, Business Finland
  • Ari Korhonen, Angel Investor
  • Veli-Matti Mattila, Chief Economist, Federation of Finnish Financial Services
  • Pirita Mikkanen, Chairman of Lifa Air Ltd
  • Riitta Mäkinen, Member of the Parliament, Social Democratic Party
  • Arto Pirttilahti, Member of the Parliament, Centre Party
  • Matti Putkonen, The Finns Party Parliamentary Group
  • Tommi Toivola, Senior Advisor, Financing, EK, Confederation of Finnish Industries
  • Ben Zyskowicz, Member of the Parliament, National Coalition Party

Group structure

The Group comprises the parent company, Tesi (Finnish Industry Investment Ltd), and its subsidiaries:

  • FEFSI Management Oy (100% owned by parent company)
  • Tesi Fund Management Oy (100% owned by parent company)
  • Tesi Industrial Management Oy (100% owned by parent company)
  • Aker Arctic Technology Oy (66.4% owned by parent company)

Tesi is a minority investor. Our holding in portfolio companies is always less than 50%, although in some investments the aggregated holding of investors may exceed 50%. The only exception is Aker Arctic, in which Tesi has a majority holding.

Corporate Governance Statement

Tesi’s Corporate Governance Statement is prepared in all applicable respects in compliance with the recommendations of the Finnish Corporate Governance Code issued by Finland’s Securities Market Association.

Corporate Governance Statement 2020