KRR funds-of-funds act as anchor investors in Finnish venture capital, growth and buyout funds. This successful concept has already supported the scaling up of dozens of new funds and the growth of hundreds of companies.
KRR IV will continue the successful investment activities of its predecessors. The fund’s capital is EUR 175 million. It targets to invest in 10-14 Finnish venture capital and private equity funds during 2020-2025. The founders of KRR IV are Tesi together with Keva, VER, Ilmarinen, Elo, LähiTapiola and Veritas.
A fund of funds with EUR 150 million total capital. In addition to Tesi, Ilmarinen, Keva, VER, Elo, LähiTapiola and Fennia are investors in the fund. KRR III’s investment period was 2017–2020, during which the fund committed to a total of thirteen venture capital and private equity funds.
A fund of funds with EUR 130 million total capital. Tesi’s co-investors included Ilmarinen, Keva, Elo ja VER. KRR II’s investment period was 2014–2017, during which the fund committed to a total of ten funds.
KRR was established in 2008 and its total capital was EUR 135 million. Tesi’s co-investors included Ilmarinen, Keva, VER, Pension Fennia, Tapiola, OP Life Assurance Company Ltd, OP Pension Fund and Etera. KRR invested in eleven funds in 2009–2013.
KRR funds-of-funds are managed by Tesi’s subsidiary Tesi Fund Management Oy, which is a registered operator in accordance with the AIFM Act. The KRRs follow the valuation recommended by Invest Europe based on the International Private Equity Valuation Guidelines (IPEV). Investor reporting follows the reporting recommended by Invest Europe.