United Bankers’ new fund (UB Forest Industry Green Growth Fund I LP), investing in sustainable and resource efficient forest and bio-based industries, has raised EUR 100 million in investment commitments. In addition to Tesi, leading Finnish pension insurance companies, Veritas and Elo, as well as Pension Funds of the Finnish Broadcasting Company (YLE) and Sandvik are anchor investors in the new fund. Its target size is EUR 300 million.
Investments will be made in forest and bio-product industrial companies in the growth phase, in the Nordics and elsewhere in Europe. Selected opportunities in industrial project co-investments and buyouts can also be considered. First investments are expected in early 2023.
”Tesi decided to invest in UB’s new fund as its strategy revolves around forest and bio-based industries as well as fiber-based raw materials, all of which are highly important for Finland. The fund is also a way for Tesi to advance sustainable development and responsibility to hinder climate change. There are no market players with a similar profile, either” elaborates Tapio Passinen, Investment Director at Tesi.
Tapio Passinen, Investment Director, Fund Investments
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Tesi wants to raise Finland to the forefront of transformative economic growth. We develop the market, and work for the success of Finnish growth companies. We invest in private equity and venture capital funds, and also directly in growth companies. We provide long-running support, market insights, patient capital, and skilled ownership. tesi.fi | Twitter | LinkedIn | Newsletter