Annual Report 2015

Direct investments

Boosting growth

During the year we paid out altogether €24.9m (€39.0m) in direct investments in 12 portfolio companies. Direct investments are for the most part linked with investment programmes: the €100m Industrial Renewal investment programme and a new €25m investment programme aimed at attracting international investors and capital, as well as international expertise, to Finland. The largest investments of the Industrial Renewal programme in 2015 were in Kotkamills Oy and Rauma Marine Constructions Oy.

Our target is also to enhance active ownership in portfolio companies with a view to stimulating the growth and profitability of the companies.

Direct investments in 2015
Company Sector Investment (€m)
Enevo Oy Business & industrial services
Ionphase Oy Chemicals & materials
Keliber Oy Energy & environment
Kotkamills Group Oy Business & industrial products
LeadDesk Oy Business & industrial services
Mekitec Oy Business & industrial products
M-Files Oy Computers & consumer electronics
Multi Touch Oy Computers & consumer electronics
Nexstim Oyj Life sciences
Rauma Marine Constructions Oy Business & industrial products
Rightware Oy Computers & consumer electronics
Unisport-Saltex Group Oy Business & industrial products
Total 24.9
Start Fund I's investments in 2015
Company Sector Investment (€m)
Aidon Oy Energy & environment
Vaadin Oy Business & industrial services
Yhteensä 0.6

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