PEStore

Growth Equity

Tesi

Tesi takes minority stakes in growing companies, usually without full control, from Helsinki, Finland. It states a focus on software & internet, healthcare & life sciences and education.

Disclosed holdings200
Earliest stated investment
HeadquartersHelsinki, Finland
Largest single fundNot stated

Stated investment criteria

What Tesi says it buys

Read from Tesi’s own website in August 2026. This is what the firm says it buys, not what anyone has recorded it buying, and figures are shown in the currency the firm itself used - nothing here is converted. Every line links to the page it was read from.

People listed on its team page751

A stated mandate is a firm’s description of itself and was true of the page on the day it was read; firms widen and narrow what they will look at without updating the site. The team figure counts the people the firm shows on one team page, so it is a floor rather than a headcount: firms that split their team across tabs or load it in pages will read low. Nothing here is a commitment by Tesi to consider any particular business, and nothing on this page is represented as being for sale.

Portfolio

Disclosed holdings

Companies Tesi lists on its own website. No investment years are published.

CompanyInvestedYears heldRecorded transaction
3 Step IT Group Oy
3DBear
3DBear Oy
3stepIT
ADE
Ab Nanol Technologies Oy
Ade Animations Designs Effects Oy
Aisti
Aisti Corporation Oy
Aiwo Digital Oy
Aiwo.ai
Aker Arctic Technology Inc
Algorithmiq
Algorithmiq Inc.
Altum Technologies
Altum Technologies Oy
Alvar Pet
Alvar Pet Oy
Annie Advisor
Annie Advisory Oy
Aranda Pharma
Aranda Pharma Oy
Arctial
Arctial Group Oy
Aurealis Therapeutics
Aurealis Therapeutics AG
Aurelia Turbines Oy
Aurora Propulsion Technologies Oy
Avenue Biosciences
Avenue Biosciences Holding, Inc.
BC Platforms AG
BCB Medical
BCB Medical Oy
BMH
BMH Technology Oy
Basemark
Basemark Oy
Betolar
Betolar Oyj
Blastr
Blastr Green Steel AS
Bone Index Finland Oy
Breaks
Breaks Finland Oy
Brella
Brella Oy
Cactos
Cactos Oy
Cajo Technologies Oy
Capalo AI
Capalo AI Oy
Carbo Culture
Carbo Culture Oy
Cloudpoint
Cloudpoint Oy
Code School
CurifyLabs
CurifyLabs Oy
DataSpace
Dataspace Europe Oy
Eduhub Oy
Elcoline
Elcoline Group Oy
Elstor
Elstor Oy
Endev Oy
Enifer
EniferBio Oy
Filtrabit
Filtrabit Oy
Finnchat Oy
Finnforel
Finnforel Oy
Fira
Fira Oy
Flow Technology
Foamit Oyj
Forcit Group
Forcit Pori Holding Oy Ab
Four Ferries Oy
FourFerries
Freeed
Fuzu Oy
GRK
GRK Infra Oyj
Geyser Batteries
Geyser Batteries Oy
Gisgro
Gubbe
Gubbe Sydänystävä Oy
Guidin
HEI Schools
HEI Schools Oy
HVR Cardio Oy
Haltian
Haltian Oy
Hedera DX SA
Humm
Hycamite
Hycamite TCD Technologies Oy
Hydroline
Hydroline Group Oy
ICEYE
ICEYE Oy
IQM Finland Oy
IXI Eyewear Oy
Iiwari Tracking Solutions Oy
Infrakit
Infrakit Group Oy
Innomost
Innomost Oy
Kelluu
Kelluu Oy
Koherent
Koherent Oy
Lamor
Lamor Corporation Ab
Lamor Recycling Oy
Leadership as a Service Company Oy
Lentävä Liitutaulu Oy
Liikennevirta Oy
Liveto
Liveto Group Oy
Loihde
Lyfta
Lyfta Oy
Magsort
Magsort Oy
MeEat Food Tech Oy
MealLogger
Measur Oy
Measurlabs
Mekitec
Mekitec Oy
Meriaura
Meriaura Oy
MetGen Oy
Metgen
Mevea
Mevea Oy
Midaxo
Midaxo Oy
Monidor
Monidor Oy
Naava
Naava Group Oy
Nanol
NestAI
NestAI Oy
NewIcon
NewIcon Oy
Nordic Ren-Gas Oy
Nordic Rescue Group
Nordic Rescue Group Oy
Norsepower
Norsepower Oy
Nosto
Nosto Solutions Oy
Not a Hotel Venture Limited
ONEiO
ONEiO Cloud Oy
Onego Bio
Onego Bio Ltd
Optomed
Optomed Oyj
Oura Health Oy
Oura Ring
P2X
P2X Solutions Oy
Pesmel
Pesmel Oy
Playvation Oy
Primex Pharma
Primex Pharmaceuticals Oy
QHeat
Qridi
Qridi Oy
Quantitive Heat Oy
Railotech
Rauma Marine Constructions Oy
ReceiptHero
ReceiptHero Oy
Ren-Gas
Rentle Oy
Resand Oy
Rester
Rester Oy
Rocsole
Rocsole Oy
Ruokaboksi
Ruokaboksi Oy
Saltex
Saltex Holding Oy
Savox Communications Plc
Savroc
Savroc Oy
Seaber
Seaber Oy
Secapp
Secapp Oy

Compiled from Tesi’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

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Comparable investors

Similar mandates

Other growth equity investors active in software & internet.