Factsheet for measure
FI-2020-16/1235
–
Updated
– measures in Finland
Tesi’s stability programme for medium-sized companies
Tesin vakautusrahoitus keskisuurille yrityksille
Background information
In order to prevent bankruptcies among viable medium-sized businesses in a turbulent market situation, the state-owned investment company Finnish Industry Investment Ltd Tesi (in Finnish ‘Suomen Teollisuussijoitus Oy’) launched a funding programme in April 2020. The aim is to offer a faster track to helping businesses coping with liquidity crisis.
Content of measure
This measure is available for companies that:
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that had sales of at least €10 million in 2019;
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employ over 50 people in Finland;
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were profitable before the COVID-19 crisis and whose profitability in the future seems likely (e.g. positive EBITDA in 2019);
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were not over-indebted before the COVID-19 crisis; and
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whose financial position has been substantially affected by the COVID-19 crisis.
Tesi makes stability investments either as an equity investment or as a convertible loan.
The size of the investments varies between €1 million and €10 million.
The total budget of this measure is €150 million.
Updates
The following updates to this measure have been made after it came into effect.
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26 November 2024
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The programme was closed to new initial investments at the end of March 2022, although further investments continued to the target companies.
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Use of measure
At the end of August 2020, in total 39 applications had been sent to Tesi.
The number of granted applications was 10. Four of these applications came from companies registered in the manufacturing sector and three from companies registered in the information and communication sector.
The total budget of the granted applications was €54 million.
By the end of 2022, in combination with Tesi’s Venture Bridge programme PolicyWatch FI-2020-25/1236, the programmes had paid out €269 million in total to 63 companies.
Target groups
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Workers
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Businesses
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Citizens
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Does not apply to workers
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SMEs
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Does not apply to citizens
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Actors and funding
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Actors
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Funding
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National government
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National funds
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
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Role
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Unknown
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Unknown
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Form
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Not applicable
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Not applicable
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Social partners' role in the
implementation, monitoring and assessment phase:
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Unknown
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Main level of involvement: N/A
Involvement
No information available.
Views and reactions
No information available.
Sources
