KRR (Kasvurahastojen Rahasto) — Growth Fund of Funds
Invests in KRR managed by Tesi to anchor Finnish venture capital and buyout funds.
KRR (Kasvurahastojen Rahasto, 'Growth Fund of Funds') is a dedicated fund-of-funds vehicle managed by Tesi Fund Management Oy, a registered AIFM operator following Invest Europe valuation standards. KRR acts as an anchor LP in Finnish VC, growth, and buyout funds, committing EUR 5–30 million per fund, with a hard cap of 40% of any individual fund's total commitments. Since its 2008 launch, KRR has invested EUR 302 million of Tesi capital alongside EUR 843 million from Finnish institutional LPs, enabling 53 portfolio funds to raise EUR 4.8 billion in total and supporting approximately 500 Finnish growth companies.
The active vintage is KRR V, with an investment period running from 2024 to 2028, classified under EU Sustainable Finance Disclosure Regulation (SFDR) Article 8. KRR V's LP base includes major Finnish institutional investors: Elo, Keva, Ilmarinen, LähiTapiola, OP Group, VER, and Veritas. The preceding KRR IV vintage had EUR 175 million in capital and committed to 15 funds during its 2020–2023 period. Excluded vehicle types are real estate, listed-company funds, other funds-of-funds, and infrastructure-focused vehicles.
GP applications to KRR V are accepted on a rolling basis during the 2024–2028 investment period, with no published call deadlines. Fund managers engage Tesi's fund investment team directly. The program is a pure LP equity commitment — not a grant — and is available only to fund managers, not directly to portfolio companies or individual applicants.
Anchors Finnish VC, growth, and buyout funds as a limited partner with EUR 5–30 million per fund through the KRR fund-of-funds vehicle, capped at 40% of each fund's total commitments.
Sign up free to see the funding breakdown
Sign up free to see the industries in scope
Sign up free to see the full eligibility
Sign up free to see how to apply