Investment Strategy
Solidium Oy is a holding company wholly owned by the Finnish state, established in 2008 to professionally manage the government’s minority shareholdings in listed Finnish companies. The company’s portfolio of approximately $10 billion includes stakes in some of Finland’s most significant companies, including Sampo Group, Stora Enso, Outokumpu, Metso, Valmet, Elisa, and Nokia.
Solidium’s mandate is to strengthen and stabilize Finnish ownership in nationally important companies while generating long-term shareholder value. The company exercises active ownership, engaging in corporate governance, board nominations, and strategic dialogue with portfolio company management. Solidium also executes transactions to adjust the portfolio in line with the Finnish government’s ownership policy.
Beyond listed equities, Solidium invests in the Finnish innovation and growth ecosystem through its subsidiary Tesi (Finnish Industry Investment). Tesi commits capital to Finnish and Nordic private equity, venture capital, and growth funds, and makes direct investments in Finnish companies. This mandate supports the development of Finland’s technology sector and helps Finnish companies access growth capital for internationalization.
How to Approach
GPs seeking engagement with Solidium should approach the Helsinki headquarters, with particular attention to the Tesi subsidiary for private equity and venture capital opportunities. Tesi actively commits to Nordic PE and VC funds and evaluates new manager relationships on an ongoing basis. Managers with Finnish or Nordic market focus, technology expertise, or industrial sector capabilities will find the strongest alignment. The company participates in Nordic and European institutional investor forums and is accessible through direct outreach.
Frequently Asked Questions
What is Solidium?
Solidium is a holding company fully owned by the Finnish state, established in 2008 to manage the government's minority shareholdings in listed companies deemed nationally important. The portfolio includes stakes in major Finnish companies such as Sampo, Stora Enso, Outokumpu, Metso, and Nokia. Solidium manages approximately $10 billion (EUR 9 billion) in assets.
How does Solidium operate?
Solidium acts as an active, long-term shareholder in its portfolio companies, exercising ownership rights and engaging in corporate governance. The company also makes new investments and adjusts existing holdings as directed by the Finnish government's ownership policy. Solidium additionally invests in Finnish private equity and venture capital through its Tesi subsidiary.
Does Solidium invest in private equity?
Yes, through its subsidiary Tesi (Finnish Industry Investment), Solidium invests in Finnish and Nordic private equity, venture capital, and growth funds. Tesi acts as a catalyst for the Finnish venture and growth capital ecosystem, committing to funds and making direct investments to support Finnish companies' growth and internationalization.
