Finnvera plc sells its stake in Matkailunkehitys Nordia Oy

As part of a restructuring of public venture capital activities, Finnvera has sold its shares in Matkailunkehitys Nordia Oy.

Founded in 1989, Matkailunkehitys Nordia Oy is a venture capital fund specialising in the tourism industry. The goal set for the fund was to develop the internal structures of the tourism business and sector as well as increase business expertise.

Matkailunkehitys Nordia Oy was owned by Finnvera plc (63.5%) and Sitra (36.5%). Finnvera sold its shares to private shareholders in the transaction.

The new, private majority shareholders are Fennia Mutual Insurance Company and Hiidenkivi Investment, which is an investment company owned by Ilkka Hiidenheimo, founder of network security company, Stonesoft. The third new owner is Karisma-Invest, which is run by tourism industry veteran Kari Österlund. Nordia Management, which has managed the fund for over 10 years, also holds a share in the fund. Sitra will remain the single largest shareholder.