VNT Management Oy (VNT), established in 2002, is a Finnish fund manager for three private equity funds. Funds and their sizes are Power Fund I, 16,9 million euros, Power Fund II, 62,8 million euros and Power Fund III, 77,0 million euros, totally 157 million euros.
VNT funds focus on clean technology, in particular on renewable and distributed power generation and energy-saving technologies in electrical and power electronics applications. The funds invest in European early and growth phase companies.
VNTM is a member of Finnish Venture Capital Association and complies with guidelines set to promote transparency in private equity and in venture capital industries. VNTM is under supervision of Finnish Financial Supervisory Authority and is registered in their AIFM register in 2015.
Power Funds I, II and III are managed by VNT, that is equally owned by four partners. Partner profiles and contact information are presented in section Team and Contacts of VNT web site.
VNT’s main media contact is Jarmo Saaranen, partner, CEO and Chairman of the Board, tel +358 40 837 1559, email jarmo.saaranen@vntm.com.
VNT follows the Investor Reporting Guidelines of Invest Europe to report to our investors. Reporting is done semiannually for Power Fund I and II and quarterly for Power Fund III.
VNT follows The International Private Equity and Venture Capital Valuation Guidelines (IPEVG) to determine the value of its portfolio companies.
VNT complies with the rules and recommendations of FVCA for responsible investing and recognizes the UN Principles of Responsible Investment (UNPRI) and believe that companies aligning to the Environment, Social and Corporate Governance Principles (ESG Principles) in their corporate responsibility (CR) work will be more attractive investments than other companies in the long run.
We integrate responsible investment into our investment processes and portfolio management in order to improve the risk/profit ratio of the VNT investment portfolio. In our active portfolio managament we follow the United Nations Principles of Responsible Investment.
The investment team is responsible for meeting the targets and being in compliance with the responsible investment policy when choosing the companies to invest in or excluding from the portfolio. We communicate with the board of directors and the management of our portfolio companies frequently of our responsible investment criteria. We are actively participating in the shareholders’ meetings where we use our voting power in compliance with this policy.
We assess at least once a year how do meet the targets with regards to this policy in VNT team reviews.
Power Funds’ investors represent following type of organisations:
|
Power Fund I |
Power Fund II |
Power Fund III |
|
|
Pension companies |
25,5 % |
49,4 % |
16,9 % |
|
Public sector |
29,6 % |
24,7 % |
50,0 % |
|
Funds of Funds |
0,0 % |
4,8 % |
16,9 % |
|
Enterprises |
24,3 % |
7,5 % |
7,3 % |
|
Family offices |
1,8 % |
6,2 % |
2,1 % |
|
Private people |
8,5 % |
4,3 % |
1,8 % |
|
Trusts |
3,0 % |
0,0 % |
0,3 % |
|
Universities |
0,0 % |
0,0 % |
0,4 % |
|
VNT/VNT partners |
7,5 % |
3,1 % |
4,5 % |
|
100,0 % |
100,0 % |
100,0 % |
Geographical distribution of fund investors is:
|
Power Fund I |
Power Fund II |
Power Fund III |
|
|
Finland |
92,3 % |
94,8 % |
66,1 % |
|
Europe, exl. Finland |
7,7 % |
4,9 % |
33,9 % |
|
World, exl. Europe |
0,0 % |
0,3 % |
0,0 % |
Power Fund II
Elcogen AS 2008, There Corporation Oy 2009, Wello Oy 2009, GasEK Oy 2010.
Power Fund III
Valopaa Oy 2012, Convion Oy 2013, Merus Power Dynamics Oy 2013, Siqens GmbH 2013, Cajo Technologies Oy 2013, WeSustain GmbH 2014, Norsepower Oy Ltd 2015, Distence Oy 2016, DEPsys SA 2016.
Power Fund I
OptoGaN Oy 2008, Nidecon Tech. Oy 2011, European Batteries Oy 2013,
Switch Engineering Oy 2014, Epicrystals Oy 2015, Cavitar Oy 2018.
Power Fund II
Switch Engineering Oy 2014, Dilitronics GmbH 2014, eGen Oy 2014, Epicrystals Oy 2015, Mervento Oy 2016, Visedo Oy 2017
Power Fund III
Fixteri Oy 2017, Valopaa Oy 2019, WeSustain GmbH 2021
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