| Investments | ||||
| Changes in values of shares, holdings and other investments | ||||
| Group | ||||
| Shares | Holdings in funds | Receivables | Total | |
| Acquisition cost 1.1.2012 | 122,512,286 | 264,487,807 | 38,859,508 | 425,859,600 |
| Increases | 18,922,283 | 57,512,724 | 7,905,079 | 84,340,085 |
| Decreases | -5,106,521 | -21,227,421 | -7,102,141 | -33,436,083 |
| Transfers between items | 5,222,233 | -5,222,233 | 0 | |
| Acquisition cost 31.12.2012 | 141,550,281 | 300,773,109 | 34,440,213 | 476,763,603 |
| Accumulated reductions in value 1.1.2012 | -40,296,022 | -57,657,508 | -7,934,706 | -105,888,237 |
| Increases | -9,986,267 | -12,389,402 | -1,811,015 | -24,186,684 |
| Decreases | 3,192,014 | 8,260,946 | 4,517,256 | 15,970,216 |
| Transfers between items | ||||
| Accumulated reductions in value 31.12.2012 | -47,090,275 | -61,785,965 | -5,228,465 | -114,104,705 |
| Book value 31.12.2012 | 94,460,006 | 238,987,144 | 29,211,748 | 362,658,898 |
| The fair value of the Group’s investments was €411.6m as at 31 December 2012 (€355.4m as at 31 December 2011). | ||||
| Parent company | ||||
| Shares | Holdings in funds | Receivables | Total | |
| Acquisition cost 1.1.2012 | 97,367,298 | 313,053,158 | 35,728,410 | 446,148,866 |
| Increases | 17,752,307 | 60,137,998 | 6,051,329 | 83,941,634 |
| Decreases | -4,606,736 | -21,979,288 | -6,499,311 | -33,085,334 |
| Transfers between items | 3,844,569 | -3,844,569 | 0 | |
| Acquisition cost 31.12.2012 | 114,357,438 | 351,211,869 | 31,435,859 | 497,005,165 |
| Accumulated reductions in value 1.1.2012 | -24,235,212 | -85,927,232 | -6,691,913 | -116,854,358 |
| Increases | -8,707,191 | -14,034,126 | -1,443,683 | -24,185,000 |
| Decreases | 2,245,395 | 8,260,946 | 4,171,550 | 14,677,890 |
| Transfers between items | ||||
| Accumulated reductions in value 31.12.2012 | -30,697,009 | -91,700,412 | -3,964,046 | -126,361,467 |
| Book value 31.12.2012 | 83,660,429 | 259,511,457 | 27,471,813 | 370,643,698 |
| The parent company’s shares in funds include the parent company’s investments in Start Fund I Ky. | ||||
| The fair value of the parent company’s investments was €411.8m as at 31 December 2012 (€355.4m as at 31 December 2011). | ||||
| Holdings in group companies | ||||||
| Company | Reg. office | Sector | Parent, holding % | Parent, book value | Parent, commitment | |
| Start Fund I Ky | Helsinki | Investment | 100% | 20,524,311 | 54,576,647 | |
| Start Fund Management Oy | Helsinki | Investment | 100% | 9,144 | ||
| Tesi Fund Management Oy | Helsinki | Investment | 100% | 10,000 | ||
| TOTAL | 20,543,455 | 54,576,647 | ||||
| The commitment includes Finnish Industry Investment Ltd’s investments in Start Fund I Ky at the acquisition price of €50,438,761 and the remaining commitment of €4,137,886. | ||||||
| Other investments | ||||||
| Holdings in limited partnerships | ||||||
| Company | Parent, holding % | Parent, book value | Parent, commitment* | Profit/loss, as per company’s latest adopted financial statements | Shareholders’ equity, as per company’s latest adopted financial statements | Date |
| Aboa Venture II Ky | 14.0 % | 29,814 | 510,292 | -253,905 | 731,306 | 12/31/11 |
| Aboa Venture III Ky | 30.8 % | 501,631 | 985,676 | 2,709,329 | 2,293,650 | 12/31/11 |
| Armada Mezzanine Fund II Ky | 11.5 % | 1,213,467 | 3,070,657 | -11,039,894 | 21,312,038 | 12/31/11 |
| Armada Mezzanine Fund III Ky | 11.4 % | 4,686,088 | 7,485,186 | 3,786,811 | 31,878,757 | 12/31/11 |
| Aura Capital Rahasto V Ky | 13.3 % | 0 | 447,095 | -3,102 | 714,536 | 12/31/10 |
| CapMan Buyout IX Fund A L.P. | 3.4 % | 7,226,671 | 10,000,000 | -7,175,680 | 197,011,460 | 12/31/11 |
| CapMan Buyout VIII Fund A L.P. | 2.8 % | 5,479,345 | 6,496,678 | 11,730,391 | 220,323,072 | 12/31/11 |
| CapMan Equity VII A L.P. | 6.4 % | 3,081,608 | 3,081,608 | 459,326 | 80,022,667 | 12/31/11 |
| CapMan Life Science IV Fund L.P. | 18.5 % | 7,159,943 | 9,120,887 | -40,052 | 35,779,870 | 12/31/11 |
| Capman Mezzanine V Fund FCP-SIF | 15.8 % | 4,036,048 | 15,213,114 | 1,541,814 | 20,619,923 | 12/31/11 |
| CapMan Public Market Fund FCP-SIF | 7.2 % | 5,645,034 | 6,128,446 | 1,237,548 | 100,580,635 | 12/31/11 |
| CapMan Technology Fund 2007 L.P. | 10.3 % | 4,377,118 | 7,000,000 | 395,079 | 38,115,960 | 12/31/11 |
| Conor Technology Fund I Ky | 40.0 % | 7,385,312 | 8,000,000 | -1,396,827 | 11,049,995 | 12/31/11 |
| Conor Technology Fund II Ky | 20.0 % | 2,142,817 | 10,000,000 | -1,356,548 | 2,339,614 | 12/31/11 |
| Creandum II LP | 10.4 % | 3,532,241 | 4,809,303 | 17,160,375 | 50,752,486 | 12/31/11 |
| Creandum III LP | 6.7 % | 401,395 | 7,500,000 | ** | ** | ** |
| DFJ Esprit Capital III LP | 12.5 % | 5,629,291 | 9,721,952 | -2,053,000 | 21,594,000 | 12/31/11 |
| EQT V (No. 1) Limited Partnership | 0.2 % | 4,100,037 | 4,786,135 | 1,173,418,000 | 3,909,992,000 | 12/31/11 |
| Eqvitec Technology Mezzanine Fund I A Ky | 42.3 % | 998 | 328,481 | -16,815 | 261,643 | 12/31/11 |
| Eqvitec Teknologiarahasto I Ky | 18.3 % | 435,439 | 1,416,975 | 398,100 | 3,268,279 | 12/31/11 |
| Fenno Rahasto Ky | 7.9 % | 25,448 | 47,049 | 62,209 | 517,349 | 12/31/11 |
| Finnmezzanine Rahasto III A Ky | 9.9 % | 1,369,660 | 1,448,539 | 7,268,351 | 24,912,488 | 12/31/11 |
| Finnventure Rahasto IV Ky | 5.7 % | 41,153 | 80,635 | 754,405 | 237,151 | 12/31/11 |
| Finnventure Rahasto V ET Ky | 49.5 % | 237,906 | 9,937,505 | 71,796 | 1,152,667 | 12/31/11 |
| GrowHow Rahasto I Ky | 21.4 % | 1,420,163 | 1,795,441 | 283,853 | 4,366,711 | 12/31/11 |
| Helmet SME Ventures II Ky | 33.1 % | 77,156 | 1,516,657 | 4,369,341 | 2,557,525 | 12/31/11 |
| Holtron Capital Fund II Ky | 29.5 % | 511,965 | 1,502,521 | -592,022 | -982,086 | 12/31/11 |
| Industri Kapital 2000 Limited Partnership VII | 6.2 % | 1,403,197 | 1,403,197 | -988,951 | 49,182,380 | 09/30/11 |
| Intera Fund I Ky | 8.0 % | 6,818,350 | 9,006,246 | -1,653,928 | 88,826,265 | 12/31/11 |
| Inveni Life Sciences Fund I Ky | 33.7 % | 8,248,011 | 10,000,000 | -599,989 | 17,453,365 | 12/31/11 |
| Inveni Secondaries Fund II Follow On Ky | 10.2 % | 408,430 | 1,188,055 | -1,778,302 | 7,862,972 | 12/31/11 |
| Inveni Secondaries Fund II Ky | 5.0 % | 395,666 | 2,042,932 | -13,049,280 | 18,458,411 | 12/31/11 |
| Inveni Secondaries Fund III Ky | 12.1 % | 331,361 | 9,144,909 | 2,193,385 | 3,947,873 | 12/31/11 |
| Inventure Fund Ky | 24.2 % | 5,408,777 | 9,564,423 | -1,325,379 | 12,309,028 | 12/31/11 |
| Jokilaaksojen Rahasto I Ky | 34.2 % | 205,888 | 889,468 | -4,853 | 1,329,400 | 12/31/11 |
| K III Denmark K/S | 22.7 % | 6,667,946 | 10,000,000 | -315,588 | 18,063,000 | 12/31/11 |
| Kasvurahastojen Rahasto Ky | 40.0 % | 14,432,557 | 53,968,259 | -200,063 | 22,570,023 | 12/31/11 |
| Lapin Rahasto I Ky | 36.4 % | 814 | 911,804 | 9,516 | 269,961 | 12/31/11 |
| Life Sciences Partners III B.V. | 13.8 % | 4,903,394 | 5,186,595 | -5,302,142 | 37,511,017 | 12/31/11 |
| Life Sciences Partners IV B.V. | 21.8 % | 4,896,132 | 10,000,000 | -1,225,551 | 15,815,103 | 12/31/11 |
| Litorina IV L.P. | 3.7 % | 4,628,558 | 10,666,057 | -2,235,053 | 41,844,309 | 12/31/11 |
| MB Equity Fund II Ky | 10.0 % | 3,184 | 75,802 | 26,839,547 | 4,882,831 | 12/31/11 |
| MB Equity Fund III Ky | 8.6 % | 4,922,694 | 6,218,143 | 22,033,272 | 65,391,759 | 12/31/11 |
| MB Equity Fund IV Ky | 3.9 % | 2,754,758 | 9,937,202 | -1,847,188 | 33,769,129 | 12/31/11 |
| MB Equity Fund Ky | 17.4 % | 224 | 224 | -880 | 10,063 | 12/31/11 |
| MB Mezzanine Fund II Ky | 5.0 % | 25 | 25 | -466 | 8,196 | 12/31/11 |
| Merlin Biosciences Fund III L.P. | 8.6 % | 3,687,101 | 7,822,967 | -1,438,000 | 43,829,000 | 12/31/11 |
| Midinvest Fund I Ky | 31.4 % | 0 | 77,302 | 58,650 | 2,052,263 | 12/31/11 |
| Midinvest Fund II Ky | 25.6 % | 1,851,320 | 3,825,564 | -398,707 | 11,447,345 | 12/31/11 |
| Midinvest Fund PH I Ky | 25.0 % | 84,122 | 2,000,000 | -2,411,621 | 1,032,205 | 12/31/11 |
| Midinvest Fund YPY I Ky | 33.3 % | 117,910 | 986,622 | -239,285 | 511,080 | 12/31/11 |
| NEXIT Infocom 2000 Fund LP | 6.1 % | 169,024 | 2,062,967 | 71,335 | 4,271,297 | 12/31/11 |
| Nexit Infocom II L.P. | 17.6 % | 7,288,931 | 15,000,000 | -2,178,191 | 41,993,428 | 12/31/11 |
| Nordic Venture Partners II K/S | 8.6 % | 1,640,202 | 8,274,465 | -8,621,000 | 64,336,000 | 09/30/11 |
| Northzone VI L.P. | 5.8 % | 4,353,072 | 7,500,000 | -3,943,102 | 55,968,886 | 12/31/11 |
| Norvestor VI L.P. | 3.7 % | 3,954,893 | 15,390,166 | -1,163,787 | -1,163,787 | 12/31/11 |
| Open Ocean Fund Three Ky | 11.2 % | 669,167 | 5,000,000 | -748,048 | 545,564 | 12/31/11 |
| Polaris PE III K/S | 2.8 % | 3,842,933 | 8,655,246 | 5,933,923 | 56,561,587 | 12/31/11 |
| Power Fund I Ky | 29.6 % | 1,507,215 | 1,575,636 | 5,299,085 | 11,155,196 | 12/31/11 |
| Power Fund II Ky | 23.9 % | 11,531,507 | 14,945,635 | -1,354,084 | 30,645,595 | 12/31/11 |
| Power Fund III Ky | 13.9 % | 627,968 | 10,000,000 | -231,019 | 163,361 | 12/31/11 |
| Procuritas Capital Investors III 'B' L.P. | 6.7 % | 214,258 | 509,674 | 363,713 | 12,443,149 | 12/31/11 |
| Profita Fund III Ky | 27.6 % | 4,361,600 | 10,631,527 | -3,392,560 | 24,287,420 | 12/31/11 |
| Promotion Equity I (A) Ky | 23.5 % | 2,252,095 | 2,362,003 | 1,211,451 | 5,482,629 | 12/31/11 |
| Seedcap II Ky | 24.8 % | 343,736 | 1,496,299 | -651,344 | 1,271,533 | 12/31/11 |
| Seedcap Ky | 37.4 % | 2,077,975 | 4,104,392 | -1,916,177 | 3,253,474 | 12/31/11 |
| Sentica Buyout III Ky | 13.0 % | 11,066,889 | 14,873,916 | 323,032 | 68,510,081 | 12/31/11 |
| Sentica Buyout IV Ky | 8.8 % | 0 | 10,000,000 | ** | ** | ** |
| Sentica Kasvurahasto II Ky | 23.7 % | 3,356,266 | 7,256,375 | 6,028,383 | 19,692,170 | 12/31/11 |
| Sentica Terveysteknologia I Ky | 33.3 % | 622,636 | 2,267,588 | 1,002,424 | 2,398,398 | 12/31/11 |
| Slottsbacken Fund II Ky | 18.5 % | 0 | 1,269,451 | 604,974 | 17,844 | 12/31/11 |
| Sponsor Fund II Ky | 9.3 % | 854,846 | 2,245,773 | -338,677 | 13,972,213 | 12/31/11 |
| Sponsor Fund III Ky | 5.7 % | 4,261,084 | 9,945,442 | -6,775,824 | 39,640,992 | 12/31/11 |
| Sunstone Technology Ventures II K/S | 7.5 % | 4,656,433 | 6,121,850 | 7,440,960 | 70,530,492 | 12/31/11 |
| Suomi Välirahoitusrahasto I Ky | 44.2 % | 2,899,074 | 4,702,275 | 436,336 | 7,142,298 | 12/31/11 |
| Tampereen Seudun Kasvurahasto Tasku Ky | 35.5 % | 127,983 | 191,677 | -7,474 | 445,991 | 12/31/11 |
| Tamseed Ky | 23.3 % | 248,669 | 1,965,170 | -589,726 | 2,180,759 | 12/31/11 |
| Teknoventure Rahasto II Ky | 36.5 % | 1,745,070 | 2,052,090 | 628,854 | 5,554,851 | 12/31/11 |
| Teknoventure Rahasto III Ky | 46.8 % | 5,315,576 | 7,061,561 | 133,167 | 6,514,639 | 12/31/11 |
| Vaaka Partners Buyout Fund II Ky | 8.1 % | 72,106 | 10,004,671 | ** | ** | ** |
| Vaaka Partners Buyout I Ky | 19.7 % | 5,768,917 | 8,164,214 | 17,601,762 | 19,601,918 | 12/31/11 |
| Wedeco Fund III Ky Kb | 35.1 % | 995,457 | 1,251,553 | -7,620 | 2,129,414 | 12/31/11 |
| Wedeco Fund IV Ky | 45.3 % | 1,306,035 | 4,592,844 | -457,472 | 1,157,755 | 12/31/11 |
| Wedeco Seed Fund Ky Kb | 25.3 % | 74,345 | 469,933 | -443,647 | 294,145 | 12/31/11 |
| Verdane Capital VII K/S | 7.2 % | 7,036,514 | 11,981,257 | 14,440,457 | 61,408,646 | 12/31/11 |
| VisionPlus Fund I Ky | 18.5 % | 826,500 | 5,000,000 | ** | ** | ** |
| TOTAL | 238,987,145 | 516,272,279 | ||||
| * The commitment includes Finnish Industry Investment Ltd’s investments at acquisition price and the remaining commitments. | ||||||
| ** New fund / adopted financial statement information was not available when financial statements were compiled. | ||||||
| The investments in Start Fund I Ky are presented as holdings in group companies. | ||||||
| Other investments | |||||||||
| Other shares and receivables | |||||||||
| Company | Reg. office | Sector | Parent, holding % | Parent, shares book value | Parent, subordinated and other loans, book value | Parent, investments total, book value | Profit/loss, as per company’s latest adopted financial statements | Shareholders’ equity, as per company’s latest adopted financial statements | Date |
| 3 Step IT Group Oy | Helsinki | Business & industrial services | 7.1 % | 4,890,158 | 4,890,158 | 4,735,627 | 25,275,102 | 31.12.2011 | |
| Altona Mining Limited | West Perth, Australia | Energy & environment | 2.0 % | 2,101,547 | 2,101,547 | -23,172,056 | 66,181,214 | 30.06.2012 | |
| Artul Holding Oy | Helsinki | Real estate | 12.1 % | 41,953 | 41,953 | 0 | 355,240 | 12/31/11 | |
| Beneq Oy | Vantaa | Business & industrial products | 12.8 % | 3,999,967 | 3,999,967 | -2,891,169 | 3,355,027 | 12/31/11 | |
| Componenta Oyj | Helsinki | Business & industrial products | 6.4 % | 2,748,332 | 4,666,655 | 7,414,987 | -3,100,000 | 41,100,000 | 12/31/11 |
| Conformiq Inc. | Saratoga, USA | Computer & consumer electronics | 18.4 % | 1,050,000 | 1,050,000 | -1,668,508 | -650,204 | 12/31/09 | |
| Conor SPV I Ky (Imbera Electronics Inc.) | Espoo | Computer & consumer electronics | 18.3 % | 636,476 | 636,476 | -1,158,454 | -1,800,972 | 12/31/11 | |
| Detapo Oy (Pohjolan Design-Talo) | Helsinki | Construction | 15.8 % | 3,951,061 | 4,735,050 | 8,686,112 | 252,616 | 23,752,616 | 12/31/11 |
| EMC Talotekniikka Oy | Helsinki | Construction | 6.4 % | 169,815 | 1,584,557 | 1,754,372 | 159,513 | 1,167,440 | 12/31/11 |
| Endomines AB | Stockholm, Sweden | Energy & environment | 8.0 % | 3,476,548 | 3,476,548 | -1,281,082 | 10,070,691 | 12/31/11 | |
| Eniram Oy | Helsinki | Computer & consumer electronics | 9.5 % | 1,337,669 | 1,337,669 | -789,709 | -52,277 | 12/31/11 | |
| European Batteries Oy | Espoo | Energy & environment | 0.5 % | 0 | 0 | 0 | -12,413,053 | 4,455,716 | 12/31/11 |
| Finnprotein Oy | Uusikaupunki | Chemicals & materials | 8.9 % | 2,888,925 | 4,395,216 | 7,284,141 | -4,612,546 | 27,577,742 | 12/31/11 |
| Glaston Oyj Abp | Helsinki | Business & industrial products | 8.6 % | 2,352,806 | 2,352,806 | -14,446,000 | 53,153,000 | 12/31/11 | |
| Halikko Group Oy | Oulu | Business & industrial products | 15.1 % | 0 | 0 | 0 | -9,327,057 | -14,114,761 | 06/30/11 |
| HES Sairaankuljetus Group Oy | Helsinki | Transportation | 20.8 % | 0 | 0 | -9,173,481 | -9,210,875 | 12/31/11 | |
| Holiday Club Resorts Oy | Helsinki | Consumer services | 12.2 % | 4,411,244 | 4,411,244 | 4,845,590 | 46,567,016 | 09/30/12 | |
| Incap Furniture Oy | Oulu | Business & industrial products | 17.2 % | 0 | 0 | -4,068,548 | -8,519,702 | 12/31/09 | |
| Incap Oyj | Helsinki | Computer & consumer electronics | 10.5 % | 415,247 | 415,247 | -4,313,000 | 1,311,000 | 12/31/11 | |
| IonPhasE Oy | Tampere | Chemicals & materials | 13.3 % | 999,139 | 88,141 | 1,087,280 | -2,317,986 | -1,453,431 | 12/31/11 |
| Keliber Oy | Kaustinen | Energy & environment | 15.6 % | 1,500,000 | 1,500,000 | -394,579 | -478,577 | 12/31/11 | |
| Lamor Corporation Ab | Porvoo | Energy & environment | 10.1 % | 4,749,995 | 4,749,995 | 7,948,405 | 11,957,651 | 12/31/11 | |
| Machinery Group Oy | Helsinki | Business & industrial services | 1,397,193 | 1,397,193 | -1,195,307 | 7,293,254 | 12/31/11 | ||
| Maventa Oy | Helsinki | Business & industrial services | 0 | 0 | -290,723 | 424,093 | 12/31/11 | ||
| Mendor Oy | Espoo | Life sciences | 15.2 % | 2,445,700 | 2,445,700 | -3,899,546 | 1,707,788 | 12/31/11 | |
| MetGen Oy | Turku | Chemicals & materials | 18.2 % | 799,988 | 799,988 | -297,002 | 552,049 | 12/31/11 | |
| Mitron Group Oy Ltd | Forssa | Business & industrial products | 16.7 % | 1,499,853 | 1,499,853 | -181,383 | 5,238,888 | 12/31/11 | |
| MultiTouch Oy | Helsinki | Computer & consumer electronics | 8.3 % | 999,990 | 500,000 | 1,499,990 | -816,721 | 1,762,423 | 12/31/11 |
| Nexstim Oy | Helsinki | Life sciences | 5.8 % | 174,000 | 174,000 | -6,343,184 | 2,990,760 | 12/31/11 | |
| Nordic Mining ASA | Oslo, Norway | Energy & environment | 4.5 % | 1,023,782 | 1,023,782 | -3,694,093 | 5,821,898 | 12/31/11 | |
| Nordic Tank Oy | Oulu | Business & industrial products | 25.7 % | 0 | 1,955,000 | 1,955,000 | -1,086,000 | -1,045,000 | 12/31/11 |
| Northland Resources S.A. | Luxembourg | Energy & environment | 1.3 % | 5,540,383 | 5,540,383 | -29,421,903 | 262,549,656 | 12/31/11 | |
| Panostaja Oyj | Tampere | Business & industrial services | 5,750,000 | 5,750,000 | -2,490,000 | 45,173,000 | 10/31/12 | ||
| Pesmel Oy | Kauhajoki | Business & industrial products | 3.5 % | 0 | 0 | 0 | -1,846,735 | 3,158,819 | 06/30/12 |
| Polar Spring Oy | Asikkala | Consumer goods & retail | 10.6 % | 250,000 | 250,000 | -340,099 | 1,638,181 | 12/31/11 | |
| Silecs International Pte. Ltd. | Singapore | Computer & consumer electronics | 15.6 % | 2,908,715 | 2,908,715 | -3,404,360 | -6,527,421 | 12/31/10 | |
| SkySQL Corporation Ab | Espoo | Computer & consumer electronics | 7.8 % | 999,999 | 999,999 | -1,989,637 | -260,270 | 12/31/11 | |
| Sotkamo Silver Ab | Stockholm, Sweden | Energy & environment | 14.2 % | 2,169,769 | 2,169,769 | -773,657 | 8,346,919 | 12/31/11 | |
| Suominen Oyj | Tampere | Business & industrial products | 9.0 % | 7,777,778 | 7,777,778 | -9,535,000 | 108,737,000 | 12/31/11 | |
| ThermiSol Oy | Sastamala | Construction | 20.0 % | 0 | 2,400,000 | 2,400,000 | 2,113,683 | 3,135,617 | 12/31/11 |
| Top-Sport Suomi Oy | Helsinki | Consumer goods & retail | 17.7 % | 0 | 0 | 2,367,387 | -753,867 | 02/29/12 | |
| Ursviken Group Oy | Helsinki | Business & industrial products | 24.6 % | 2,179,193 | 2,179,193 | 2,462,000 | 3,774,000 | 12/31/11 | |
| Valmet Automotive Oy | Uusikaupunki | Business & industrial products | 17.0 % | 7,885,280 | 7,885,280 | 1,191,000 | 36,546,000 | 12/31/11 | |
| Viavia Oy (Staffpoint Holding Oy) | Helsinki | Business & industrial services | 19.5 % | 5,265,973 | 5,265,973 | * | |||
| TOTAL | 83,641,285 | 27,471,813 | 111,113,097 | ||||||
| * New company / adopted financial statement information was not available when financial statements were compiled. | |||||||||
| The company sectors are presented in accordance with the European Private Equity and Venture Capital Association’s (EVCA) sector classification. | |||||||||
| An entry of 0 for book value means that the investment has been valued as having zero value. | |||||||||
| Other investments | ||||||||||
| Other shares and receivables (Start Fund I Ky) | ||||||||||
| Company | Reg. office | Sector | Group, holding % | Group, shares book value | Group, subordinated and other loans, book value | Group, investments total, book value | Profit/loss, as per company’s latest adopted financial statements | Shareholders’ equity, as per company’s latest adopted financial statements | Date | |
| Aidon Oy | Jyväskylä | Energy & environment | 17.1 % | 1,485,094 | 1,485,094 | 3,003,629 | 985,625 | 12/31/11 | ||
| ASAN Security Technologies Oy | Espoo | Business & industrial products | 26.9 % | 326,562 | 326,562 | -333,657 | 149,004 | 12/31/11 | ||
| Aspida Oy | Helsinki | Business & industrial services | 23.3 % | 334,865 | 334,865 | -59,000 | 451,974 | 12/31/11 | ||
| Axel Technologies Oy | Turku | Communications | 9.6 % | 0 | 100,000 | 100,000 | -1,902,685 | -2,273,345 | 12/31/11 | |
| Bearing Drive Oy | Vaasa | Business & industrial products | 12.3 % | 0 | 0 | 0 | -123,601 | -135,244 | 12/31/10 | |
| Bookit Oy | Helsinki | Communications | 3.8 % | 159,887 | 159,887 | 45,873 | 925,442 | 12/31/11 | ||
| Cavitar Oy | Tampere | Business & industrial products | 25.1 % | 719,650 | 71,000 | 790,650 | -641,849 | 28,701 | 12/31/11 | |
| Chat Republic Games Oy | Helsinki | Consumer services | 10.5 % | 0 | 50,000 | 50,000 | -405,904 | -1,053,670 | 12/31/11 | |
| Chip-Man Technologies Ltd | Tampere | Business & industrial products | 4.6 % | 0 | 277,050 | 277,050 | -615,294 | -2,293,124 | 12/31/11 | |
| Churnside Leasing B.V. | Amsterdam, NL | Financial services | 2,435 | 2,435 | -185,815 | -296,863 | 12/31/10 | |||
| Coöperatie Greenvironment U.A. | Amsterdam, NL | Financial services | 8.7 % | 0 | 0 | -568,748 | -1,757,093 | 12/31/10 | ||
| Ecolane Finland Oy | Espoo | Business & industrial services | 2.7 % | 101,600 | 101,600 | 373,384 | 743,945 | 12/31/11 | ||
| Ekahau, Inc | Saratoga, USA | Business & industrial products | 6.5 % | 274,818 | 274,818 | -6,768,185 | -5,600,006 | 12/31/11 | ||
| EpiCrystals Oy | Tampere | Business & industrial products | 19.7 % | 1,251,334 | 1,251,334 | -940,314 | 4,572,357 | 12/31/11 | ||
| European Batteries Oy | Espoo | Energy & environment | 0.0 % | 0 | 0 | -12,413,053 | 4,455,716 | 12/31/10 | ||
| Genestia Group Oy | Turku | Business & industrial services | 5.0 % | 0 | 84,000 | 84,000 | -881 | 16,488 | 12/31/11 | |
| Kenno Tech Oy | Espoo | Business & industrial products | 5.1 % | 0 | 105,000 | 105,000 | -255,689 | -398,246 | 12/31/11 | |
| Laurantis Pharma Oy | Turku | Life Sciences | 1.7 % | 89,915 | 89,915 | -2,119,438 | 1,725,137 | 12/31/11 | ||
| Market Media Oy | Helsinki | Communications | 10.0 % | 49,965 | 49,965 | 49,633 | 159,443 | 12/31/11 | ||
| nLight Photonics Corporation | Vancouver, USA | Business & industrial products | 1.1 % | 680,000 | 680,000 | -1,193,724 | 38,378,051 | 12/31/12 | ||
| Nordic Koivu Oy | Tohmajärvi | Consumer goods & retail | 15.8 % | 28,350 | 56,700 | 85,050 | 6,525 | 35,323 | 12/31/11 | |
| Odoroff Oy | Piispanristi | Business & industrial products | 1.1 % | 0 | 0 | -44,949 | -40,702 | 12/31/11 | ||
| Optomed Oy | Oulu | Business & industrial products | 19.2 % | 893,485 | 893,485 | -794,360 | -372,642 | 12/31/11 | ||
| Plusdial Oy | Helsinki | Communications | 4.1 % | 53,400 | 53,400 | -83,678 | 176,670 | 12/31/11 | ||
| Suomen Puheentunnistus Oy | Lahti | Business & industrial products | 19.4 % | 0 | 0 | 0 | -165,361 | -3,364,298 | 12/31/11 | |
| Taipale Telematics Oy | Tampere | Business & industrial products | 1.9 % | 5,816 | 5,816 | 109,736 | 583,529 | 12/31/11 | ||
| The Switch Engineering Oy | Vaasa | Energy & environment | 10.3 % | 2,748,548 | 993,750 | 3,742,298 | -1,221,000 | 19,998,000 | 12/31/11 | |
| Ubipart Oy | Helsinki | Communications | 13.0 % | 200,049 | 200,049 | 13,918 | -68,910 | 12/31/11 | ||
| Vaadin Oy | Turku | Business & industrial services | 15.8 % | 304,376 | 304,376 | 125,415 | 1,057,166 | 12/31/11 | ||
| Winwind Oy | Helsinki | Energy & environment | 7.6 % | 0 | 0 | -59,056,418 | -181,750,712 | 12/31/11 | ||
| Virtual Air Guitar Company Oy | Espoo | Consumer services | 3.4 % | 0 | 0 | 0 | -311,394 | 302,135 | 12/31/11 | |
| WOT Services Oy | Helsinki | Consumer services | 23.9 % | 1,111,007 | 1,111,007 | -705,112 | 295,552 | 12/31/11 | ||
| TOTAL | 10,818,721 | 1,739,935 | 12,558,656 | |||||||
| The company sectors are presented in accordance with the European Private Equity and Venture Capital Association’s (EVCA) sector classification. | ||||||||||
| An entry of 0 for book value means that the investment has been valued as having zero value. | ||||||||||
