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List of investments in portfolio
as of 31 December 2017

(Data will be updated and missing pieces included as soon as possible.)
Investment Operation Finnish company* Finnfund’s financing** Agreement year
Cambodia-Laos Development Fund Private equity fund 2009
Mekong Brahmaputra Clean Development Fund L.P. Private equity fund 2010
Tropical Asia Forest Fund Private equity fund 2012
BOPA Pte Ltd Fund/Microfinance USD 3,000,000 2017
Everest Power Generation Co. Ltd. Power plant Wärtsilä Oyj 2013
Fun Factory Ltd. Textiles Logonet Oy, Desperado Oy USD 1,200,000 2017
First Finance Plc. Financial institution   2013
Prasac Microfinance Institution Ltd Microfinance   USD 15,000,000 2016
Sathapana Limited Microfinance   2014
Avain China Holding Oy Information technology Avain Technologies Oy 2013
China Finland Maanshan Steel Co.Ltd. Metal products Metalliset Oy 2012
GreenStream Energy Efficiency Investments Ltd. Energy efficiency Several Finnish technology providers 2014
LVDU Lapland Food Co., Ltd. Dairy products Lapland Food Oy 2012
Norrhydro Hydraulic System (Changzhou) Co. Ltd. Manufacturing of hydraulic sylinders Norrhydro Group Oy 2011
Peikko Construction Accessories (Zhangjiagang) Co., Ltd Metal products Peikko Group Oy 2014
XTC Company Oy Electrical equipment Mekitec Oy 2010
Ashley Alteams India Pvt. Ltd. Aluminium components Alteams Group 2009
Gemco Kati Exploration Pvt. Ltd. Mining support service activities Oy Kati Ab Kalajoki 2016
Ojala (India) Engineering Pvt. Ltd. Metal products Ojala-Yhtymä Oy 2009
Stera Engineering (India) Pvt. Ltd. Contract manufacturer of electromechanics Stera Technologies Oy 2011
VME Precast Pvt. Ltd. Concrete elements Valkeakosken Betoni Oy 2009
SaraRasa Biomass Biofuels Dovre Group 2012
Frontier Tower Associates Pte Ltd Telecommunication infrastructure USD 10,000,000 2017
Burapha Agro-Forestry Co., Ltd Forestry and wood products   2016
Nam Sim Power Company Limited Hydro power   2011
Munkh-Evseg LLC Hotel 2010
XacBank Bank 2016
Dolma Impact Fund I Private equity fund 2014
mBank Philippines Microfinance   2011
Commercial Leasing and Finance PLC (CLC) Microfinance   USD 11,000,000 2015
A.T. Biopower Co., Ltd. Biopower plant Private Energy Market Fund Ky, Pöyry Oyj 2003
Thai Biogas Energy Company Ltd. Biogas Private Energy Market Fund Ky 2009
Australis Aquaculture Vietnam Limited Aquaculture USD 9,500,000 2017
AfriCap Microfinance Investment Ltd. Microfinance 2007
AfricInvest Fund Ltd. I Private equity fund 2004
AfricInvest Fund Ltd. I B Private equity fund 2007
AfricInvest Fund Ltd II Private equity fund 2008
AfricInvest Fund Ltd. III Private equity fund 2014
Afrinord Hotel Investments A/S Hotels 2005
Atlantic Coast Regional Fund Private equity fund 2008
Aureos Africa Fund LLC Private equity fund 2009
Catalyst Fund Private equity fund 2011
Creditinfo East Africa Credit information EUR 2,400,000 2015
European Financing Partners Development financing 2004
European Financing Partners III Development financing 2009
European Financing Partners IV Development financing 2010
Evolution II (Mauritius) Private equity fund USD 15,000,000 2017
Fanisi Venture Capital Fund Private equity fund 2010
Fidelity Equity Fund II Limited Private equity fund 2008
GEF Africa Sustainable Forestry Fund, L.P. Forestry Fund 2011
Green Resources AS Forestry and wood products 2012
GroFin East Africa Fund LLC Private equity fund 2007
Miro Forestry Company Forestry and wood products 2014
Mobisol Solar energy systems 2016
Mobisol Solar energy systems EUR 10,000,000 2017
Norsad Finance Limited Development financing 2011
SFC Finance Limited Bank 2014
Silverlands Fund Private equity fund 2011
EthioChicken (Agflow Poultry) Poultry production USD 10,000,000 2016
M-Birr Etiopia Information technology 2011
M-Birr Etiopia II Information technology 2014
M-Birr Etiopia III Information technology 2015
M-Birr Etiopia IV Information technology 2016
M-Birr Etiopia V Information technology EUR 1,000,000 2017
Schulze Global Ethiopia Growth and Transformation Fund I Private equity fund   2014
SINI Furniture Interior Design PLC Furniture Henrik Puustinen EUR 1,000,000 2015
Ghana Airport Cargo Centre Logistics USD 11,000,000 2014
Elgon Road Developments Limited Hotel 2009
Fuzu Information technology Fuzu Oy EUR 599,999.76 2016
Lake Turkana Wind Power Wind power Peikko Group Oy 2013
Sanergy Inc. Waste management and recycling USD 1,249,999 2017
African Foundries Limited Steel Wärtsilä Oyj 2009
Hakan-Quantum Biomass Fired Power Plant Biomass fired power plant Fortum Power and Heat Oy, Andriz Group USD 15,000,000 2016
New Forests Company (Rwanda) Limited Forestry and wood products 2016
Goldtree Sierra Leone Limited Food production 2011
Evolution One LP Private equity fund 2008
Horizon Fund III Trust Private equity fund 2007
Kilombero Valley Teak Company Ltd. I Forestry and wood products 2000
Kilombero Valley Teak Company Ltd. I Forestry and wood products 2011
Kilombero Valley Teak Company Ltd. II Forestry and wood products 2005
Kilombero Valley Teak Company Ltd. III Forestry and wood products 2009
Kilombero Valley Teak Company Ltd. IV Forestry and wood products 2010
Kilombero Valley Teak Company Ltd. V Forestry and wood products 2011
Kilombero Valley Teak Company Ltd. VI Forestry and wood products 2012
Kilombero Valley Teak Company Ltd. VIII Forestry and wood products 2015
Kilombero Valley Teak Company Ltd. IX Forestry and wood products USD 468,600 2016
New Forest Company (Tanzania) Limited Forestry and wood products 2014
Precision Air Services Ltd. Airline company 2008
Sound and Fair Tanzania Limited Forestry and wood products 2016
Tanira Ltd. Hand pumps Lojer Oy 1991
Ecobank Transnational Incorporated Bank   USD 8,000,000 2017
New Forests Company (Uganda) Limited Forestry and wood products   USD 10,000,000 2015
UpEnergy Ltd. Energy efficiency Climate Wedge Oy 2013
Noksel A.S. Steel pipes Nokia Oyj 1992
Catalyst MENA Clean Energy Fund Private equity fund   2016
Arabia One For Clean Energy Investments PSC Solar power 2014
Falcon Ma’an for Solar Energy LLC Solar power 2014
FRV Solar Jordan Solar power ABB Suomi 2016
Jordan Solar One (Cayman) / Jordan PSC Solar power ABB Suomi 2014
CASEIF II Corporation Ltd. Private equity fund 2007
Central American Mezzanine Infra Fund I and II (CAMIF) Private equity fund 2014
Central American Renewable Energy and Cleaner Production Facility (CAREC) Private equity fund 2006
Methax Power plant Wärtsilä Oyj USD 20,000,000 2017
Forest First Colombia S.A.S (”FFC”) Forestry and wood products USD 10,000,000 2017
Bosforo, Ltda. de C.V. Solar power USD 15,000,000 2017
Los Laureles Small hydropower 2011
Mezapa Hydroelectric Project Small hydropower 2010
Valle Solar Power Project Solar power ABB Finland 2015
CIFI – Corporación Interamericana para el Financiamiento de Infraestructura, S.A Financial institution 2004
SEAF Latam Growth Fund Private equity fund 2008
The Forest Company Ltd. Forestry and wood products 2010
Pro Eucalipto Holding S.A.P.I de C.V. Forestry and wood products Dieffenbacher Panelboard Oy 2014
Banco Lafice-Bancentro S.A. Bank 2008
San Francisco S.A. Warehousing and transportation support USD 12,000,000 2017
SEAF Central and East European Growth Fund LLC Private equity fund 2000
SEAF South Balkan Fund B.V. Private equity fund 2009
MP Russia Oy Food products Myllyn Paras Oy Konserni 2012
OOO Skaala Windows and doors Skaala Oy 2014
Oy Nordic Russian Management Co – NORUM Fund management 1995
Rani Plast Kaluga LLC Plastic products Ab Rani Plast Oy 2011
Aqueduct Ltd. Metal products Macring Oy 2010
Althelia Climate Fund SICAV-SIF Environment fund 2013
Dasos Timberland Fund I Forestry fund Dasos Capital Oy 2010
Global Environment Emerging Markets Fund III, L.P. (GEEMF) Private equity fund 2007
Interact Climate Change Fund S.A. Development financing 2011
Jumo World Limited Information Technology USD 11,996,500 2017
MBH B.V. Microfinance 2011
Moringa S.C.A. Sicar Agroforestry fund 2013
ShoreCap International Ltd. II Microfinance 2009
WWB Capital Partners, LP Microfinance 2012


*) Shareholder or significant technology provider
**) Finnfund’s disclosure policy was updated in September 2016. Since then Finnfund has published for example its share of financing of new investments.