Finland’s state-owned venture capital and private equity investor has outlined a multi-tiered co-investment strategy designed to connect Qatari institutional capital with European tech scale-ups and large-scale industrial projects. The co-investment pitch was delivered during a high-level bilateral trade delegation hosted recently by Qatar Chamber in Doha. Samuel Wendelin, director at Tesi (Finnish Industry Investment), told Qatari business leaders that the state entity manages roughly €4bn invested across nearly 140 funds and indirectly in close to 1,500 companies. “We are return-driven, invest on market terms, and always alongside private investors as a minority owner,” Wendelin emphasised. He noted that Tesi acts as a natural partner for sovereign and institutional capital seeking long-term exposure in Europe. “In that sense, we are perhaps the most natural counterpart in Finland for a sovereign or institutional investor. Our job is to bring in capital, not to compete with it,” Wendelin explained. To facilitate entry into Finland’s technology and industrial markets, Wendelin presented three primary co-investment routes. The first door involves direct co-investments in growth-stage scale-ups alongside international institutional partners. He noted that few institutional investors globally match the long-term ownership perspective of Qatari capital. “When we invest in a company, we welcome partners who share a long-term view, and few investors in the world have practised long-term ownership longer than those in this room,” Wendelin stated. The second door offers participation through venture funds. Wendelin highlighted that Finnish venture funds raised a record €700mn last year, including the country’s first fund exceeding €400mn. Tesi serves as an anchor investor in a large share of these funds, assisting international partners in identifying top fund managers and co-investing with institutional limited partners, according to Wendelin. “Tesi is an anchor investor in a large share of Finnish funds, so we can help you identify good managers, and we co-invest with international LPs to those funds,” Wendelin pointed out. The third door centres on industrial-scale projects. Wendelin explained that Finland provides some of Europe’s cleanest and most competitively priced electricity, backed by stable regulation, available land, and cooling infrastructure. These conditions are crucial for energy-intensive sectors, including data centres, hydrogen, batteries, and sustainable aviation fuel. Under a revised operational strategy, Tesi holds an explicit mandate to invest in these large-scale industrial assets alongside private capital. “Under our new strategy, Tesi is mandated to invest in these large-scale industrial projects alongside private capital, and we’re actively looking for partners,” Wendelin said. The investment pitch comes as Finland’s innovation ecosystem rapidly expands its international footprint. Wendelin stated that Finland ranks as the seventh most innovative economy in the world, with Helsinki standing as the EU’s most innovation-intensive cluster. The country of 5.6mn people has produced 18 unicorns to date. “Finland has produced 18 unicorns, and we are currently investing in the next generation that is emerging from our universities and R&D facilities,” Wendelin announced. Finnish startups raised a record €1.9bn last year, with roughly 75% of that total originating from international investors. Wendelin pointed to radar satellite company ICEYE, which raised over €1bn at a €10.5bn valuation in June, joining Supercell and Wolt as Finland’s third decacorn. Tesi targets a combined valuation of €250bn for Finland’s startup and growth ecosystem by 2035, he said. “Quantum computing, health technology, space, clean transition, defence, and dual use are sectors where Finnish companies now lead rather than follow,” Wendelin said. Wendelin stressed that the Finnish state maintains shareholder positions across major global leaders, including Nokia, defence firm Patria, and space technology vendor ReOrbit, co-investing alongside private and international capital. “Tesi is the Finnish state investment partner for exactly the kind of long-term diversifying capital that Qatar National Vision 2030 describes,” Wendelin added.

His Highness the Amir Sheikh Tamim bin Hamad Al-Thani sent a cable of congratulations to the King Letsie III of the Kingdom of Lesotho on the anniversary of his country's Independence Day.

A chance encounter in Geneva revived a decades-old family connection, as Piranesi returned to Doha with new creations shaped by colour, architecture and generational craftsmanship at Doha Jewellery and Watches Exhibition (DJWE) 2026 this year.For Julian Hajibay, managing director of the family-run fine jewellery house Piranesi, the brand’s relationship with Qatar is more than a business journey: it is a story of two families whose connection stretches back decades and was unexpectedly rediscovered.Speaking to Gulf Times at the Alfardan Jewellery pavilion, Hajibay recalled how a meeting in Geneva five years ago eventually brought Piranesi to Doha and revived an older family relationship.Piranesi is among the brands exhibiting at the Alfardan Jewellery pavilion at this year’s exhibition, which runs until October 3 at the Doha Exhibition and Convention Centre.Hajibay said he first met Ali Alfardan during a small jewellery exhibition in Geneva, without initially knowing who his visitor was.“He asked me for the price, he said okay, another item, and then next thing I know, he shakes my hand, he says I’ll see you in three weeks,” Hajibay recalled.The connection became even more remarkable when Hajibay returned to New York and told his mother, designer and Piranesi President Mimi Hajibay, about the Qatari family they had met.“She said the name Alfardan sounds familiar, I think we might have done business with them,” he said.Old paper records from the late 1980s confirmed that instinct.Hajibay said the documents showed that Alfardan’s father had previously worked with his late father, creating a family connection that predated the younger generation’s meeting in Geneva.“It was almost meant to be that our paths crossed again, and we rejuvenated the relationship,” he said.That renewed relationship eventually led Piranesi to Doha and, according to Hajibay, opened doors to markets across the Gulf, including Bahrain, Saudi Arabia, Kuwait and the UAE.“We’re grateful for Mr Alfardan for graciously inviting us that first year, and bringing us to this market, and to the Qatari people for welcoming us,” he said.At the DJWE this year, Piranesi is placing the spotlight on its Fiora and Dome collections, with both reflecting the design philosophy of Mimi Hajibay.The Fiora collection, which has evolved over the years, has been expanded with ear cuffs that can be worn without pierced ears, alongside high jewellery sets featuring diamonds and blue sapphires.Hajibay said the collection was designed with changing generations of clients in mind.“When the next generation, not only of Piranesi entered the business, but as well as the next generation for our clients, they want to start buying jewellery and gifts for their children, that’s where the Fiora Collection came to be,” he said.The floral design draws inspiration from Mimi Hajibay’s French garden, with its four petals representing the four corners of a French garden.The pieces are intended to move between everyday wear and more formal occasions.Alongside the floral influence is Piranesi’s fascination with architecture.Hajibay said his mother’s appreciation for Italian architecture, particularly historic domed structures, inspired the Dome collection.“She always goes back to her roots in Italy, and she says nothing in the world is like the Italian architecture of old, where you have the dome vaulted ceilings,” he said.That architectural influence can also be seen in the gemstones themselves, including a sugarloaf emerald cuff Hajibay described as a high-jewellery piece valued at more than QR3mn.For Hajibay, however, the value of Piranesi’s work lies as much in continuity as in individual pieces.“Timeless luxury generation to generation” remains the family’s guiding idea, he said, a philosophy reflected not only in the jewellery, but in the relationship between two families that unexpectedly found their way back to each other.