"Environmental issues are a clear focus for us, because they are extremely urgent."
On December 2, 2022, Helsingin Sanomat newspaper reported on the newly established RELEX Foundation. To initiate the foundation, its founders contributed funds received from the sale of RELEX Solutions shares. The article explores who are these ”Patrons of the New Era”.
This is an English summary of the Helsingin Sanomat article. The full article in Finnish can be found here.
The modern patrons starting new foundations ”might be, for example, IT industry entrepreneurs who want to use their money during their lifetime to combat climate change and prevent the social exclusion of children and young people”, writes Helsingin Sanomat.
Software company RELEX announced in February 2022 that it had raised a 500 million euro funding round. It was the largest in the history of Finnish growth companies. Part of the funding involved share trading, where the founders and employees sold shares to investors. This means that the sellers became wealthier.
However, they quickly decided not to hoard their wealth.
"Personally, I've never had a goal to accumulate wealth. I don't see what I would do with a pile of money when there are already things needed for a good life. It's quite natural to want to make it productive at this stage," says Johanna Småros, RELEX's co-founder.
CEO Mikko Kärkkäinen asked Småros and Michael Falck, co-founders, if they would join in establishing a common foundation. One of the company's first employees, Marko Nikula, also joined.
"I asked Marko about it at a Christmas party. Everyone immediately said yes," Kärkkäinen says.
Each of them has made charitable donations before. However, a foundation is more efficient for this purpose, combining their assets and continuing its operation even after them.
"Environmental issues are a clear focus because the situation is extremely urgent," says Småros.
