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KPMG Nordic Private Equity Data Snapshot, October 2019

KPMG Nordic Private Equity Data Snapshot, October 2019

Stabilizing Nordic PE deal volumes, following the midsummer peak

Stabilizing Nordic PE deal volumes, following the midsummer peak

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Last 3 months Nordic and Finnish Buyout and VC deal activity compared to preceding 3 months

    

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Deal activity

The Nordic PE deal volume seems to be stabilizing both in the Nordics and in Finland, following the midsummer peak and the slow start of the year. Three month rolling deal amounts also show an even figure for both regions. Compared to the previous year, the monthly volumes are lagging the 2018 levels.

Somewhat the same stabilizing trend is visible in venture capital and buyout deals on the Nordic level. Country level observation points out a slightly declining trend in Swedish and Norwegian deals, whereas in Finland and Denmark the development is rather flat or slightly positive.

Monthly Nordic Buyout and VC deal volume

  

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Fundraisings

Estonian Baltcap Management held the first close for BaltCap Private Equity Fund III on €126m in September, against the targeted €200m. The vehicle targets the “New Nordics”, comprising the traditional Nordic countries of Denmark, Finland, Iceland, Norway and Sweden as well as the Baltic countries: Estonia, Latvia and Lithuania. The fund aims to build a portfolio of 8-10 platform investments with enterprise values of €10-50m. The average equity investment will be €10-20m.

Monthly Nordic Buyout and VC deal volume

   

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Deal picks of the month

ePassi raised €41.5m of venture funding in a deal led by Bregal Milestone and First Fellow Partners on September 26. ePassi is a Finnish developer of a mobile payment platform designed to manage employee benefits in a systematic and coordinated order. 

HappyOrNot, a Finnish developer of a customer feedback monitoring platform, raised €21.5m million of venture funding in a deal led by Verdane Capital on September 19. Northzone Ventures also participated in the round. The company will use the funds to further consolidate its position as the market leader in real-time customer and employee satisfaction tracking.

Norstat AS was agreed to be acquired by Triton Partners from Verdane Capital Advisors AS and Foinco Invest AS, for an undisclosed consideration on September 20. Norstat is a Norway-based provider of data collection services with revenue of €42m.