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Nordic Private Equity Data Snapshot, December 2019

Nordic Private Equity Data Snapshot, December 2019

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Finnish PE deals and Nordic VC fundraising going strong

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

   

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Deal activity

On a 3 month rolling level, the Nordic PE deal volume growth continued, where as on a monthly comparison the volume declined slightly in November. However, the monthly volume outperformed November last year.

Positive tone in the Finnish deals, especially in the VC sector, continued in November. On an absolute level the deal volume remained on the previous month’s level, where as relatively to the Nordic overall volumes, the share of Finnish deals continued to increase.

Monthly Nordic Buyout and VC deal volume

     

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Fundraisings

EQT Ventures II held a final close on €660m in November 2019. The fund will back startups based in Europe, typically at series-A and series-B funding rounds, but also invest in US-headquartered startups keen to expand in Europe.

Lifeline raised €130m for a new fund, Lifeline Ventures IV. The fund will invest in some 40 companies over the next five years, focusing on angel and seed investments ranging from €200k to €2m in size.

Northzone Ventures’ fund IX held a final close on €500m (hard-cap) in November 2019. The fund invests in early-stage companies based across Europe and the US east coast, focusing primarily on series-A and series-B rounds.

Monthly Nordic Buyout and VC deal volume

   

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Deal picks of the month

MaaS Global, a developer of a mobility application software designed to make transport smarter, raised €29.5m of venture funding in a deal led by BP Ventures. Mitsubishi, Mitsui Fudosan and NordicNinja VC also participated in the round.

Enfuce raised €10m of venture funding in a deal led by Maki.vc. Nordea Bank, LähiTapiola Group and Finnvera also participated in the round. The funds will be used to accelerate the company's global growth and scale the company's newly launched sustainability service.

eCraft, Finnish IT and consulting services provider, entered into a definitive agreement to be acquired by FSN Capital through an LBO for an undisclosed sum. In conjunction with the eCraft acquisition, FSN signed agreements to acquire majority stakes in Fellowmind and Orango to create a leading European group specialized in Microsoft Business Applications and Digital Workplace.