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Positive signs with new fundraisings in the subsided deal environment

Nordic Private Equity Data Snapshot, May 2020

Nordic Private Equity Data Snapshot, May 2020

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

Later entry of several early stage venture deals to the database turned the direction of the Nordic deal volume in March to growth, opposite to the decline that was reported a month ago. March growth was followed by a rapid slowdown as the uncertainties related to the COVID-19 cooled down the deal environment.

The Nordic private equity deal volume declined significantly in each country in April. The drop in the VC deals was rapid in April, where as the buyout deals continued the downward trend that started already in the end of 2019. Nordic aggregate three-month rolling deal count declined below 100% level, to 92%. 

In Finland, March was rather active in terms of the number of deals, compared to the slow February. April deal count came in between those two months.

Monthly Nordic Buyout and VC deal volume
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Fundraisings

Finnish venture capital firm Icebreaker.vc backing up “pre-founders” and pre-seed to seed-stage startups  with deep domain expertise, has launched a second fund, with a first close of EUR 50M. In addition to Finland, Icebreaker.vc seeks targets from Sweden and Estonia.

Nordic FoodTech VC, the first Nordic fund to support technology companies renewing the food system, has held the first close at EUR 25M. The overall target is to raise EUR 50M of investment capital. Nordic FoodTech VC is targeting early-stage technology companies engaged in making the food chain more resource-efficient and ecological, producing food in new ways, or promoting healthy eating.

Monthly Nordic Buyout and VC deal volume
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Deal picks of the month

Finnish startup company Logmore, a pioneer in QR code data logging, has closed a EUR 4.5M Series A equity investment round. The round was led by NordicNinja, in partnership with Icebreaker.vc, Trind Ventures, Tekton Ventures, and Jaakkoo-Taara, to fund Logmore’s global expansion.

Finnish Health Tech company Neuro Event Labs raised a EUR 3.9M series A round from Hadean Ventures, SHS Capital and Maki.vc to support the commercial expansion of their lead product Nelli™. Neuro Event Labs offers more personalized, accurate and scalable diagnostics to treat epilepsy patients worldwide.

Private Equity Data Snapshot compiles monthly deal volume data from Finland and the Nordics. Read our older Private Equity Data Snapshots.

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