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Nordic buyout deals holding up steadily, VC deal volume decelerating slightly after June peak

KPMG Nordic Private Equity Data Snapshot, September 2020

KPMG Nordic Private Equity Data Snapshot, September 2020

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

Deal activity

  • Nordic aggregate three-month rolling PE deal volume remained unchanged at 99%, whereas the Finnish deal count declined to minor extent to 89%. Buyout deals have held up steadily after the slowdown in the spring, when the COVID-19 situation escalated. June was a busy month in the VC field in the Nordics after which the deal volumes have slightly declined, pushing also the overall monthly deal level down.
  • In Finland August was a positive month both in terms of new fund closings and investments, especially in the VC field, still in a rather difficult environment with limited visibility to the future. The deal count in Finland in August more than doubled compared to quiet deal volume in July. Potential factors for the increase, in addition to the comparison period being the summer holiday month, could be a slower deal cycle and delayed projects preceding the summer holiday season, and repressed demand.
Monthly Nordic Buyout and VC deal volume
PE Deal Volumes

Fundraisings

  • Sponsor Capital’s fifth fund, Sponsor Fund V Ky, held its first and final close at EUR 202M. The fundraising exceeded its target size and was successfully executed within the original schedule. The new fund will continue to follow the strategy of the prior funds and will focus on building significant growth in successful small and medium-sized Finnish companies with revenue of EUR 15-150M.
  • CapMan Growth has established a new growth fund which makes significant minority investments in growth stage companies with ambitious growth and expansion goals and turnover of EUR 5–100M. Investment ticket ranges from EUR 3-20M. The fund made the first close at EUR 74M and has a target size of EUR 85M. 
Monthly Nordic Buyout and VC deal volume
PE Deal Volumes

*) Numbers represents the number of deals per country and the bar the country’s share of the Nordic aggregate deal volume

Deal picks of the month

  • Supermetrics, a company focused on data management and analysis tool for marketers, raised EUR 40M in new funding. Highland Europe led the round with participation also from IVP and OpenOcean. The funding will be used to fund the company's expansion to data warehousing for marketing.
  • Varjo, the leader in industrial-grade VR/XR hardware and software, announced it has closed a $ 54M round of Series C funding. Tesi, NordicNinja, and Swisscanto Invest by Zürcher Kantonalbank were among the new investors contributing to the round, in addition to follow-on investment participation from existing investors including Lifeline Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund.
  • Quuppa, a leading provider of real-time locating systems, received EUR 20M of development capital from Bocap and Tech Consulting Group. Bocap acted as a leading investor in Quuppa’s first ever round of funding.

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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