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Nordic deals declining the second consecutive month for the first time during the past year - Finnish deals on the rise

KPMG Nordic Private Equity Data Snapshot, June 2021

KPMG Nordic Private Equity Data Snapshot, June 2021

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

Deal activity

  • The overall Nordic PE deal volume declined the second consecutive month in May for the first time during the last twelve months and the amount was slightly below the current LTM average of 133 deals. On a country comparison Finland was the only country with increased amount of deals in May compared to April.
  • The 3-month rolling Nordic deal figure in April came to 101%, still pointing growth for the Nordic aggregate deals compared to the previous 3-month period, although largely thanks to the extremely active deal volume in March.
  • In Finland the 3-month rolling deal figure accelerated again amounting to 115%. The amount of deals was the second highest value this year after March 2021.
Monthly Nordic Buyout and VC deal volume
Monthly Nordic Buyout and VC deal volume

Fundraisings

  • Bocap announced the launch of its third private equity fund ‘’Bocap SME Achievers Fund III’’ dedicated to established, outperforming Finnish high growth SME’s with sales of EUR 4-50M in prominent industries. The fund’s total investment capacity is anticipated to reach some EUR 100M together with co-investments, while its total direct commitments would settle to around EUR 70M. The first closing that took place in Easter amounted to nearly EUR 50M.
  • SNÖ Ventures, an Oslo-based venture capital firm, announced the launch of a its second fund targeting $100M to invest in early stage, high-growth Nordic tech companies with the potential to disrupt, create or capture large markets through transformative technology or solutions. In connection with the new fund, SNÖ plans to expand the organization into Sweden and Denmark.
Monthly Nordic Buyout and VC deal volume
Monthly Nordic Buyout and VC deal volume

*) 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

  • The wearable fitness manufacturer Oura announced a $100M Series C financing round. The round, led by The Chernin Group and Elysian Park (the Dodgers’ investment arm), brings the wearable company’s total funding up to $148M.
  • Private equity firms CapMan Growth and Mandatum Private Equity acquired minority stakes in business technology transformation company Sofigate. Sofigate’s revenue in 2020 was EUR 100M and the company is aiming to achieve an annual turnover of EUR 500M by 2025.
  • Intera Partners joined Midagon as new growth partner and shareholder and will continue to build Midagon’s growth story together with management and personnel. Midagon is a Finnish, independent consulting company focused on business transformation program management with revenue of EUR 13M in 2020.

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

Private Equity Data Snapshot will be on summer holiday in July. The next snapshot will be published again in August.

Have a nice summer!