Slightly accelerated pace in the Nordic PE deals, although still below the last 12 months level

KPMG Nordic Private Equity Data Snapshot, March 2022

KPMG Nordic Private Equity Data Snapshot, March 2022

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

Deal Activity

  • After a somewhat slower start for the year, the Nordic PE deal volumes picked up slightly in February, although still remaining below the last twelve months average level.
  • The last three months deal speedometer in February depicts decline for both Nordic and Finnish deal volumes as a result of the slower start for the year compared to more active deal environment in the end of last year.
  • In a country comparison, the Swedish and Finnish deals picked up significantly in February, where as the volumes in Norway and Denmark declined. December and January had been very active in both Norway and Denmark in terms of deal volumes.

Monthly Nordic Buyout and VC deal volume

monthly nordic buyout and vc deal volume

Fundraisings

  • Vendep Capital closed its Fund III at EUR 70M target size. Vendep Capital has established itself as the early-stage B2B SaaS specialist investor. This third fund will accelerate Vendep’s expansion from Finland and Estonia into the Nordic and Baltic SaaS markets.
  • Finnish venture capital firm Innovestor has launched a new Life Science & Health fund focusing on early-stage opportunities in the Nordic and Baltic countries. The fund has completed a first closing of EUR 60M and aims to increase its capital to EUR 90-120M within 12 months. 

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

  • RELEX Solutions, provider of unified retail planning solutions, announced a closure of a EUR 500M funding round at a EUR 5bn valuation led by funds managed by Blackstone Growth.
  • iPhone refurbisher Swappie announced it has raised a EUR 108M Series C round led by growth equity firm Verdane’s new green fund.
  • Valtti, a Finnish full-service IT-provider and Adelis Equity Partners’ portfolio company, was acquired by Advania, a portfolio company of Goldman Sachs Asset Management. Advania is a leading IT service provider in Northern Europe.
  • Vaaka Partners signed a deal to become the main owner of the staffing services company Bolt.Works. Bolt.Works' revenue grew by 99% to EUR 78M in 2021.

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