Summa Equity closes first fund at SEK 4.5 billion

    Stockholm (NordSIP) – Summa Equity, a young private equity manager based in Stockholm and Oslo, just announced the closing of its first fund at SEK 4.5 billion, which exceeded the initial target of SEK 3.3 billion. The fund’s investments will be focused on four megatrend driven themes: resource scarcity, energy efficiency, changing demographics and tech-enabled businesses. These themes are strongly aligned with ESG concerns and Summa Equity’s stated goal is to generate long-term sustainable growth and profitability. As part of this commitment the firm will be the first Nordic Private Equity firm to report towards the UN Sustainable Development Goals (SDGs).

    Summa Equity was founded in 2016 by five partners, Reynir Indahl, Jenny Keisu, Johannes Lien, Christian Melby and Tommi Unkuri, to become a specialised private equity firm in the Nordic lower mid-market. “Our investment strategy is designed to address the challenges associated with generating long-term profitability in a volatile market underpinned by low economic growth. In the process we hope to be part of developing innovative solutions to some of the most pressing challenges of our time,” says Reynir Indahl, Managing Partner.

    At the time of the announcement, two deals had been completed already: Sortera, the market leader in collection and recycling of building material waste in Sweden’s largest urban areas, and eGain, a leading Nordic technology/service provider of remote optimisation and climate-based control of heating in multi-apartment buildings.

    Shortly thereafter, Summa Equity announced a third deal: Lin Education, a  Swedish education technology company founded in 2007 as distributor of IT hardware to Swedish schools.

    Partner Tommi Unkuri said: “We are very excited about concluding Summa Equity’ third investment, and the first one within the investment theme Changing Demographics. This investment also fits within another of our four themes, Tech-enabled business, where Education is a core segment. Through Lin Education we will contribute to the digitalisation of the Swedish educational system. In a time when learning is more important than ever, this is a field offering important challenges, but also huge opportunities. Being part of innovative solutions to some of the pressing challenges of our time, is a fundament in Summa Equity’s investment philosophy”.

    Picture (c) Andrey Yurlov—

    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA is Editor-in-Chief for NordSIP and Managing Director for Big Green Tree Media. She has 18 years of experience in the asset management industry in Stockholm, London and Geneva, including as a long/short equity hedge fund portfolio manager, and buy-side analyst, but also as CFO and COO in several asset management firms. Aline holds an MBA from Harvard Business School and a License in Economic Sciences from the University of Geneva.

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