About This Fund
CapMan Growth Equity Fund 2017 is an €86 million closed-end Finnish limited partnership managed by CapMan, one of the leading private equity and alternative investment managers in the Nordic region. Established in 2017 with its final close in December 2018, the fund represents the inaugural vintage of CapMan's dedicated growth equity strategy. CapMan maintains a 31% stake in the fund alongside institutional limited partners, reflecting the firm's strong commitment and alignment of interests with its investor base. The fund operates with an approximate eight-year term from its first closing date.
The fund pursues a value-add growth equity approach, targeting rapidly scaling companies in the technology and business services sectors across the Nordic countries. CapMan Growth invests in businesses that have demonstrated product-market fit and are on a trajectory toward market leadership, providing both capital and active operational support to accelerate growth, international expansion, and product development. The fund typically takes minority stakes and works closely with management teams to drive enterprise value creation, drawing on CapMan's extensive Nordic network and decades of private markets experience to facilitate strategic partnerships and exit pathways.
CapMan Growth Equity Fund 2017 has built a diversified portfolio of high-growth technology and services companies across the Nordic region. Investments include Digital Workforce Services (robotic process automation), Front AI (conversational AI), Arctic Security (cybersecurity), Aste Helsinki (proptech), and Insplan (insurance technology). The fund has delivered several successful exits, including Picosun (acquired 2022), Avidly (listed exit 2022), Polystar (telecommunications software, acquired 2019), RealMachinery (industrial technology, 2021), Coronaria (healthcare services, 2023), and Fluido (Salesforce services, acquired 2018). As of 2024, the fund is in its value creation and harvesting phase, generating carried interest on its remaining portfolio positions.