Korona Invest

What Korona Invest does

Korona Invest is a Helsinki-based Finnish private equity firm founded in 2006 that specializes in buyout and growth investments in domestic small and medium-sized enterprises (SMEs) with turnover typically between EUR 2–20 million. The firm operates as a registered Alternative Investment Fund Manager under Finnish AIFM law, regulated by the Finnish Financial Supervisory Authority, and invests across diverse sectors including food and beverage, software, industrial automation, property management, intralogistics, and consumer products. Korona Invest manages four private equity funds totaling approximately EUR 235 million in committed capital, with the fourth fund (EUR 80 million) raised in October 2021. As of the most recent disclosures, the firm has completed 38 platform investments and 30 exits, with portfolio companies having executed more than 100 add-on acquisitions, added over 4,000 employees collectively, and grown on average 3x in size during ownership periods.

The business model is the standard closed-end PE model: Korona Invest charges ongoing management fees on assets under management and earns carried interest upon successful portfolio exits. Its eight-person core investment team is complemented by a network of nine-plus sector-specialist advisors and is led by CEO Juho Mäkiaho with founder/senior advisor Vesa Lehtomäki and chairman Pasi Lehtinen. Distribution to investee companies is relationship-driven, sourced through entrepreneur referrals, direct outreach, and the firm's advisory network rather than auctions. On the LP side, capital is raised directly from Finnish institutional investors, family offices, foundations with CSR mandates, and key persons — including reinvestment by previous portfolio company owners, which is a distinctive feature of the fund-raising model. The firm is a signatory to the UN Principles for Responsible Investment and holds memberships in Finnish Venture Capital Association, FIBS, and Finsif, embedding ESG into both fundraising and value creation.

Name

Korona Invest

Legal name

Korona Invest Oy

Website

https://koronainvest.fi

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

Korona Invest is a Helsinki-based Finnish private equity firm, founded in 2006, that makes majority and minority buyout and growth investments in domestic SMEs with EUR 2–20 million turnover, deploying EUR 235 million across four funds via an eight-person investment team.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Private equity funds
• SME buyout investments
• Growth capital investing
• Alternative investment management
• Venture growth investing

Headquarters

HQ city

Espoo

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Management fees: Ongoing management fees charged on assets under management
2. Carried interest: Performance-based carried interest from fund investments upon successful exits

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Korona Invest is a Finnish private equity firm that raises and manages private equity funds to make majority and minority equity investments in domestic small and medium-sized enterprises with EUR 2-20 million turnover. It supports portfolio companies through organic growth, add-on acquisitions, and internationalization as an active ownership partner, earning revenue through management fees on assets under management and carried interest on successful exits.

Product overview

Korona Invest is a Finnish private equity investment firm founded in 2006, specializing in buyout and growth investments in small and medium-sized domestic Finnish enterprises. It makes both majority and minority investments and supports portfolio companies through organic growth, business acquisitions, and internationalization. The firm has raised approximately EUR 235 million across four private equity funds and operates with an eight-person investment team and an advisory board. As an investment firm, Korona Invest does not offer a standalone technology product or software platform; its core offering is equity capital and active ownership support for growth-stage companies across diverse sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Korona Invest Fund IV Finnish SME-focused private equity fund raised at EUR 80 million from institutional investors, family offices, management co-investors, and previous portfolio company owners, deploying capital into majority and minority investments in domestic SMEs. Targeted at Finnish institutional LPs and family offices seeking SME exposure.
• Private Equity Buyout and Growth Investment Services Active ownership investment services for Finnish SMEs with EUR 2-20 million turnover, including majority and minority equity investments, organic growth support, add-on acquisition financing, internationalization guidance, and exit planning. Targeted at Finnish SME founders and owner-managers.

Quantifiable outcome

• EUR 235 million raised across four funds
• +4 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• United Nations Principles for Responsible Investment (UN PRI)coreStrategic or Co-development Partner · 30 December 2021Korona Invest signed the UN PRI as part of its commitment to promoting environmental, social, and governance (ESG) factors. The PRI organization provides a framework for evaluating ESG capabilities and operational development.
• Finnish Venture Capital Association (Pääomasijoittajat ry)coreStrategic or Co-development PartnerMember of the Finnish Venture Capital Association, following its recommendations on openness and transparency as well as Code of Conduct rules. The association sets standards for the private equity industry in Finland.
• Finnish Business & Society (FIBS)minorStrategic or Co-development PartnerMember of the largest corporate responsibility network in the Nordic countries, accelerating responsibility factors towards a more sustainable world.
• Finsif (Finland's Sustainable Investment Forum)minorStrategic or Co-development PartnerMember of the sustainable investment forum promoting responsible investment that considers environmental, social, and governance factors in financial management and investment decisions.
• Federation of Finnish Enterprises (Suomen Yrittäjät)minorStrategic or Co-development PartnerMember of the Federation of Finnish Enterprises supporting entrepreneurship and SME development in Finland.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Norvestor: Nordic mid-market private equity firm with multiple funds focused on Nordic SME buyouts. Active in Finland and operates in a similar size band and strategy tier as Korona Invest.
• Sentica: Finnish private equity firm focused on mid-sized Finnish companies with a lower-mid-market strategy. Sentica is highly comparable to Korona Invest in target-company size band, Finnish SME focus, and active-ownership approach. Reeti Saarinen, now Partner at Korona, previously worked at Sentica for seven years, reinforcing the comparability.
• Sponsor Capital: Finnish private equity firm investing in small and medium-sized Finnish businesses through buyouts and growth capital. Operates in the same Finnish SME lower-mid-market segment as Korona, making it one of the closest direct competitors for both deal flow and LP capital.
• Vaaka Partners: Finnish private equity firm focused on buyouts and growth investments in Finnish SMEs, with a similar AUM tier and active-ownership philosophy. Directly competes for the same Finnish SME deal flow and LP base as Korona Invest.
• MB Funds: Nordic mid-market private equity firm investing in SME buyouts across the Nordics. Comparable to Korona in fund size tier and lower-mid-market strategy, though it operates across multiple Nordic geographies rather than Finland only.
• Adelis Equity Partners: Nordic private equity firm focused on mid-sized Nordic companies, including Finnish SMEs. Operates with similar buy-and-build philosophy and comparable target company sizes.

Emerging players

• EQUAS: Smaller Finnish private equity investor focused on Finnish SME transactions. Targets a similar size band but at a smaller scale than Korona, making it an emerging competitor in the same Finnish SME segment.

Broad incumbents

• CapMan: One of the largest Nordic private equity and asset management groups, listed in Helsinki. Operates multiple PE strategies across the Nordics; a broad incumbent in the Finnish PE ecosystem that competes for both deals and LP capital alongside Korona.
• Nordic Capital: Large Nordic private equity firm operating across multiple strategies and geographies. Although at a much larger scale, it competes in the broader Finnish and Nordic mid-market and represents the upper-bound incumbent peer for the segment Korona operates in.
• Taaleri: Listed Finnish asset manager with private equity and other alternative investment strategies. Not a dedicated buyout specialist like Korona, but a relevant incumbent in the Finnish private-markets landscape that competes for LP capital and adjacent deal flow.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/korona-invest

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments19 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korona Invest