eEquity

What eEquity does

eEquity is a Nordic private equity firm founded in 2010 in Stockholm by Magnus Wiberg (co-founder of PriceRunner) and Patrik Hedelin (co-founder of Boo.com). The firm manages five sequential funds (eEquity I–V) with combined assets under management of approximately SEK 5 billion and a total of more than EUR 500 million deployed across roughly 40 portfolio investments since inception. eEquity targets profitable, entrepreneur-led growth companies in the Nordic lower mid-market, typically writing equity tickets of EUR 5–20 million into businesses with EUR 5–40 million of revenue and aiming to scale them beyond EUR 100 million. Its sector focus sits at the intersection of technology and retail, spanning DTC brands, SaaS (notably Voyado), digital platforms (Prisjakt, Gordon Delivery), and, more recently, industrial niches such as defense equipment (Snigel) and packaging for nicotine pouches (Sävjo).

The firm earns revenue through traditional private equity mechanics: recurring management fees on committed AUM from limited partners (leading European family offices, the European Investment Fund, and other institutional investors) plus carried interest on successful realizations. Reported performance includes a ~45% IRR in Fund IV and outsized exit multiples (PriceRunner at 15x to Klarna at a SEK 9 billion-plus valuation, Royal Design at 7.3x, iDeal of Sweden partial exit at 10x). Operating support is delivered through the proprietary "eEquity Toolbox" methodology and a dedicated Operational Excellence Team — currently anchored by former H&M Managing Director Madeleine Persson — that supplements management in scaling, branding, and international expansion. The "eEquity family" of ~40 portfolio companies functions as a curated peer network for cross-portfolio knowledge sharing and supplier introductions.

eEquity's stated go-to-market is sales-led and sector-focused, with the firm claiming that approximately 90% of investments are executed without competing bidders — a function of proprietary deal flow built over 14 years. The team comprises 10 members based in Stockholm. Distribution channels are direct: the firm makes investments directly into target companies through its managed funds, typically leading financing rounds and taking active ownership or majority stakes. Deal sourcing is reinforced by thought leadership at industry conferences (D-Congress, Slush), podcasts (Framtidens E-Handel), and curated events such as the annual AI-day for portfolio companies.

Name

eEquity

Legal name

eEquity AB

Website

https://eequity.se

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

eEquity is a Stockholm-based Nordic private equity firm founded in 2010 that manages ~SEK 5B across five funds, investing EUR 5–20M equity tickets in profitable, tech-enabled growth companies in the Nordic lower mid-market across retail, DTC, SaaS, and select industrial verticals.

Ownership category

akta.pro rank

Product category

Private Equity / Growth Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Business Services (B2B) Growth Equity (FSANACAD)

Keywords

• Private equity investing
• Growth capital funds
• Buyout investments
• Venture capital
• Fund management

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management: eEquity generates revenue through management fees charged on funds under management, plus carried interest (performance fees) from successful exits. The firm manages around SEK 5 billion on behalf of leading family offices, the European Investment Fund (EIF), and other institutional investors across five funds.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

eEquity is a Nordic private equity firm that invests growth capital into tech-enabled businesses in the Nordic lower mid-market, typically through EUR 5-20 million equity tickets across five funds (eEquity I through V). The firm takes active ownership positions, working hands-on with management teams and applying its proprietary eEquity Toolbox methodology and Operational Excellence team to scale portfolio companies from EUR 5-20 million in revenues to EUR 100 million and beyond. The firm manages approximately SEK 5 billion on behalf of family offices, the European Investment Fund, and other institutional investors, generating revenue through management fees and carried interest.

Product overview

eEquity is a Nordic private equity firm offering a unified investment platform across five funds (eEquity I through V) targeting the lower mid-market with EUR 5-20m equity tickets. The firm backs tech-enabled businesses with proven profitability and durable growth potential, operating as a sector-focused fund at the intersection of technology and retail. eEquity's core offering centers on providing growth capital alongside active ownership support through its proprietary 'eEquity Toolbox' methodology and an Operational Excellence Team that helps portfolio companies scale globally. The portfolio comprises approximately 40 companies spanning physical products, digital services, and software, which form a collaborative community enabling knowledge sharing and expertise exchange among similar businesses.

Differentiator

Problem solved

Functional benefit

Products and services

• eEquity Investment Funds (Funds I through V)

Quantifiable outcome

• ~45% IRR achieved in eEquity IV fund
• +2 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered minor and core.

• Torkelson MöblerminorStrategic or Co-development Partner · 12 May 2026Venture Design (eEquity portfolio company) acquired Torkelson Möbler, a Swedish furniture company with nearly 70 years of experience, to strengthen its position in traditional furniture retail.
• Sävjo (Sävjo Plastic)coreStrategic or Co-development Partner · 20 April 2026eEquity entered into agreement to acquire Sävjo, a leading Swedish manufacturer of high-quality plastic packaging for nicotine pouches with over 50 years of history. The company has strong patents and technical solutions, generated SEK 306 million in revenue in FY2025, and has annual production capacity of approximately 400 million cans.
• SnigelcoreStrategic or Co-development Partner · 29 May 2025eEquity became Snigel's biggest shareholder following a funding round that valued the defense equipment company at approximately SEK 500 million. Snigel designs tactical military gear including backpacks and bulletproof vests for elite forces.
• Cura of SwedenminorStrategic or Co-development Partner · 30 January 2025Venture Design (eEquity portfolio company) acquired Cura of Sweden, a weighted-blanket specialist, from bankruptcy. Cura generated nearly SEK 70 million in revenue in 2024.
• VoyadocoreStrategic or Co-development Partner · 1 September 2024eEquity made a strategic investment in Voyado, a Swedish-founded Customer Experience software specialized in retail. Voyado is already a critical software provider for many of eEquity's existing portfolio companies, creating synergies within the eEquity family.
• GoogleminorGTM or Marketing Partner · 14 September 2023Google participated as a speaker at eEquity's AI-day event, sharing insights on AI transformation in e-commerce. Speaker Ted Schonbeck presented on 'AI and e-commerce'.
• IDEAL OF SWEDENminorStrategic or Co-development Partner · 14 September 2023Portfolio company IDEAL OF SWEDEN participated in eEquity AI-day, presenting case study on AI-generated ads achieving 30% higher conversion rates.
• KlingitminorStrategic or Co-development Partner · 14 September 2023Klingit participated in eEquity AI-day, presenting a case study with Lipton and live demo of AI in action.
• Pixel Nordic ABminorStrategic or Co-development Partner · 14 September 2023Pixel Nordic AB CEO Henrik Vikström presented at eEquity AI-day on strategies for boosting SEO using AI.
• TwigeominorStrategic or Co-development Partner · 14 September 2023Twigeo participated in eEquity AI-day, sharing expertise on creating top-performing ads at scale.
• KlarnaminorStrategic or Co-development Partner · 2 November 2021eEquity sold PriceRunner to Klarna at a valuation over SEK 9 billion, realizing a return of over 15x for eEquity. PriceRunner provides price comparison features to the Klarna app.
• Venture DesigncoreStrategic or Co-development PartnerVenture Design is a portfolio company where eEquity has invested nearly EUR 10 million. The company operates as a furniture sales partner with a B2B2C model. Venture Design has made multiple strategic acquisitions (Torkelson Möbler, Cura of Sweden, Dangarden, Backyard Lifestyle) as part of its growth strategy toward SEK 1 billion in revenue.
• Macade GolfminorStrategic or Co-development PartnereEquity made a strategic investment in Macade, a Swedish-founded direct-to-consumer golf apparel brand founded in 2019, with approximately 60% of revenue from the US market.
• MediatoolminorStrategic or Co-development PartnereEquity co-led a SEK 90 million investment in Mediatool, a Swedish media management platform pioneer founded in 2015, tailored for global brands and media agencies.
• Gordon DeliverycoreStrategic or Co-development PartnereEquity invested in Gordon, a fast-growing last-mile delivery provider specializing in refrigerated deliveries. Gordon serves clients including HelloFresh, Axfood, Greenfood, Simple Feast, and Coop.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Verdane: Norwegian/Nordic growth equity firm investing in tech-enabled and consumer-internet businesses at similar check sizes. Highly comparable as a sector-specialist growth investor in the Nordic lower mid-market.
• Litorina: Swedish private equity firm focused on lower mid-market Nordic companies, often in consumer and business services. Closely comparable by geography, ticket size, and ownership style.
• Valedo Partners: Swedish growth equity firm investing in Nordic SMEs with active ownership. Directly comparable in mandate, check size, and focus on entrepreneurial management teams.
• Altor Equity Partners: Nordic mid-market PE firm that has been both a competitor and counterparty to eEquity (bought iDeal of Sweden from eEquity in 2019). Highly relevant given overlapping Nordic consumer/digital mandate.
• Norvestor: Norwegian private equity firm focused on mid-market Nordic companies across consumer, business services, and tech-enabled services. Comparable by check size, geography, and active ownership model.
• Summa Equity: Nordic private equity firm investing in mission-critical businesses with focus on tech-enabled and consumer-related themes. Comparable as a sector-driven Nordic investor.
• IK Partners: Pan-European mid-market PE firm with strong Nordic presence investing in consumer and services businesses. Comparable geography and lower mid-market focus.
• Polaris Private Equity: Danish private equity firm focused on lower mid-market Nordic companies, often in consumer and B2B services. Comparable by check size and Nordic mandate.
• Accent Equity: Swedish private equity firm investing in lower mid-market Nordic companies with focus on consumer, retail, and services. Comparable mandate and ownership style.

Broad incumbents

• EQT: Large Swedish-founded global private equity firm active across the Nordics and Europe in growth and buyout strategies. Comparable as a broader incumbent in the Nordic PE landscape, though at a much larger scale than eEquity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/eequity
• Instagraminstagram.com/eequity_stockholm

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments33 records

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

Frequently asked questions about eEquity