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ICECAPITAL

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uuid002lexd

Namestring
ICECAPITAL
Websiteurl
icecapital.fi
Company typeenum
Private
Founded yearint
1999
Descriptiontext

ICECAPITAL is an independent, wholly employee-owned financial services group headquartered in Helsinki, Finland, founded in 1999. The firm operates two principal service lines: investment banking advisory and asset management, serving clients primarily in the Nordic and broader European markets.

The firm's investment banking practice has demonstrated capability in complex, first-of-kind sustainable infrastructure financings. In 2025, ICECAPITAL served as joint financial adviser, alongside DC Advisory, on Stockholm Exergi's landmark BECCS (Bioenergy with Carbon Capture and Storage) transaction in Sweden — the first financing of its kind for large-scale bioenergy carbon capture projects in Europe. The deal won "Carbon Capture Deal of the Year" at the 2025 IJGlobal Awards, evidencing the firm's positioning in the climate-finance and sustainable infrastructure advisory vertical.

The firm's business model is anchored in its employee-ownership structure, which aligns partner incentives and supports retention of senior advisory talent typical of partnership-style Nordic boutiques. With a disclosed headcount range of 11–50 employees, ICECAPITAL operates as a focused mid-market advisory platform rather than a bulge-bracket institution. Specific revenue, AUM, pricing, customer segmentation, and technology-stack data are not disclosed in the available source material, which constrains deeper quantitative analysis of the franchise.

Short descriptiontext

ICECAPITAL is a Helsinki-based, wholly employee-owned financial services group founded in 1999, offering investment banking advisory and asset management services to Nordic and European clients, with demonstrated capability in sustainable infrastructure financing.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersHelsinki, Finland
HQ citystring
Helsinki
HQ countrystring
Finland
HQ regionstring
Europe
Markets served

Serves global market

Keyword5 values
investment banking, asset management, merger advisory, corporate finance, financial advisory
Industry3 codes
1Management Buyouts (MBO/MBI) & Sponsor-Led Transactions Advisory
CodeFSAEAGAIPrimaryYes
2Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit)
CodeBPAHAOADPrimaryNo
3Fairness Opinions & Independent Financial Advice
CodeBPAHAOAFPrimaryNo
NAICS code2 codes
  • Portfolio Management and Investment Advice523940
  • Finance and Insurance52
SIC code2 codes
  • Investment Advice6282
  • Security Brokers, Dealers & Flotation Companies6211
Product category
Investment Banking
Social media profiles1 record
Cost components3 values
Personnel, Operations, Marketing or Sales
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

ICECAPITAL is an independent, wholly employee-owned financial services group providing investment banking advisory (including M&A and capital-raising financial advisory) and asset management services to corporate clients in Europe. The firm operates from Helsinki, Finland and has executed landmark cross-border mandates such as joint financial advisory on Stockholm Exergi's BECCS project financing.

Differentiator
Functional benefit
Problem solved
Product and service2 records
1Investment Banking Advisory
CategoryInvestment Banking
Description

Independent financial advisory services covering M&A, capital raising, and project finance transactions for corporate clients in Europe. Evidenced by ICECAPITAL's joint financial adviser role on Stockholm Exergi's landmark BECCS financing in 2025.

2Asset Management
CategoryAsset Management
Description

Asset management services for clients of the financial services group, complementing its investment banking advisory offering.

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight3 records

Each record includes

Type, Description

Peers10 records
1Pareto Securities
TypeDirect peer
Description

Independent Nordic investment bank offering M&A advisory, equity research, and capital markets services. Highly comparable to ICECAPITAL in boutique scale, Nordic focus, and employee-owned structure.

2DC Advisory
TypeDirect peer
Description

Global mid-market financial advisory firm that has co-advised with ICECAPITAL on the Stockholm Exergi BECCS transaction. Direct peer in cross-border mid-market M&A and capital advisory.

3Nordea
TypeBroad incumbent
Description

Nordic universal bank offering investment banking, asset management, and wealth management. Overlaps with ICECAPITAL across both advisory and asset management, but at materially larger scale.

4SEB
TypeBroad incumbent
Description

Large Nordic universal bank with a substantial investment banking division. Comparable to ICECAPITAL in serving Nordic corporate clients with M&A and capital markets services, but operates at significantly greater scale.

5Carnegie Investment Bank
TypeDirect peer
Description

Leading Nordic investment bank with M&A advisory, equity capital markets, and asset management operations. Comparable to ICECAPITAL in product mix and regional focus, though larger in scale.

6ABG Sundal Collier
TypeDirect peer
Description

Nordic investment bank with strong M&A advisory and equity capital markets franchises. Comparable to ICECAPITAL in geographic footprint and independent advisory positioning.

7Evli
TypeRegional player
Description

Finnish asset manager and investment bank with both wealth management and corporate finance operations. Comparable to ICECAPITAL in product mix and Finnish/regional focus.

8Aktia
TypeRegional player
Description

Finnish financial services group offering asset management, private banking, and corporate finance. Direct regional competitor to ICECAPITAL within the Finnish market.

9Rothschild & Co
TypeBroad incumbent
Description

Global independent financial advisory group with strong European mid- and large-cap M&A franchise. Comparable to ICECAPITAL in independent advisory positioning, though at significantly greater scale and geographic reach.

10Lazard
TypeBroad incumbent
Description

Global advisory and asset management firm with strong European M&A practice. Comparable to ICECAPITAL in advisory focus, but operates globally with much larger deal teams.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks4 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

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

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

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

ICECAPITAL

Investment Bankingicecapital.fi

ICECAPITAL is a Helsinki-based, wholly employee-owned financial services group founded in 1999, offering investment banking advisory and asset management services to Nordic and European clients, with demonstrated capability in sustainable infrastructure financing.

What ICECAPITAL does

ICECAPITAL is an independent, wholly employee-owned financial services group headquartered in Helsinki, Finland, founded in 1999. The firm operates two principal service lines: investment banking advisory and asset management, serving clients primarily in the Nordic and broader European markets.

The firm's investment banking practice has demonstrated capability in complex, first-of-kind sustainable infrastructure financings. In 2025, ICECAPITAL served as joint financial adviser, alongside DC Advisory, on Stockholm Exergi's landmark BECCS (Bioenergy with Carbon Capture and Storage) transaction in Sweden — the first financing of its kind for large-scale bioenergy carbon capture projects in Europe. The deal won "Carbon Capture Deal of the Year" at the 2025 IJGlobal Awards, evidencing the firm's positioning in the climate-finance and sustainable infrastructure advisory vertical.

The firm's business model is anchored in its employee-ownership structure, which aligns partner incentives and supports retention of senior advisory talent typical of partnership-style Nordic boutiques. With a disclosed headcount range of 11–50 employees, ICECAPITAL operates as a focused mid-market advisory platform rather than a bulge-bracket institution. Specific revenue, AUM, pricing, customer segmentation, and technology-stack data are not disclosed in the available source material, which constrains deeper quantitative analysis of the franchise.

ICECAPITAL firmographics

Firmographics
Name
ICECAPITAL
Website
https://icecapital.fi
Company type
Private
Founded year
1999
Operating status
Operating
Headcount range
11–50 employees
Short description
ICECAPITAL is a Helsinki-based, wholly employee-owned financial services group founded in 1999, offering investment banking advisory and asset management services to Nordic and European clients, with demonstrated capability in sustainable infrastructure financing.
Ownership category
akta.pro rank

ICECAPITAL industry classification

Industry
Product category
Investment Banking
NAICS
Portfolio Management and Investment Advice (523940), Finance and Insurance (52)
SIC
Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)
akta.pro primary industry
Management Buyouts (MBO/MBI) & Sponsor-Led Transactions Advisory (FSAEAGAI)
akta.pro secondary industries
Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD), Fairness Opinions & Independent Financial Advice (BPAHAOAF)

Keywords

  • Investment banking
  • Asset management
  • Merger advisory
  • Corporate finance
  • Financial advisory

Where ICECAPITAL is headquartered

Location

Headquarters

HQ city
Helsinki
HQ country
Finland
HQ region
Europe

Markets served

ICECAPITAL business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales

ICECAPITAL product offering

Product offering

Core offering

ICECAPITAL is an independent, wholly employee-owned financial services group providing investment banking advisory (including M&A and capital-raising financial advisory) and asset management services to corporate clients in Europe. The firm operates from Helsinki, Finland and has executed landmark cross-border mandates such as joint financial advisory on Stockholm Exergi's BECCS project financing.

Differentiator

Problem solved

Functional benefit

Products and services

  • Investment Banking Advisory Independent financial advisory services covering M&A, capital raising, and project finance transactions for corporate clients in Europe. Evidenced by ICECAPITAL's joint financial adviser role on Stockholm Exergi's landmark BECCS financing in 2025.
  • Asset Management Asset management services for clients of the financial services group, complementing its investment banking advisory offering.

Companies that use ICECAPITAL

Customer profile

Ideal customer profiles1 record

ICECAPITAL technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

ICECAPITAL partnerships and signals

Strategic signal

Recent moves4 records

Expansion highlights3 records

ICECAPITAL competitors and assessment

Company assessment

Direct peers

  • Pareto Securities: Independent Nordic investment bank offering M&A advisory, equity research, and capital markets services. Highly comparable to ICECAPITAL in boutique scale, Nordic focus, and employee-owned structure.
  • DC Advisory: Global mid-market financial advisory firm that has co-advised with ICECAPITAL on the Stockholm Exergi BECCS transaction. Direct peer in cross-border mid-market M&A and capital advisory.
  • Carnegie Investment Bank: Leading Nordic investment bank with M&A advisory, equity capital markets, and asset management operations. Comparable to ICECAPITAL in product mix and regional focus, though larger in scale.
  • ABG Sundal Collier: Nordic investment bank with strong M&A advisory and equity capital markets franchises. Comparable to ICECAPITAL in geographic footprint and independent advisory positioning.

Broad incumbents

  • Nordea: Nordic universal bank offering investment banking, asset management, and wealth management. Overlaps with ICECAPITAL across both advisory and asset management, but at materially larger scale.
  • SEB: Large Nordic universal bank with a substantial investment banking division. Comparable to ICECAPITAL in serving Nordic corporate clients with M&A and capital markets services, but operates at significantly greater scale.
  • Rothschild & Co: Global independent financial advisory group with strong European mid- and large-cap M&A franchise. Comparable to ICECAPITAL in independent advisory positioning, though at significantly greater scale and geographic reach.
  • Lazard: Global advisory and asset management firm with strong European M&A practice. Comparable to ICECAPITAL in advisory focus, but operates globally with much larger deal teams.

Regional players

  • Evli: Finnish asset manager and investment bank with both wealth management and corporate finance operations. Comparable to ICECAPITAL in product mix and Finnish/regional focus.
  • Aktia: Finnish financial services group offering asset management, private banking, and corporate finance. Direct regional competitor to ICECAPITAL within the Finnish market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights5 records

Customer concentration

ICECAPITAL social profiles

Digital presence

ICECAPITAL financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ICECAPITAL leadership team

Management profile

Number of profiles

Profiles1 record

ICECAPITAL funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

ICECAPITAL M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about ICECAPITAL

What does ICECAPITAL do?

ICECAPITAL is an independent, wholly employee-owned financial services group providing investment banking advisory (including M&A and capital-raising financial advisory) and asset management services to corporate clients in Europe. The firm operates from Helsinki, Finland and has executed landmark cross-border mandates such as joint financial advisory on Stockholm Exergi's BECCS project financing.

When was ICECAPITAL founded?

ICECAPITAL was founded in 1999. It employs 11 to 50 people.

Where is ICECAPITAL based?

ICECAPITAL is headquartered in Helsinki, Finland, in the Europe region.

Who are ICECAPITAL's main competitors?

Direct peers on record are Pareto Securities, DC Advisory, Carnegie Investment Bank and ABG Sundal Collier. Broad incumbents are Nordea, SEB, Rothschild & Co and Lazard. Regional players are Evli and Aktia.

Does ICECAPITAL have an API?

No public API is recorded for ICECAPITAL.

What industry is ICECAPITAL in?

ICECAPITAL's product category is Investment Banking. Its primary akta.pro industry code is FSAEAGAI, Management Buyouts (MBO/MBI) & Sponsor-Led Transactions Advisory, with a secondary code of BPAHAOAD, Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit). Its NAICS code is 523940 and its SIC code is 6282.

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Live signals
GlobeNewswireSATO buys almost 400 rental homes from ICECAPITALSATO Corporation bought 379 rental homes from ICECAPITAL Housing Fund I Ky, most in the Helsinki Metropolitan Area, for €68 million. The acquisition supports SATO's goal of increasing housing assets, with most homes near metro stations. SATO holds roughly 24,400 rental homes in Finland and St Petersburg.GlobeNewswireYIT to sell apartments to ICECAPITAL for rental useYIT signed an agreement to sell 24 apartments to ICECAPITAL Asunto 2012 Ky for approximately EUR 6 million. The apartments, located in the Helsinki metropolitan area and mostly completed, will be used for rental purposes. The deal aims to address a shortage of rental housing in the region.GlobeNewswireYIT started the construction of two apartment buildings for ICECAPITALYIT started construction of two apartment buildings for ICECAPITAL in the Helsinki metropolitan area. The projects are valued at EUR 25.5 million and will include over 110 apartments, with completion expected in summer 2015. The project is part of a broader agreement worth EUR 64 million for six buildings.GlobeNewswireLemminkäinen sells 34 apartments to ICECAPITALLemminkäinen sold 34 apartments to ICECAPITAL Asunto 2012 Ky, a real estate investment partnership, in Espoo, Lahti, Tampere, and Vantaa. The purchase price was not disclosed. The companies have cooperated since 2007.GlobeNewswireLemminkäinen sells two residential housing corporations to ICECAPITALLemminkäinen signed sale contracts for two residential housing corporations with ICECAPITAL Housing Fund III. The properties will have 56 and 42 apartments, with construction underway and completion scheduled for spring 2014. The sale price was not disclosed.GlobeNewswireSYNERGIES AND ONE-OFF COSTS RELATING TO THE INTEGRATION OF ASSET MANAGEMENT BUSINESSES OF eQ AND ICECAPITALeQ Plc acquired ICECAPITAL Asset Management on 20 November 2012, planning integration to remove overlapping functions and improve competitiveness. Net synergies are estimated at over EUR 2 million annually from 2013, with one-off costs of about EUR 1 million booked in Q4 2012. The final personnel reduction is 18 person-years, down from an original estimate of 20.GlobeNewswireCOMPLETION OF CO-DETERMINATION NEGOTIATIONS OF eQ AND ICECAPITAL ASSET MANAGEMENT AND FUND MANAGEMENT COMPANIESeQ PLC completed co-determination negotiations with ICECAPITAL asset and fund management companies on 28 November 2012. The negotiations aimed to remove overlapping functions from the acquisition, with business transfers planned for 1 January 2013. Personnel reduction of up to 19 person-years was clarified, down from an original estimate of 20.GlobeNewswireeQ AND ICECAPITAL ASSET MANAGEMENT AND FUND MANAGEMENT COMPANIES COMMENCE CO-DETERMINATION NEGOTIATIONSeQ Plc announced on 20 November 2012 its acquisition of ICECAPITAL Asset Management and its subsidiaries, with business transfers planned for 1 January 2013. The company will commence co-determination negotiations covering all personnel, estimating up to 20 person-years of reduction. The integration aims to improve competitiveness and support eQ's strategy to become a leading Finnish asset manager.GlobeNewswireISSUE OF OPTION RIGHTS TO NEW KEY EMPLOYEESeQ Plc's board issued 200,000 option rights each to Kirsi Hokka, Matti Mononen, and Jyri Viskari under the 2010 option scheme. Hokka is appointed Head of customer relations; Mononen and Viskari are key employees of ICECAPITAL Asset Management, acquired that day. The issue totals 240,000 options.GlobeNewswireYIT TO BUILD APARTMENTS WORTH EUR 46 MILLION FOR ICECAPITAL IN FINLANDYIT signed a pre-agreement with ICECAPITAL to build four rental housing projects in Finland, valued at EUR 45.8 million. The projects, totaling about 200 apartments, will be completed in stages during 2013, with construction starting in spring 2012.