CapMan announces an EUR 86M fund for minority investments in unlisted growth companies from the Nordics.

CapMan, a Helsinki, Finland-based investment and asset management company, announced establishing CapMan Growth Equity, an EUR 86M ($101M) investment fund focusing on growth companies.

CapMan Growth Equity will be managed by Juha Mikkola and Antti Kummu, with the objective to focus on minority investments in unlisted companies with strong growth potential. The size of the investment is on the EUR 2-10M range, with an exit horizon of 2-5 years.

According to the company, the fund was oversubscribed from its initial target of EUR 80M, while CapMan's own contribution was EUR 26.6M, money that comes from transacting its equity position in six growth companies from the company's portfolio. The shares in those companies were transfered at fair values, without any profit, into the new fund.

CapMan, founded in 1989 and led by CEO Joakim Frimodig, is a private equity fund manager listed in Helsinki Stock Exchange, with EUR 2.7bn ($3.2bn) in assets under management.