Press release
29 January 2026, 11:40 a.m.
eQ has raised a total of EUR 155 million across four new private equity and venture capital funds.
The eQ PE XVIII North fund offers diversified investment exposure to private equity funds that focus on unlisted lower middle market companies in Northern Europe. The underlying commitments are made to primary funds, complemented by secondary market transactions and co-investments. Investments are diversified across industries, geographies and vintage, ultimately spanning approximately 200 portfolio companies.
The eQ PE SF VI fund acquires fund interests on the secondary market and participates in continuation funds. The fund's geographical focus and target company size are the same as those of the eQ PE XVIII North fund. eQ has also established its first dedicated co-investment fund, eQ PE Direct I. The fund makes direct co-investments in approximately 20 Northern European lower middle market companies, typically alongside eQ's underlying fund managers. Since 2015, eQ has completed co-investments across multiple countries, sectors and company situations together with more than 15 different managers.
In addition, eQ has launched its third venture capital fund, eQ VC III US. The fund invests its capital in leading North American venture capital funds, targeting elite funds investing in seed, early-stage and growth-stage companies. eQ's investment advisor is TrueBridge Capital Partners, founded in 2007 and one of the world's leading investors focused exclusively on venture capital funds.
Capital raising for all funds will continue throughout 2026. The funds are available only to professional investors. Over the past twelve years, eQ has raised more than EUR 2.0 billion for its European private equity funds. Total capital raised by eQ, including North American PE and VC funds, amounts to EUR 3.1 billion.
At the same time, eQ is strengthening its private equity organization with Janne Holmia joining eQ's private equity team as an advisor in January 2026. Holmia previously spent 17 years at Verdane Capital Advisors, including the last five years as Partner and Head of Finland. He has also served as Chairman of the Board of the Finnish Venture Capital Association. Holmia will work alongside Mika Hakola and Markus Malmi in the Sponsor & Liquidity Solutions team, which is responsible for portfolio management of the secondary and co-investment strategies.
Staffan Jåfs, Head of Private Equity at eQ Asset Management, comments:
"All of our PE strategies invest in profitable and growing lower middle market companies, typically with revenues below EUR 100 million. In this segment, entry valuations are more moderate compared to larger companies, leverage levels are lower, value creation is operational, and exits are primarily sales to industrial buyers or larger private equity funds. In this size range, return dispersion between funds is significant and top managers are selective about their investors. eQ has invested in this segment for over 20 years and has built an excellent network that provides access to the best funds.
In venture capital, performance dispersion is extremely wide, with realized returns concentrated among a very small group of managers. Market insight, networks and access to managers are critical for achieving strong returns. Our partner TrueBridge has an excellent track record and long-standing access to highly capacity-constrained funds.
Our team of ten professionals is already among the largest and most experienced teams in the Nordics focused on lower middle market investments. Janne Holmia brings valuable company-level investment experience and value creation expertise. We strongly believe in the growth of our secondary and new co-investment strategies, and through the Sponsor & Liquidity Solutions team we can flexibly allocate resources according to capacity needs. Our goal is to be a preferred partner providing extensive capital solutions to leading Northern European lower middle market managers, and Janne's addition further strengthens our market position."
Helsinki, 29 January 2026
eQ Asset Management Ltd
Further Information:
Staffan Jåfs, Head of Private Equity, eQ Asset Management Ltd
+358 (9) 6817 8736, staffan.jafs@eQ.fi
eQ is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the group total approximately EUR 13.7 billion. Advium Corporate Finance, which is part of the group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets. The share of the group's parent company eQ Plc is listed on Nasdaq Helsinki. More information about the group is available on our website at www.eQ.fi.
