Evolver Fund I has on 30 September 2022 acquired a controlling interest in Finnish innovation funding consultancy Spinverse Oy. Evolver joins Spinverse as growth partner and will continue to pursue international growth together with Spinverse management and personnel. Founder Pekka Koponen and CEO Laura Koponen remain significant shareholders, while Laura Koponen continues to lead the company as CEO and Pekka Koponen takes up the position as Vice-Chair. The management team together with senior personnel also make equity investments in the company. Spinverse is the Fund’s fifth investment.
Spinverse is the Finnish champion and Nordic leader in managing and bringing together large, industry-led R&D&I projects and ecosystems with focus on digitalisation and green transition. With offices in Finland and Sweden, Spinverse helps clients in the Nordics and beyond solve global challenges through public funding. The clients include some of the largest players in Finland such as Borealis, Hospital District of Helsinki and Uusimaa, Metsä Group, Nokia, and Tietoevry, as well as renowned international customers such as Sandvik and ABB.
Following the recent acquisition of Swedish peer IMCG International AB, Spinverse is expected to surpass €12m in revenues in FY2022. The two companies have raised more than one billion euro in government grants for their customers. Spinverse currently employs around 100 highly qualified professionals and is constantly looking for new talent locally and in Europe. Together with Evolver, Spinverse aims to further accelerate its international expansion by means of organic growth, add-on acquisitions and digital development.
Spinverse founder, Pekka Koponen, sees great possibilities with the partnership: ”As founder and entrepreneur for 18 years, I am glad to welcome Evolver as our growth partner. We received a lot of interest from both Finnish and international investors and chose Evolver thanks to their entrepreneurial spirit, understanding of Nordic culture, and genuine focus on the people aspects of value creation. Together we now have the tools, know-how and resources necessary to accelerate our growth and internationalization journey.”
”We are impressed with the ambition, drive and mission-based mindset of the Spinverse team, as well as the results they have achieved. We believe Spinverse has a very strong, and ever more relevant, value proposition. We appreciate the unwavering commitment towards solving real global challenges, and it makes us humble and proud to become sponsors of a business focused on tackling pressing global challenges of energy crisis, bioeconomy, green transition, health, and digitalisation for a better Europe,” says Johan Porko, Partner at Evolver Equity.
For more information, please contact:
Johan Porko, Evolver Equity, tel +358 40 549 1518
Pekka Koponen, Spinverse, tel. +358 40 545 0008
About Evolver Equity
Evolver is a Finnish private equity investor specialized in Nordic small-cap buyouts. Evolver’s mission is to help owner-led companies realize their potential in a sustainable way by contributing with know-how, tools and capital. Since foundation in 2009, Evolver has completed more than 30 corporate transactions. Typical investment situations are accelerating growth, internationalization, and industry consolidation. Evolver is a registered Alternative Investment Fund Manager under the supervision of the Finnish Financial Supervisory Authority and a member of the Finnish Venture Capital Association. The investors in Evolver Fund I are leading Finnish institutional investors. www.evolverequity.com
