Driving home Europe’s largest impact fund to date, Summa Equity closes third fund at €2.3 billion

Driving home Europe’s largest impact fund to date, Summa Equity closes third fund at €2.3 billion

Stockholm-based Summa Equity has announced the close of its third fund at a whopping €2.3 billion. Demonstrating incredible investor interest, the oversubscribed fund closed within four months and includes cornerstones from pension funds, insurance companies, foundations and endowments, financial investors, and family offices hailing from Canada, the U.S., the Nordics, the United Kingdom, the DACH region, France, Benelux, Singapore, Japan, and Australia. The new fund will carry on with the firms’ commitment to an SDG-based thesis.

A certified B Corporation, Summa Equity was established in 2016 by Reynir Indahl, and now counts close to €4 billion in AUM, with Fund 1 clocking €470 million, and Fund 2 garnering €680 million. Summa was one of the first private equity firms to go all-in on committing to the UN’s Sustainable Development Goals initiative.

The firm has made 22 investments to date including Norway’s Documaster and Ecoonline, and Sweden’s Metry.

“Our societal challenges are increasing, environmentally, socially, and with falling trust and governance issues. All companies are either part of the problem or can be a solution. As we have seen in our portfolio, companies offering positive solutions for society prosper in a turbulent world. With the scale-up in Fund III, we hope that Summa can have significantly increased its positive impact on an international scale, investing in companies across the spectrum from young, high-growth companies to more mature firms,” commented Indahl. “Impact investing, or what we call Private Equity 4.0, is becoming mainstream as a growing number of PE firms are adding to their existing capabilities the effective management of impact on “externalities” to address environmental, social, and governance challenges.”

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