Mandatum Asset Management’s (MAM) Growth Equity II fund is investing in Epical, a Nordic data consultancy firm. The investment supports Epical’s journey towards growth and its ambition to become the Nordic region’s most reliable and innovative data consultancy firm.
Epical is a pure-play data consultancy firm offering services and expertise that support and enable the management, application and protection of clients’ data. The company has ten offices strategically situated across several locations within Sweden and Finland serving over 400 clients with high-quality references spanning multiple domains, in both the public and private sectors. With net revenue of EUR 46 million in 2024 and approximately 400 digital experts, Epical is one of the leading service providers in the Nordic region with a domain dominance as a dedicated data consultancy firm. This investment aims to further strengthen Epical’score offering.
The EUR 22.5 million funding round is a significant milestone in Epical’s growth journey, enabling the company to build on its core competencies and accelerate its expansion in the Nordic market. KPY, previously a 100% shareholder of Epical, shall now remain the second-largest shareholder holding 50% of the total equity following the aforementioned funding round.
– As artificial intelligence and data transform almost every industry, more and more companies are seeking data-driven consultancy services. We are delighted to be partnering with KPY to help accelerate Epical’s next phase of growth. With a team of highly respected specialists and a dedicated, experienced management team, Epical has demonstrated its capabilities and is well positioned for growth. Our aim is to support Epical in strengthening its position as a leading player – both among clients and as an employer, Alexander Antas, Head of Private Equity at Mandatum Asset Management.
Epical has developed significantly, and the investment reflects the company’s potential. We believe Epical has a unique role in driving the development of data-driven business models. With its specialised expertise, Epical brings real value to its clients’ businesses. We are delighted to now be able to accelerate the company’s growth by broadening the ownership base. Epical has a clear forward-looking strategy, and together with Mandatum as our partner, we are creating a stable foundation to support Epical’s growth and development
– Anssi Lehikoinen, CEO at KPY
–We are delighted that Mandatum is joining KPY as a co-owner of Epical. We are proud of the confidence Mandatum has shown in both the potential of our offering and in us as an organization by investing in Epical. We have a strong position as experts in our niche, and we believe that this partnership will enable us to strengthen that position further. Epical looks forward to continued growth across all our business areas in Sweden and Finland, as well as opportunities in other Nordic markets. We plan to support this through relevant acquisitions, says Epical’s CEO Märit Sareyko.
The MAM Growth Equity strategy focuses on Finnish and Nordic growth companies. Their strategy focuses on actively supporting high‑growth companies by contributing expertise, networks, and flexible capital, particularly where there is a proven business model and a strong, ambitious management team.
The Growth Equity II fund focuses on actively developing the companies in its portfolio to enable their growth and internationalization. Their strategy provides a flexible minority ownership model, offering companies access to growth capital while enabling existing owners to realize liquidity. The Mandatum Growth Equity team has been involved in the development of companies such as Takomo, Integrata, Nosto, Cadmatic, Oddlygood and HappySignals.
The transaction has now received approval by relevant regulatory authorities.
For further information:
Epical
Märit Sareyko
VD, Epical
Tel. +46 70-380 4264
marit.sareyko(a)epicalgroup.com
Suzanna Abarca
Marknads- & kommunikationschef, Epical
Tel. +46 72-511 9008
suzanna.abarca(a)epicalgroup.se
Mandatum
Alexander Antas
Head of Private Equity, Mandatum Asset Management
Tel. +358 40 533 0986
alexander.antas(a)mandatumam.com
Niina Riihelä
SVP, Kommunikation, brand och hållbarhet, Mandatum Abp
Tel. +358 40 728 1548
niina.riihela(a)mandatum.fi
KPY
Anssi Lehikoinen
VD, KPY
Tel. +358 50 328 2648
anssi.lehikoinen(a)kpy.fi
Mandatum in breif
Mandatum is a financial services group that strives to create value for its stakeholders by combining expertise in investments and life insurance. Mandatum offers clients a wide range of services in asset and wealth management, savings and investments, compensation and rewards, as well as pension plans and personal insurance. Mandatum provides services to corporate, private, institutional, and wealth management clients. At the heart of Mandatum’s success are highly qualified staff, a strong brand, and a proven investment track record. Mandatum.fi/en/group
Epical in breif
Epical is a Nordic data consulting firm specializing in areas such as data and analytics, security, applications, and integrations. Together with our 400 digital experts, we support and enable the management, application, and protection of our clients’ data. We view the responsible use of data as a powerful tool for creating positive change in the world, helping us solve some of the most pressing problems for our clients and the society around us. www.epicalgroup.com/se
KPY in breif
KPY is a value-driven cooperative with over 140 years of history. It is owned by a community of approximately 19,000 members. KPY is a major Finnish employer and an influential player in the business community. Its portfolio companies operate both in Finland and internationally. www.kpy.fi/en
This marketing communication relates to Mandatum Asset Management Ltd’s (“MAM”) MAM Growth Equity II fund (the “Fund”). This document has been prepared by MAM, the portfolio manager of the Fund. The Fund is managed by Mandatum AM AIFM Ltd (Bulevarden 56, 00100 Helsinki, P.O. Box 1221, 00120 Helsinki, Finland). The Fund is available only to professional clients.
This marketing communication does not constitute investment advice. Please review the Fund’s official documents before making a final investment decision.
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