Sitra invests in domestic growth funds – EUR 150 million investment programme gains momentum

Sitra has significantly increased its investments in the domestic private equity market and, through these investments, in Finnish growth companies. The five-year investment programme (2026–2030), launched at the end of last year, amounts to EUR 150 million.

“Finland’s economic growth and employment ultimately depend on how bold and capable of renewal its companies are. Sitra has a long history of financing and fostering business growth. This investment also supports domestic ownership and the private equity and venture capital market, while helping companies grow, thrive and create jobs in Finland,” emphasises Atte Jääskeläinen, President and CEO of Sitra.

During the first part of the year, Sitra has made investment decisions totalling EUR 31 million in domestic funds. To date, investments have been made in funds managed by Icebreaker.vc, Intera Partners, MB Rahastot, SP Growth Partners, Vaaka Partners and Voland Partners. Together, these companies have assets under management of more than EUR 1 billion.

“There are currently many attractive opportunities in the Finnish private equity market. Fund managers are raising capital at a healthy pace, which bodes well for the financing of Finnish growth companies and, in the longer term, for economic growth,” says Sami Tuhkanen, Vice President, Investments at Sitra.

More room for manoeuvre for domestic private equity investors

Sitra’s investment commitments are directed both to buyout funds focused on unlisted SMEs and to venture capital funds specialising in the start-up scene. The new funds are still identifying potential investment opportunities, and their portfolios are only beginning to take shape. Some focus on specific sectors, such as emerging technologies or services.

In June, SP Growth Partners announced the launch of a new type of private credit fund, one of Sitra’s investment targets. The SP Growth I fund provides debt financing that bridges the gap between traditional bank lending and equity financing.

“We see a clear need in the market for this type of financing,” Tuhkanen says.

Private equity and venture capital funds are active investors that contribute in a variety of ways to the development and growth of their portfolio companies.

Strengthening funds that invest in Finland is important so that they can act as lead investors even in larger funding rounds. This enables growth companies to develop further while remaining under domestic ownership.

Sitra’s work is funded through returns on its investments

At the end of June 2026, the market value of Sitra’s investments stood at EUR 1.1 billion. The investment portfolio is diversified both across asset classes and geographically. The long-term return target is a real return of 3.5%.

Investments are made through funds, meaning that the funds themselves decide on individual portfolio investments within the framework of the fund’s rules. Since 2014, Sitra has not made any new direct corporate investments.

Currently, approximately 25 per cent of Sitra’s investments are allocated to Finland.

Sitra’s future-oriented work is funded by the returns from its capital. Annual operating expenditure amounts to approximately EUR 35 million. Sitra works to strengthen Finland’s wellbeing and promote sustainable economic growth. Its aim is to enhance Finland’s capacity for renewal together with actors from the public, private and third sectors, while seeking solutions to tomorrow’s challenges.