Evli Growth Partners

Growth Capital Fund investing in the most promising Finnish and European growth companies.

Evli Growth Partners (EGP) is building a 200 million euro investment program. The first 60 million euro fund, EGP Fund I Ky, was established in December 2018 and closed in November 2019. The program will comprise of four funds making investments in private growth companies in Europe between years 2018-2028. We will establish new funds every two years. We believe that direct investments in later stage growth companies improves the risk/return ratio.

Investment strategy 

EGP makes minority investments in privately owned European growth companies, mainly in the Nordics and Baltics. Our mission is to support later stage growth companies in need of equity investments to fund their growth. The average initial investment size is 3-5 million euros. We target approximately 4-5 investments a year with the ambition of increasing company value through active ownership and board work. In addition to direct equity investments EGP makes few fund-of-fund investments. We apply the principles and recommendations of Invest Europe and the Finnish Venture Capital Association in our investor reporting.

Our investment criteria includes:

  • Exceptionally talented founders with proven execution capabilities
  • Rapid revenue growth over 100% year on year and high growth targets for the future
  • Revenues over 5 million euros
  • Employs around 50 people
  • Significant market potential and scalable business model

Sustainability in operations

As part of the responsible investment policy EGP integrates the evaluation of Environmental, Social and Governance (ESG) issues into all stages of the investment process; from entry to exit. The goal is to guide our portfolio companies to integrate sustainability in their everyday business to increase long-term value. This is done by setting KPIs and monitoring progress together with the companies. In the long-term we also aim to ensure systematic carbon footprint evaluations in all our portfolio companies. EGP follows the UN PRI and Global Compact principles and Evli’s own guidelines on sustainable investing.

Investment Portfolio

To date EGP portfolio includes four direct equity investments and four fund-of-fund investments. Our ambition is to make 8-10 direct investments from the first fund. The current portfolio includes Finnish NLP-based search engine Klevu Oy, Swedish podcast platform Acast AB, German micro-mobility company Tier Mobility GmbH and as the newest addition to our portfolio Refurbed GmbH, the Austrian marketplace for refurbished electronics. For more information on the portfolio visit egp.fi.

Growth Partners

Our team consists of the leading entrepreneurs and investors of Finland. Our Growth Partners work both as investors in the fund and active advisors to our portfolio companies, providing their extensive networks and hands-on support through board work. EGP is further supported by the whole Evli organization.


Riku Asikainen,
Founding Parter

  • Experienced serial entrepreneur and angel investor
  • Founder, director and investor in almost 50 companies; of which more than 10 succesfully acquired
  • EBAN, European Business Angel of the Year 2012, silver prize
  • EBAN Vice President of the Board; FiBAN Co-Founder; Startup Sauna Accelerator Head Coach; Slush Co-Founder

Mikael Hed

  • One of the most successful entrepreneurs of Finland. As CEO, he was growing Rovio Ltd with its Angry Birds brand to one of the world’s leading entertainment companies.
  • Since Rovio’s IPO Mikael has been an international growth company investor.
  • EY Entrepreneur of the Year 2011.

Mikko Kuitunen

  • Serial entrepreneur and Founder of Vincit, a listed software company that has been nominated the Company of the Year and Europe’s Greatest Place to Work.
  • Part of several startup success stories, such as Framery, Yepzon, GreenGrass and Offistore.

Kim Väisänen

  • Angel Investor and ex-CEO and Co-Founder of Blancco Ltd, which became the market leader of data erasure products in Europe, USA and Japan.
  • Managed Blancco for 15 years before its successful exit to a UK based listed company.
  • Multiple awards as an entrepreneur and investor, such as EY Entrepreneur of the Year 2012.

Ari Korhonen

  • Experienced angel investor and entrepreneur. Past 11 years as angel investor, having invested in companies such as Small Giant Games, MariaDB and DealDash.
  • Led Komartek into international success and a successful exit to WM-Data (currently CGI).
  • Awarded multiple awards from investor career

Portfolio Companies


Advanced NLP-based search engine for e-commerce. Founded in 2013 Helsinki.


Fastest growing micro-mobility company. Founded in 2018 Berlin.      


World's leading podcast platform. Founded in 2014 Stockholm.


European marketplace for refurbished electronics. Founded in 2017 Vienna.


Previous experience



Are you an investor interested in our fund or a founder with an exciting company that we could support? Get in touch!