Koronainvest
Founded 2006 · 20 employees on LinkedIn · 1 known investors
Korona Invest is a Finnish private equity firm founded in 2006 that focuses on buyout and growth investments in small and medium-sized Finnish companies. It makes both majority and minority investments and works as an active partner to entrepreneurs and growth companies.
Also known as Korona Invest · Korona Invest Oy · Terveysrahasto
Investors · 1
Company profile
researched Aug 2026Korona Invest Oy is a Helsinki-based Finnish private equity investment firm specialising in financing growth companies. It invests, irrespective of industry, in small and medium-sized enterprises that are seeking and capable of growth, using both minority and majority holdings and structuring each project with a corporate structure suited to the growth strategy. The firm positions itself as an active partner to entrepreneurs and growth companies, supporting organic growth, add-on acquisitions and internationalisation, and states that it aims to build value sustainably through its portfolio companies.
The firm operates through a series of limited partnership funds. Named vehicles include Terveysrahasto Oy (Fund I), Palvelurahasto I Ky (Fund II), Korona Fund III Ky (Fund III) and Korona Fund IV Ky (Fund IV); "Terveysrahasto" is also registered as an auxiliary trade name of Korona Invest Oy. As of 2021, the fourth fund reached its EUR 80 million target and the firm was actively seeking new investment targets for it. Reported and referenced portfolio and former portfolio companies span business services, circular economy, education, housing services, daycare, health and social services, industrial and intralogistics sectors, and include Innoflame, Wunder, MV-Jäähdytys, O.V. Lahtinen, Leanware, Enmac, Go On, Suomen Radiologikeskus, Epic Autokoulu, JIS-Automation/Herkkumaa, Asuntopehtoori Group and the Rastec & Niparmi & Sareskoski intralogistics group, with earlier exits including Pilke Päiväkodit, Omaeläinklinikka, Roima Intelligence and Vaihtolavacom.
Korona Invest Oy was founded in 2006, is domiciled in Helsinki with offices at Korkeavuorenkatu 30, and is classified under private equity investment / asset management activity. Its reported turnover was EUR 1.26 million in the financial year ending December 2025 with a result of EUR 72 thousand and 8 employees.
Founding story
The firm was established in 2006; Vesa Lehtomäki is identified as a founding partner of Korona Invest Oy and continues as a senior advisor with expertise in corporate restructuring, the circular economy, construction and the social and healthcare sectors.
Business model
Korona Invest raises and manages closed-end private equity funds that acquire majority or minority stakes in Finnish SMEs. It applies active ownership—supporting organic growth, buy-and-build acquisitions and internationalisation—and realises returns through exits, such as sales of portfolio companies to other private equity owners or to management and founders. The management company itself reported EUR 1.26 million of turnover for the 2025 financial year.
Fund management company revenues linked to managing private equity funds and investments in portfolio companies, with realisations achieved through exits from portfolio holdings.
Traction
Four funds raised since 2006 with total capital of over EUR 235 million, including an EUR 80 million fourth fund closed at target in 2021. By 2021 the funds had invested in 31 companies and the then-current portfolio held stakes in seven companies. Recent activity includes the February 2025 exit from Wunder, the April 2026 combination of Rastec, Niparmi and Sareskoski into an intralogistics group, an August 2026 add-on acquisition by Asuntopehtoori Group, and the August 2026 agreement to exit Innoflame to Sponsor Capital.
Latest developments
In August 2026 Korona Invest agreed to sell Innoflame to Sponsor Capital, ending five years as majority owner, subject to Finnish Competition and Consumer Authority approval. Also in August 2026, portfolio company Asuntopehtoori Group agreed to acquire the Vantaa-based property management firm Asunto Maisteri Oy in a share deal, and Ville Keskinen started as CEO of the Rastec & Niparmi & Sareskoski intralogistics group on 6 August 2026. The firm states it is actively seeking new investment targets for its fourth fund.
▸Full profile — market position, go-to-market, geography, history, risks & controversies
Market position
Described on the firm's own materials as one of the most successful Finnish private equity firms of its size; over 15 years to 2021 its funds had invested in 31 companies that on average more than tripled in size, with those companies completing more than 120 acquisitions and adding more than 4,000 employees. Total capital raised across its four funds is reported at over EUR 235 million.
Industry-agnostic mandate combined with willingness to take either majority or minority positions, an active hands-on ownership model built around buy-and-build acquisitions and internationalisation, and a network of sector advisors and co-investing former portfolio company managers.
Go-to-market
The firm sources investment opportunities directly for its funds, publicises transactions and exits through its own site, and works alongside portfolio company management. It draws on a seven-person investment team plus a network of named advisors covering areas such as HR and leadership development, sales and marketing, international business, ICT, construction and real estate, consumer business and FMCG supply chains, sustainability and finance, and artificial intelligence and data strategy.
Finnish small and medium-sized enterprises seeking growth, regardless of industry, together with their entrepreneurs and management teams; fund investors include institutional investors, investment companies operated by management and co-owners of previous portfolio companies, and long-term advisors.
Geography
Headquartered in Helsinki, Finland (Korkeavuorenkatu 30, 00130 Helsinki), with a focus on Finnish portfolio companies; portfolio operations extend beyond Finland in some cases, for example Wunder's staff in Finland, Estonia and Latvia.
History
Korona Invest Oy was founded in 2006 (business ID 2037737-4, registered in Helsinki; trade register entry 1 June 2006) with Vesa Lehtomäki among its founding partners, now a senior advisor. It has raised four successive funds: Terveysrahasto Oy (Fund I), Palvelurahasto I Ky (Fund II), Korona Fund III Ky (Fund III) and Korona Fund IV Ky (Fund IV). Fund IV reached its EUR 80 million target in October 2021. The firm took a majority stake in Innoflame in 2021, exited Wunder in February 2025, formed the Rastec & Niparmi & Sareskoski intralogistics group in spring 2026, and signed an agreement in August 2026 to sell Innoflame to Sponsor Capital.
Risks & controversies
The August 2026 Innoflame transaction is conditional on clearance by the Finnish Competition and Consumer Authority (KKV).
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 7
launches, deals, and filingsUnder a transaction signed on 26 August 2026, Sponsor Capital will become Innoflame's new majority shareholder, ending Korona Invest's majority ownership held since 2021. Completion requires approval from the Finnish Competition and Consumer Authority (KKV).
Asuntopehtoori Group agreed to acquire Vantaa-based property management firm Asunto Maisteri Oy in a share transaction, expanding its property management services in the Helsinki metropolitan area. Asunto Maisteri had 2025 revenue of about EUR 0.68 million and 5 employees; Asuntopehtoori group revenue in 2025 was about EUR 7 million.
The Korona Invest-owned intralogistics integrator Rastec & Niparmi & Sareskoski appointed Ville Keskinen as group CEO; he started on 6 August 2026.
Korona Invest combined three Finnish intralogistics companies — Rastec, Niparmi and Sareskoski — into a new intralogistics integrator group in spring 2026.
Korona Fund III Ky divested its stake in the digital services technology company Wunder, which transferred to the operating management and original founding member Vesa Palmu. Wunder had revenue of EUR 9.4 million and 96 employees in Finland, Estonia and Latvia.
Korona Invest announced it had reached the EUR 80 million target for its fourth fund, which continues its strategy of backing SME growth through organic growth, acquisitions and internationalisation. Investors include institutional investors, investment companies operated by management and co-owners of previous portfolio companies, and long-term advisors.
Korona Invest made a majority investment in online shop maker Innoflame Oy and remained majority owner from 2021.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Koronainvestkoronainvest.fi · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Koronainvest do?
- Finnish private equity firm making buyout and growth investments in small and mid-sized Finnish companies.
- Who are Koronainvest's investors?
- Koronainvest's investors include Tesi (Finnish Industry Investment Ltd).