Saaripartners
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Saari Partners is an investment firm that owns and develops portfolio companies, focusing on building AI-native operating models within service businesses.
Also known as Saari Partners · Saari Partners Oy
Investors · 1
Company profile
researched Aug 2026Saari Partners Oy is a Finnish private equity fund manager established in 2018 and headquartered in Helsinki (Puistokatu 11 Aa 2, 00150). The firm manages the Saari I Ky and Saari II Ky private equity funds, which make majority investments in Finnish small and mid-sized companies in the service sector. Its stated value-creation approach centres on digitalization, branding and marketing, and consolidation (buy-and-build), applied in close cooperation with the entrepreneurs and management teams of portfolio companies.
The firm is a member of the Finnish Venture Capital Association (Pääomasijoittajat ry) and states it operates under the supervision of the Finnish Financial Supervisory Authority as a registered/licensed AIFM within the scope of Finland's Act on Alternative Investment Fund Managers (162/2014). Saari Partners values portfolio companies according to the IPEV Guidelines and reports to investors quarterly following Invest Europe investor reporting guidelines. Under SFDR, Saari Fund I is classified as an Article 6 product and Saari Fund II as an Article 8 product. The management company is owned by its partners.
The team combines operational and transactional backgrounds: Founding Partner Ben Wrede (previously CEO of Atine Group, M&A and board work), Managing Partner Mia Sirkiä (brand, marketing and go-to-market; previously a partner at Hasan & Partners and ten years at Nokia), Partner Hanna Henell (finance and operations; previously led turnaround services and interim CFO engagements at KPMG, earlier Glaston and Delta Motor Group), Partner Joni Pitkäranta (M&A and strategy; previously partner at Oaklins Finland and at Deloitte), CDO Joonas Ojala (digitalization and technology; previously PwC advisory, M&A technology services), and Finance & Operations Manager Julius Virkama.
Founding story
The Saari I Ky fund was founded by Mikael Lönnroth (previously IT director at Turvatiimi and Oral Hammaslääkärit), Pirjo Kiiski (formerly CFO of Lumene), Mia Sirkiä (formerly a partner at advertising agency Hasan & Partners) and Ben Wrede (formerly CEO of Atine Group), who set out to provide Finnish SMEs with the growth resources they lacked, with Wrede stating the aim of being a capable partner helping such companies take their next step on the growth path.
Business model
Saari Partners acts as a general partner and fund manager, raising commitments from institutional and other limited partners into closed-end private equity funds (Saari I Ky, Saari II Ky) and deploying them into majority stakes in Finnish service-sector SMEs. Value is intended to be created through active ownership: hands-on support in branding, marketing, digitalization, finance and M&A, plus organic growth and consolidation of acquired platforms.
As a private equity fund manager, Saari Partners derives economics from managing the Saari funds on behalf of limited partners; the general partner holds a 2% share of the Saari I and II fund commitments.
Traction
Saari I Ky began operating on 31 January 2018 after a EUR 40 million first closing; Saari II was launched in December 2022 with a EUR 60 million target and EUR 45 million of first-closing commitments, and is reported closed as of June 2023. Investor composition across the two funds is 40% public sector, 30% fund of funds, 9% pension funds, 9% family offices, 7% insurance companies, 2% banks, 2% other and 2% Saari Partners as GP. A third-party institution profile lists Saari III Ky as a fund in market.
Latest developments
Saari Partners launched Saari II in December 2022 with EUR 45 million in first-closing commitments toward a EUR 60 million target, adding Hanna Henell as partner; the fund is reported as closed in June 2023. A third-party institution profile subsequently lists Saari III Ky among the firm's funds in market.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
A small Finnish private equity firm focused on the domestic service-sector SME segment; one third-party database reports approximately EUR 42 million of assets under management, 7 portfolio companies and 8 M&A transactions. Tesi described the firm at the time of Saari II as having made a good start with its first exit demonstrating results of its strategy.
The firm positions its partner group's hands-on operating experience in digitalization, brand building, marketing, finance and M&A as the differentiating factor versus purely financial ownership, combining majority control with close collaboration with founders and a consolidation-driven growth model in service industries.
Technology
Digitalization and technology capability is presented as a core part of the firm's operating toolkit rather than a product: a dedicated CDO leads digitalization and technology work with portfolio companies, covering IT and digital strategy, sourcing and system projects.
Go-to-market
The firm sources majority buyout and growth-capital transactions directly with entrepreneur-owners of Finnish SMEs, investing in a concentrated portfolio (4-6 platform companies per fund for Saari I) and expanding them through add-on acquisitions. Fundraising is conducted with cornerstone institutional investors such as Tesi, KRR and EIF, with legal advisory from Krogerus on the Saari II fund formation.
Finnish small and mid-sized service-sector companies with committed entrepreneurial owners, positive cash flow and an established position in their niche; for Saari I, the stated target profile included net sales of roughly EUR 4-7 million. On the capital-raising side, its counterparties are institutional investors including public-sector investors, funds of funds, pension and insurance companies, family offices and banks.
Geography
Headquartered in Helsinki, Finland, with a single office; investment activity focuses on Finnish companies, with a stated Nordic geographic preference.
History
Saari Partners was established in 2018 in Helsinki. Its first fund, Saari I Ky, held a first closing of EUR 40 million in commitments and commenced operations on 31 January 2018, with founding partners Mikael Lönnroth, Pirjo Kiiski, Mia Sirkiä and Ben Wrede; final fundraising was scheduled to close by 31 January 2019. In December 2022 the firm launched Saari II with a EUR 60 million target size and EUR 45 million in first-closing commitments, remaining open for new commitments through 2023; Hanna Henell joined from KPMG as a partner at the start of the second fund. A third-party profile records Saari II Ky as closed in June 2023 and lists a further vehicle, Saari III Ky, in market.
Risks & controversies
The firm noted that economic uncertainty at the time of the Saari II raise made the fundraising environment challenging, and it thanked new and existing investors for their commitments in that context.
Compiled by commissioned research from 7 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 · 4
launches, deals, and filingsA third-party institution profile lists Saari II Ky with a close date of June 2023, alongside Saari I Ky (close date January 2018) and Saari III Ky as a fund in market.
Saari Partners launched its second fund, Saari II, targeting EUR 60 million with EUR 45 million of commitments at first closing and remaining open for new commitments throughout 2023. Investors included Tesi, Kasvurahastojen Rahasto (KRR), the European Investment Fund, Nordea Life Assurance Finland Ltd, Työeläkevakuutusyhtiö Elo and Konstsamfundet. Krogerus advised on the fund formation.
Hanna Henell, previously at KPMG with over 15 years of experience in funding and financial operations, joined Saari Partners as a new partner at the start of the second fund.
Saari Partners Oy raised EUR 40 million in commitments to the Saari I Ky fund at first closing. The fund began operating on 31 January 2018 and planned to close its second and final fundraising round by 31 January 2019. Largest investors included Tesi, KRR III, Ilmarinen, Elo Mutual Pension Insurance Company, AI-Partners Oy and the Trade Union for the Public and Welfare Sectors JHL. The fund targets majority investments in Finnish service-sector SMEs with EUR 4-7 million in net sales, aiming for 4-6 platform companies grown organically and via consolidation.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 7
primary sources listed
- Saaripartnerssaaripartners.fi · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Saaripartners do?
- Finnish private equity manager taking majority stakes in small and mid-sized service-sector companies.
- Who are Saaripartners's investors?
- Saaripartners's investors include Tesi (Finnish Industry Investment Ltd).