Portfolio reports
Reports
Sustaining resilience in the face of global challenges
2025 was a year of strong operational progress and important realization milestones with three successful exits
Investment strategy
Private Equity
Main geographic focus
Northern Europe
Investment approach
Thematic
“A decade ago, we set out to prove that investing in solutions to global challenges could generate exceptional returns. In 2026, we mark ten years of doing exactly that — and we are only getting started.”
Solving global challenges
Investement focus
Companies that solve challenges represent resilience. They do well when markets are stable, but they often see increased demand for their services in times of crisis. We therefore focus on companies in growing, resilient industries supported by megatrends, while strategically leveraging our local angle and deep thematic expertise.
Download 2025 reportThe year in numbers
2.5m
total tonnes CO2e emitted
16/18
companies have reduced their emissions in 2025
3.4m
total tonnes CO2e avoided emissions
36%
board gender diversity
2.5k
customers served from critical industries
97%
Via Summa Compliance
2025 highlights in brief
Exits across Fund I and Fund II
During 2025, Fund I completed the successful exits of Documaster and Milarex and Fund II excited Infobric.
Fund I advanced toward full realization, marked by the exits of Documaster and Milarex. Documaster is a Norwegian digital records management company and Milarex is a leading international seafood company specializing in value-added salmon products. Documaster delivered revenue growth of more than 15x during our ownership, while the sale of Milarex further demonstrated our ability to scale resilient businesses within sustainable food systems.
Fund II also reached an important milestone with the full exit of Infobric, a provider of digital solutions for construction workforce management and compliance. Since the 2019 investment, Infobric has developed into a market-leading SaaS platform supporting safer, more transparent and resource efficient construction sites across the Nordics and the UK.
EU Taxonomy alignment in Fund I, III, and Circular
Taxonomy alignment across Fund I, Fund III and Summa Circular remains strong, primarily driven by NG Nordic. In 2025, 78% of NG Nordic’s total turnover was taxonomy-aligned, up one percentage point from 2024, contributing materially to alignment across all three funds. Alignment is mainly driven by hazardous waste treatment, recycling, demolition and waste collection activities. Further increases will depend on higher source segregation, continued transition to a low-carbon fleet and improved material recovery rates.
In Fund III, Bollegraaf and EA Technology also contribute meaningfully. Bollegraaf reports 87% turnover alignment, primarily driven by its role in advancing the transition to a circular economy. EA Technology reports 63% turnover, 42% CapEx and 61% OpEx alignment, largely under climate mitigation objectives. Oda reports limited alignment to date, with 1% of OpEx aligned. Alignment in Fund III is expected to strengthen further in 2026 as TBAuctions establishes its contribution, with alignment estimated at approximately 70%.
A year of recognition
2025 was also a year of recognition for the Summa platform, with several industry awards including, PE House of the Year (Mid-cap) and Impact Fund of the Year: Performance at the Real Deals Sustainable Investment Awards, as well as Best Nordic LBO Fund at the Private Equity Exchange Awards. We were also proud to receive the PRI Award for Innovation in Responsible Investment Strategy. This recognition underscores our systematic approach to investing and value creation, where we identify the most impactful system-level levers for portfolio companies and the sectors they operate in, and work actively to accelerate that transformation.
