Axcel’s Elevate Fund Expands Capital Access for Nordic Small and Mid-Sized Businesses

Two-Fund Investment Strategy: Complementing a EUR 1.3 billion Mid‑Market Platform

Nordic private equity firm Axcel has built a 30‑year track record investing across the region, underpinning its position as an active investor and trusted partner. It is currently deploying capital from two complementary funds. Its flagship mid‑market vehicle targets larger companies with enterprise values from around EUR 100 million and above, backed by a EUR 1.3 billion fund raised in 2024.​

With the launch of Elevate, Axcel is extending this platform into the lower mid‑market. The new small‑cap private equity fund focuses on businesses with enterprise values between €50–100 million, giving Axcel dedicated capital to create more tailored capital solutions for growing small and mid-sized businesses.

Opportunity for Small and Mid-sized Businesses in Technology, Business Services and Healthcare

Elevate primarily targets growing companies in Technology, Business Services and Healthcare - sectors where Axcel already has deep experience and sees strong demand.

For IMAP and its clients, Elevate is particularly relevant as it enhances the pool of sophisticated financial sponsors looking at  EUR 50–100 million deals across the Nordics, creating additional options for succession, growth and cross‑border expansion for small and medium‑sized businesses.​

Through relationships with leading sponsors like Axcel and other PE funds worldwide, IMAP clients benefit from broader access to high‑quality capital and strategic partners.