About us


Segulah is a Nordic private equity firm that for more than two decades has developed companies in close cooperation with skilled business leaders and industrial experts. Our goal is always that our companies should reach a position where they can prosper long after our three to eight years of ownership. We therefore invest in companies that we believe will be a part of the backbone of tomorrow’s society. Specifically, we focus our investments on companies with structural growth driven by the following three themes:

Modernisation & Automation of Industry

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Digital Business Efficiency

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Smart Urbanisation & Infrastructure Renewal

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To succeed we contribute capital, structure, experience and knowledge. We do this by focusing on three different sectors where we historically have been successful and have knowledge, experience, network and a strong track record:

B2B Services

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Light Manufacturing & Industrial Goods

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IT & Technology Services

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The capital in the Segulah funds are primarily raised from international pension funds, endowments and private family offices. In total Segulah has raised SEK 11 billion of capital to five funds. Today Segulah V is actively investing in the Nordic market.

    Fund Established Capital (MSEK) Status
    Segulah VI 2021 - Currently investing
    Segulah V 2016 2,400 Partly realized
    Segulah IV 2007 5,200 Partly realized
    Segulah III 2004 2,400 Realized
    Segulah II 2000 850 Realized
    Segulah I 1997 200 Realized

Segulah invests in companies which demonstrate:


With strong, defensible market position and distinct differentiation


to take the next step in their strategic, operational and professional development

Balanced risk profile

with a proven business model active in markets with structural growth

We create distinct and long-term value through:

Enabling a growth agenda

Working with management and board in setting the strategic direction, outlining key initiatives, continuously challenging and supporting management in realizing the full potential

Supporting M&A

Driving consolidation of fragmented markets through roll-up acquisitions, using M&A to realize specific strategic initiatives (such as Nordic and international expansion)


Leveraging the Segulah network of industrial advisors to support and appoint competent management and board, as well as professionalizing business processes

Our Operational Model Supports our Strategy

Strong network of industrial advisors

Built over 20 years and continuously nurtured and renewed

Proactive sourcing

Targeting specific sectors and themes with strong brand recognition giving access to proprietary deals

Rapid actions

Initiating M&A target scan and management assessment already in DD and driving related actions immediately post-acquisition

Active ownership and partnering with management

With extensive strategic support, targeted operational involvement and regular follow-ups with management (Business reviews)

Collaborative culture

Based on Nordic Values and highlighted as key strength by portfolio company CEO’s & board members

Functional toolbox

Ecosystem of specialists in e.g. revenue and cost optimization, digital opportunity assessment and ESG that can be applied as a “task force” in portfolio companies and new investments to initiate change