The past year has been memorable for IK on several levels. We closed two funds, our first our first small cap fund, IK Small Cap I, and our eighth mid cap fund, IK VIII. In the process, we raised more than €2bn. We also completed several exciting new investments, including six for the small cap fund and our first transaction for the IK VIII Fund.
Heritage has always played an important role in the IK culture. Our Nordic roots, our focuson small and medium-sized enterprises (SMEs) and our belief in genuine value creation have been central to the IK philosophy since we were founded. Alongside heritage, however, we are constantly striving to expand and develop IK for the benefit of all our stakeholders.
The past few months have been extremely active for IK. We have taken advantage of the receptive exit environment to make four rewarding divestments but we have also made three exciting investments, each in sectors where we have many years’ experience and knowledge.
These are exciting times at IK. Activity levels are high, we have a strong pipeline of transactions and there is a feeling of optimism across our business. In recent months, we have made several great investments and crystallised two rewarding exits, while our portfolio companies continue to make good progress.