At its core, Springvest is an owner of growth companies – and that’s good news for shareholders too

“This year we dropped our revenue and operating profit guidance. The reason is simple: Springvest’s value comes from the long-term development of the growth companies we hold in our portfolio,” says CFO Juuso Viitanen.

It’s fair to call Springvest an owner at heart. A steadily growing portfolio of growth companies sits right at the centre of the business, and it grows almost by design. Part of the fee Springvest earns on every funding round it arranges is paid out in the growth-stage company’s options, so each round it runs adds to the portfolio.

“If I had to name the single best thing about our business model, it’s that the portfolio grows on the strength of our core business,” Viitanen adds.

Spring 2026: a strong start to the year

Springvest published its half-year report earlier this week, and from a value-creation standpoint, it was a strong start to the year.

In the first half of 2026, Springvest added €5.1 million in new growth company holdings to its balance sheet. That’s already enough to hit the lower end of the full-year target of €5–7 million, with six months still to go.

That was driven by solid growth in the core business: €29.4 million in financing arranged (+21%), €7.2 million in cash and option fees (+17%), and a 15% operating margin.

The portfolio’s carrying value grew 13% over the period, reaching €28.2 million by the end of June. On top of that, Springvest holds a further €2.3 million in fee-based holdings that haven’t hit the balance sheet yet, pending registration.

The single biggest story for shareholder value this spring was Desentum, a clinical-stage biopharmaceutical company and already the largest holding in Springvest’s portfolio. This spring, Desentum significantly strengthened its funding position, raising €18 million from private investors and family businesses at what looks like an interesting turning point in its growth.

Springvest has now arranged six funding rounds for Desentum in total, taking its ownership stake past 7%. That stake will grow further once the option fees from this spring’s second round are registered.

Next up: more active ownership in selected companies

Growing the portfolio well comes down to one thing above all: picking high-quality unlisted tech companies and building financing packages that actually work for them.

Springvest CEO Aki Soudunsaari sees good conditions for that ahead. Interest in unlisted shares is on the rise, and it’s getting more visibility, including in the media.

Every well-built financing package adds another promising, high-quality holding to Springvest’s portfolio.

“We’re also stepping into a more active ownership role at selected portfolio companies. Getting a growth company to the point of real international success takes more than capital – it takes skilled owners and strong backing,” Soudunsaari says.

In practice, that means board work, services that help portfolio companies grow, and building international financing through private placements. At Desentum, for example, Springvest is helping source private placement investments – and proposed Aki Kamppinen, a former Springvest board member with a background in investment banking and M&A, to Desentum’s board. He was elected.

Still aiming to be a strong dividend payer

For investors, the real value in Springvest’s model is diversification: one share buys you a stake spread across more than 40 Finnish growth companies in different sectors. And Springvest wants to keep delivering on the income side too.

“Since 2021, we’ve delivered an average annual dividend yield of close to nine percent. Our goal going forward is unchanged: distribute at least 80% of both the profit for the year and any exit proceeds as dividends,” says Viitanen.

Read more about Springvest as an investment and check out our latest financial report!