
Pasi Lehtinen
Investment Director
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- Full Name
- Pasi Lehtinen
- Title
- Chairman of the Board & Co-founder (previously Managing Director / CEO)
- Firm
- Korona Invest Oy
- Firm Type
- Private equity (growth & buyout) — a registered Alternative Investment Fund Manager (AIFM). *Note: the source stub listed "Angel Investors," but Korona Invest is a mid-market PE firm, not an angel investor.*
- Investment Stage
- Growth-stage and buyout of established, profitable SMEs — not seed. *Note: the source stub listed "Seed Round," which does not match the firm's actual strategy.*
- Check Size
- Not publicly disclosed; the firm deploys from funds totaling ~€235M across four vehicles (Fund IV: €80M).
- Target Company Profile
- Growth-oriented Finnish small and mid-sized companies, typically with roughly €2–50M in annual revenue, taken as minority or majority holdings.
- Sector Focus
- Sector-agnostic; historically heavy in health/care services, technical and industrial services, software/IT, and consumer/circular-economy businesses.
- Geographic Focus
- Finland (domestic companies only).
- Location
- Helsinki, Finland (Korkeavuorenkatu 30) / Greater Helsinki (Uusimaa).
Background
Pasi Lehtinen co-founded Korona Invest's management company in 2006 together with Vesa Lehtomäki, and has spent the last ~15+ years as a lead investor and operator building the firm into one of the most successful private equity houses of its size in Finland. For much of that period he served as Managing Director / CEO (a role he held around 2020–2021), acting as the public face of the firm during fundraising and portfolio communications, and personally chairing or sitting on the boards of numerous portfolio companies.
Korona Invest, which Lehtinen helped build, invests in growth-oriented Finnish SMEs across essentially any industry, supporting them through organic growth, add-on acquisitions, and international expansion. Over its first 15 years the firm's funds invested in 31+ companies (now cited as "41 growth stories") that on average more than tripled in size, made 120+ bolt-on acquisitions, and added 4,000+ new employees. The firm is employee-owned and backed by institutional investors including Tesi, Finnish foundations, insurance companies, and private investors.
Today Lehtinen is listed as Chairman of the Board and handles media relations for Korona Invest, having transitioned day-to-day managing-director duties to Juho Mäkiaho while the deal team (Investment Directors Matti Kangas, Jaakko Isotalo, and Niklas Wickström) runs execution. Across his career he has managed and governed portfolio companies spanning healthcare, veterinary services, industrial and technical services, software, and childcare.
Investment Thesis & Focus
- Invests in established, growth-capable Finnish SMEs, roughly €2–50M revenue — not startups or seed-stage companies.
- Sector-agnostic ("no industry restrictions"); the portfolio skews toward services (health/care, technical services), software/IT, and consumer/circular-economy businesses.
- Uses both minority and majority stakes to fund expansion: "We will continue to use minority and majority holdings to support the growth." — Pasi Lehtinen
- Value-creation playbook centers on organic growth + buy-and-build acquisitions + internationalization, with active board participation and a network of ~10 operating advisors (HR, restructuring, sales, international business, AI).
- Long-term, relationship-driven capital: "We're very grateful for the trust our long-term investors have shown by participating in our fourth fund."
Notable Investments
- Omaeläinklinikka — veterinary clinic chain built to national scale; entered 2016, exited 2021.
- Pilke Päiväkodit — private early-childhood-education / daycare operator; entered 2012, exited 2020.
- Roima Intelligence — manufacturing/IT software; entered 2014, exited 2018.
- Vaihtolava.com (Vaihtolavacom) — circular-economy / waste-container services; entered 2017, exited 2020.
- Wunder — IT services; entered 2017, exited 2025.
- Leanware — software/consultancy; entered 2019, exited 2024.
- Enmac — engineering services; entered 2020, exited 2024.
- Suomen Radiologikeskus — healthcare/diagnostics; entered 2022, exited 2024.
- Innoflame Oy — online-shop/e-commerce builder; majority investment.
- Med Group / Validia / Vetrea / Respecta / Evantia / MILA pro — a series of health, care, and interpretation-services businesses exited between 2013–2017.
- Current holdings include Fredman, Herkkumaa, JIS-Automation, Bondata Group, Innoflame, OVL, Epic Autokoulu, CoolFellas, Asuntopehtoori, SC Software, and the Rastec/Niparmi/Sareskoski group.
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