Press release, 14 May 2025 at 10:00 a.m. EEST
Mandatum Asset Management’s Growth Equity II fund has invested in Takomo, a Finnish golf equipment manufacturer that has experienced substantial growth in recent years. The EUR 20 million funding round will enhance Takomo’s international expansion and help secure its future growth. In addition to Mandatum, Swedish Rite Ventures also participated in the funding round.
Takomo’s business model is to provide high-quality golf clubs and other golf equipment directly to consumers through its online store without intermediaries. The company operates on a global market, with the strongest growth currently coming from the United States and Australia. In just two years, the company’s turnover has grown tenfold, increasing from less than EUR 3 million in 2022 to just under EUR 30 million in 2024. A similar development is expected to continue in the future.
The growth of Takomo has been profitable since it was founded in 2021. The company has not raised significant funds prior to this investment. With this funding round, Takomo will, among other things, develop its logistics chain and increase its marketing efforts to attract a broader customer base, while simultaneously staying true to its promise of providing high-quality golf clubs at an affordable price.
“Takomo has achieved exceptionally strong growth in a short period of time. The company’s modern and efficient go-to-market model combined with deep understanding of consumer needs clearly differentiate it from traditional players in the industry. Takomo’s ability to combine high-quality products, a distinct brand, data-driven management and international scalability is exceptional. We see significant potential in the company and look forward to the collaboration,” says Mandatum Asset Management’s Head of Private Equity Alexander Antas.
Golf is a sport with over 106* million enthusiasts worldwide, and its popularity has further increased in the years following the COVID-19 pandemic. Direct-to-consumer equipment sales through online channels is one of the fastest growing segments in the industry and Takomo has positioned itself at the forefront of this transformation.
Sebastian Haapahovi, Takomo’s founder and CEO, highlights the significance of the investment: “Takomo has grown rapidly in recent years, and we have ambitious goals for the future. We aim to be recognised globally among the top industry names, as there is clear demand for a new kind of agile player. I look forward to collaborating with Mandatum’s team – I am confident that their support will be instrumental in accelerating our growth.”
The MAM Growth Equity strategy focuses on the scale-up phase of Finnish and Nordic growth companies. It takes part in exceptional growth stories by being an active owner and providing expertise, networks and flexible growth capital for companies with a proven business model and ambitious management teams.
The Growth Equity II fund focuses on actively developing the companies in its portfolio to enable their growth and internalisation. The strategy provides companies and owners with a flexible minority solution by offering companies growth capital and owners liquidity. Takomo is the fourth investment made by the fund. The Mandatum Growth Equity team has been part of developing companies such as Integrata, Nosto, Cadmatic, Oddlygood and HappySignals.
*Source: Golf monthly, NGF, R&A.
Additional information:
Mandatum
Alexander Antas
Head of Private Equity, Mandatum Asset Management
Tel. +358 40 533 0986
alexander.antas(a)mandatumam.com
Niina Riihelä
SVP, Communications, brand and sustainability, Mandatum plc
Tel. +358 40 728 1548
niina.riihela(a)mandatum.fi
Takomo
Sebastian Haapahovi
CEO, Takomo
Tel. +358 41 517 1897
sebastian(a)takomogolf.com
Mandatum in brief
Mandatum is a major financial services provider that combines expertise in wealth management and life insurance. Mandatum offers clients a wide array of services covering asset and wealth management, savings and investment, compensation and rewards as well as pension plans and personal risk insurance. Mandatum offers services to corporate, retail, institutional and wealth management clients. At the centre of Mandatum's success are highly skilled personnel, a strong brand as well as a proven investment track record.
mandatum.fi/en/group
This marketing communication is related to Mandatum Asset Management Ltd's ("MAM") MAM Growth Equity II Fund (the “Fund”). This document is prepared by MAM, portfolio manager of the Fund. The Fund is managed by Mandatum AM AIFM Ltd (Bulevardi 56, 00100 Helsinki, P.O Box 1221, 00120 Helsinki, Finland).  The Fund is available only to professional clients.
This marketing communication does not constitute investment advice. Please refer to official fund documents before making any final investment decision.
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