Qualitas Funds I – Exit of Kiona

Funds of Funds Experts
Lower Mid-Market Experts

We are pleased to announce the successful sale of Kiona, a company from the portfolio of Qualitas Funds I. The sale was led by one of our Nordic managers and the transaction resulted in a gross multiple of 1.9x on invested capital for Qualitas Funds I investors.

Kiona Group is a leading European SaaS provider in the PropTech (Property and Technology) sector. The company specializes in digitalizing both new and existing buildings, including their heating, cooling, ventilation, and refrigeration systems, to help customers achieve their financial and sustainability objectives. Their offerings include the AI Engine Edge, which optimizes indoor climate and reduces energy consumption.

During the holding period, the manager effectively implemented a value creation plan for Kiona. This included transitioning to a SaaS model, enhancing the product-market fit, and integrating advanced AI technology into a single platform. Moreover, they achieved favorable outcomes through successful M&A transactions, strategically merging different companies to harness synergies that boosted Kiona’s competitive advantage.

This exit showcases the remarkable rebound of the original investment, highlighting the managers’ resilience in their investment strategy and the ability to generate strong returns from impacted assets, even in turbulent financial environments.