Springvest’s Junkkila says portfolio diversification is key in unlisted growth investing

• Springvest management highlighted the asymmetric payoff profile in growth investing, where a small number of winners can outweigh broad underperformance.
• Portfolio concentration was framed as a key risk driver in unlisted equities, with diversification described as the most effective risk-control tool.
• Guidance pointed to holding at least 12 unlisted companies, with a preference for more than 20, to reduce dependence on single outcomes.
• Management recommended limiting unlisted equity exposure to no more than one-fifth of net investable assets to manage liquidity risk.
• Selection focus centered on whether each company’s upside can cover expected failures, with follow-on capital reserved for later rounds.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Springvest Oyj published the original content used to generate this news brief on October 01, 2026, and is solely responsible for the information contained therein.