CapMan Growth Invests in CSE Simulation Active Gaming Firm

CapMan Growth has signed an agreement to invest in CSE Simulation, a Finnish active gaming company that develops interactive, movement-based digital games designed to encourage physical activity. The investment will support CSE Simulation’s ambition to accelerate its international growth and reinforce its status as a global pioneer in active gaming.

CSE Simulation creates digital games that combine physical movement with engaging gameplay, making exercise enjoyable and accessible for all ages. Its products are deployed across various venues, including entertainment and hospitality locations, schools, and sports and recreation facilities. The company generates the majority of its revenue from international markets, reflecting strong global demand for solutions that integrate meaningful physical activity with high-quality digital experiences.

CapMan, a leading Nordic private equity investor with €7.2 billion in assets under management, will lead the investment. The fund focuses on value creation through active portfolio management and has a strong track record in supporting growth-stage companies across the Nordics.

“CSE Simulation is an exciting combination of positive impact, strong product innovation and impressive international traction,” says an Investment Director at CapMan Growth. “Their solutions lower the barrier to movement by making physical activity intuitive and fun. We especially appreciate the company’s role in encouraging physical activity among children and youth, which is highly important in society. CSE Simulation is exceptionally well positioned to capture the significant growth potential in the global active gaming market, and we are pleased to support the team as they scale their international operations.”

CSE Simulation is led by founders Veli-Matti Nurkkala (CEO), along with the CFO and CRO. The founding team has been instrumental in developing the company’s innovative product portfolio and shaping the active gaming market globally. Nurkkala commented, “We are very pleased to have CapMan Growth supporting our growth journey. Our views on future growth are strongly aligned, and we are committed to pursuing determined, long-term growth. Despite a challenging operating environment, our group’s revenue grew last year. The growth we achieved demonstrates the strength and adaptability of our operations. Together with CapMan, we can bring the joy and experiences of physical activity to an even wider audience worldwide.”

Founded in Finland, CSE Simulation employs 30 people and operates primarily in North America and Europe. Its products are used in 76 countries, and in 2025 alone, the company recorded over 100 million gameplay sessions. The company’s mission is to make physical activity enjoyable and accessible through fun, high-quality digital experiences.

The investment will enable CSE Simulation to expand its international footprint further, particularly in North America, Europe, and the Asia-Pacific region. CapMan’s growth capital and expertise are expected to accelerate product development, enhance sales and marketing capabilities, and improve operational efficiency. The partnership also aims to leverage cross-selling opportunities across entertainment, hospitality, education, and sports venues.

The active gaming market is growing as consumers and institutions seek engaging ways to promote physical activity and wellness through technology. CSE Simulation’s innovative motion-based gaming solutions position it well to capitalize on this trend. However, the company faces challenges including managing international expansion complexities, maintaining innovation pace, and aligning growth strategies between founders and new investors.

Financial terms of the investment were not disclosed. CapMan Growth’s involvement is expected to strengthen CSE Simulation’s competitive position by providing resources to scale operations and accelerate innovation. The deal reflects CapMan’s broader strategy of investing in technology-driven companies with positive societal impact.

Looking ahead, CSE Simulation plans to integrate CapMan’s support to enhance its organizational structure and governance while continuing to develop new interactive gaming solutions. The company aims to broaden its product applications across multiple venue types and demographics, capturing growing demand for health-oriented digital entertainment worldwide.