Claret Capital Partners closes €575M fund to back European growth companies

Claret Capital Partners has closed its fourth European Growth Capital Fund at €575 million, surpassing its €500 million target. Alongside affiliated discretionary mandates, the fund will provide growth debt financing to technology, life sciences and impact-focused companies across Europe.

The fund has already deployed 32% of its capital, investing in more than 27 companies, including B2B buy-now-pay-later platform Billie, clinical-stage pharmaceutical company Cinclus Pharma, commercial real estate software provider PRODA, biotech firm Inventiva and sales intelligence platform Surfe.

Claret offers flexible, lower-dilution financing to companies looking to fund international expansion, acquisitions and product development. The fund's final close secured commitments from institutional investors, including pension funds, insurers, family offices and public institutions, as well as private wealth investors through an ELTIF structure.

Claret will also leverage discretionary co-investment partnerships to support larger transactions and provide additional capital to growth-stage companies across Europe.

David Bateman, Managing Partner at Claret Capital Partners, said the fund’s final close exceeded the firm’s expectations and reflected continued support from its limited partners and co-investors. He added:

With a growing pipeline of high-quality opportunities, the team is actively deploying capital and continuing to look for great entrepreneurs building the next generation of European champions.

The latest fund follows Claret’s previous €297 million vehicle, which reached its final close in 2022. Since then, the firm’s portfolio has recorded several exits, including Cytora’s acquisition by Applied Systems, Endomag’s acquisition by Hologic, Logpoint’s acquisition by Summa Equity, Lyst’s acquisition by ZOZO and Tiqets’ acquisition by Expedia, alongside Abivax’s IPO on the Nasdaq.

Johan Kampe, Managing Partner at Claret Capital Partners, said demand for flexible, non-dilutive capital is likely to grow as equity markets remain selective and founders seek ways to scale while limiting dilution:

It continues to be a true privilege to support the founders and entrepreneurs who are driving real innovation across Europe at a monumental time for both business and society. As equity markets remain more selective and founders look for ways to grow without unnecessary dilution, we expect demand for flexible, non-dilutive capital to keep accelerating - and Fund IV positions us to meet that demand at scale.

Claret says it has deployed more than €1.5 billion across over 210 companies through successive fund vintages, including recycled capital. Following the latest fund close, the firm plans to strengthen its pan-European presence, with team members now based in Paris and a planned expansion into Berlin.