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Laxman Pai, Opalesque Asia: Swedish private equity firm EQT has raised a new €2.4bn ($2.43bn) fund, the largest first-time growth fund based in Europe.
Total commitments include funds raised from EQT employees and the EQT Network, which are not fee-generating, according to an announcement from the GP.
"Final close above EUR 2 billion target underlines the attractiveness of EQT Growth's thematic and active approach to investing in European growth-stage tech firms," said a press release from the Stockholm-based global investment organization.
Investment in European technology companies has grown vastly, increasing from around USD 20 billion in 2017 to over USD 100 billion in 2021, but European-based investors only made up 30 percent of investors in growth-stage rounds in 2021.
Targetting a ticket size between €50 million to €200 million, the fund will back strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors - enterprise, con/prosumer, health, and climate. It will explore opportunities at the point where companies have achieved product-market fit and are taking the next step to scale.
The Fund, which still has over two-thirds of capital available, has made seven investments to date and already includes some of Europe's most innovative companies in its portfolio, such as Epidemic Sound, Mambu, and Vinted.
"With a team based in five countries across Europe, EQT Growth's local presence ensures dire...................... To view our full article Click here
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