Nordic private equity group Axcel has closed its seventh fund, Axcel VII, at an oversubscribed hard cap of EUR 1.3 billion ($1.42bn), exceeding its target of EUR 1 billion.

The Danish firm said in a press release that the latest fund reflects a 60% increase on its predecessor, Axcel VI, which closed at a hard cap of EUR 807 million in 2021.

Axcel builds on i