Atempo Growth announced the first closing of its second fund, Atempo Growth II SCA, SICAV-RAIF, which will finance high-growth tech companies in Europe. In this initial stage, the fund has raised €300 million to increase the platform’s assets under management to over €700 million. The target for the final close of the second fund—earmarked for Q1 of 2026—is between €400 and 500 million.
Banco Santander (an Atempo Growth strategic partner with a 30% stake in the platform) has pledged up to €160 million for the final close of the manager’s second fund. And the fund received further investment from the European Investment Fund (EIF) and British Business Investments (BBI).
Atempo Growth is led by co-founders Luca Colciago, Jack Diamond, and Matteo Avramov Giulivi. They bring with them a wealth of experience and a proven track record, having financed over 100 European tech companies over the past two decades. The Senior Team grew in 2024 with the addition of Tina Page as COO.
Atempo Growth’s first fund closed in 2022 with €272 million, receiving contributions from investors like the European Investment Bank (EIB) and BBI, and was fully invested within 3 years. And in recent years, startups’ financing through venture debt has grown at a rate of knots as an alternative to traditional venture capital in a complex landscape for securing rounds of capital. This funding type targets companies classified as early-stage or growth that already have a venture capital fund backing.
These initiatives fall under the strategy of the Investment Platforms Unit (IPU) and Santander Alternative Investments, both of which belong to the Group’s Wealth Management and Insurance division. And they specialize in investing in alternative growth segments to the bank’s traditional activity, such as direct lending (Tresmares, LB Oprent), private equity (Fremman Capital), venture debt (Atempo), special situations lending (Deva Capital), and venture capital (Seaya, Mouro Capital).
