Claret Capital Partners has completed the second close of its fourth growth debt fund, raising more than €350 million and pushing its total assets under management past $1 billion. This milestone reinforces the firm’s leadership in supplying growth financing to European companies in technology, life sciences, and climate tech, following more than €1.2 billion deployed across 190 businesses since inception.
Since launching Fund IV in early 2025, Claret has already committed capital to a dozen new portfolio companies. These include fast-scaling startups in digital finance, healthtech, and embedded software, reflecting the team’s strong deal sourcing and the surging demand for non-dilutive growth debt solutions across Europe’s innovation economy.
The second close attracted a diverse group of investors, from established institutions to private wealth clients. Leading contributors include Spain’s Banca March, a central Canadian pension fund, a prominent German foundation, the British Business Bank, the European Investment Fund under the InvestEU programme, Ireland’s Strategic Investment Fund, Germany’s public development bank KfW Capital, and one of Europe’s largest venture fund-of-funds platforms. An ELTIF vehicle administered by IQ-EQ also enabled private wealth investors to participate alongside institutional partners.
In parallel with these commitments, several Fund IV limited partners have agreed to discretionary co-investment partnerships totaling more than €115 million. This additional firepower will allow Claret to support larger transactions and back its most ambitious borrowers through customized capital packages.
With a robust pipeline and sustained investor interest, Claret’s deployment team is actively funding new growth lending opportunities across Europe. The firm expects to reach a final close in 2026, further expanding its capacity to deliver flexible debt financing that fuels innovation without forcing equity dilution.
Claret Capital was founded in 2013 and has since become Europe’s largest independent growth debt manager. Its leadership team brings over 25 years of experience in technology finance, designing loan structures that help entrepreneurs and private equity sponsors scale high-growth companies while preserving ownership.
KEY QUOTES:
“We would like to extend our sincere thanks to the LPs for their continued trust in our investment strategy, and to the outstanding companies and co-investors who choose to partner with us – their collaboration is central to our mission and long-term success. It’s a privilege to partner with the founders and management teams who are driving growth and innovation across Europe.”
David Bateman, Managing Partner at Claret Capital Partners
“We are delighted with the second close having already surpassed the size of Fund III. With a strong and growing pipeline of high-quality opportunities, we’re seeing sustained demand for our capital from Europe’s leading entrepreneurs and top-tier equity investors. The team are actively deploying capital and always looking for great entrepreneurs to back.”
Johan Kampe, Managing Partner at Claret Capital Partners
“We’re thrilled to support Claret Capital Partners in their latest fund launch. Our ongoing partnership with Claret underscores our commitment to providing top-tier fund administration services and supporting innovative investment strategies. We’ve been working hand in hand since 2020 and are proud to be part of this exciting new chapter in Claret’s growth journey.”
Riccardo Zorzetto, IQ-EQ Luxembourg’s Head of Client Relationship Management
“We are delighted to renew our long-term strategic partnership with Claret through the launch of an ELTIF vehicle, structured exclusively for Banca March and its clients, to channel our investment into Claret Fund IV. In line with our co-investment model, this initiative will enable Banca March – the Spanish bank with the highest CET1 solvency ratio and a leading specialist in wealth management – to invite its clients to invest alongside them in fast-growing European companies within the technology, life sciences, and climate tech sectors. This initiative reflects Claret’s and Banca March’s strong belief in the value-creation potential of private investments, reinforcing the sustainability, resilience, and sovereignty of the European economy.”
Ignacio Montero, Head of the Co-investment Unit at Banca March
