Claret Capital Partners has raised €575 million across its latest growth debt fundraising cycle, exceeding its original €500 million target and significantly increasing the capital available to back European growth companies.
The total comprises €440 million of commitments to Claret European Growth Capital Fund IV and €135 million of affiliated discretionary mandates.
The latest close brings Claret’s total capital raised since inception to €1.3 billion, supported by a global institutional investor base.
Claret said it has deployed more than €1.5 billion across more than 210 companies over successive fund vintages, reflecting capital recycled through its investment vehicles.
The firm’s investment strategy focuses on technology, life sciences and impact companies seeking growth capital without relying entirely on additional equity financing.
Fund IV is already 32% deployed across 27 companies, with Claret continuing to invest against what it described as a strong pipeline of prospective opportunities.
Companies backed through Fund IV include Billie, Cinclus Pharma, PRODA, Inventiva, SIS Medical, Surfe and VIOTAS.
Claret said growth debt can help companies finance initiatives such as international expansion, strategic acquisitions and product development while reducing the dilution associated with equity fundraising.
The fund attracted commitments from pension plans, insurance companies, family offices, public and institutional investors, along with private wealth investors through an ELTIF structure.
Claret also established discretionary co-investment partnerships designed to give the firm additional capacity for larger transactions.
The Fund IV close represents a significant increase from Claret’s previous vehicle.
Fund III closed at €297 million in 2022 and has since produced exits involving companies including Cytora, Endomag, Logpoint, Lyst and Tiqets, as well as the Nasdaq IPO of Abivax.
Claret plans to continue expanding its pan-European investment platform following the final close.
The firm is increasing its presence across key European innovation hubs, including adding team members in Paris and Berlin.
Management believes demand for growth debt will continue increasing as equity markets remain selective and companies seek alternative sources of capital that can support expansion without substantial ownership dilution.
KEY QUOTES:
“We are thrilled to announce the final closing of Fund IV which significantly surpassed our original expectations and would like to thank our LPs and co-investors for continuing to place their unwavering trust in our ability to find Europe’s leading founders. To have raised this amount not only validates our approach and track record but is also a massive vote of confidence for the European technology, life sciences and impact ecosystems. 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.”
David Bateman, Managing Partner at Claret Capital Partners
“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.”
Johan Kampe, Managing Partner at Claret Capital Partners
