London-based Claret Capital Partners has successfully raised €575 million through Fund IV and an associated discretionary mandate. This amount exceeds the initial fundraising target of €500 million, marking the final close of its fourth debt financing growth fund.
Fund IV secured €440 million in investor commitments, with an additional €135 million coming through an affiliated discretionary mandate. The investment base includes pension funds, insurance companies, and family offices; private wealth investors also participated via the ELTIF structure.
This new round increases the total capital raised by Claret since its inception to €1.3 billion. Since 2013, the firm has invested over €1.5 billion and supported more than 210 companies in the technology, life sciences, and impact investing sectors.
Claret intends to deploy the Fund IV capital across European technology and life sciences ecosystems. This fund provides growth debt financing, which helps companies avoid equity dilution. The financing can support various stages of business expansion.
Typical loans range from €2 million to €100 million. Each opportunity undergoes individual assessment by Claret's investment specialists. Companies can use the capital for organic growth and acquisitions, as well as to support research, development, and capital expenditures. Other uses include working capital, marketing, and geographical expansion, as well as extending operational cash reserves.
Claret emphasized the flexibility of its growth capital approach, allowing founders to secure funding without immediate issuance of additional shares.
Managing Partner David Bateman noted that the fundraising reflects confidence in Europe's technology and life sciences sectors. He added that the firm is actively directing capital and seeking entrepreneurs who are creating European tech champions. Claret has already deployed 32% of Fund IV, supporting 27 companies in the target sectors. Portfolio companies include Billie, a B2B buy-now-pay-later platform, as well as Cinclus Pharma and the clinical-stage biotech company Inventiva.
The portfolio also includes PRODA, which develops software for commercial real estate, and Surfe, which provides sales business intelligence technology. Fund IV continues Claret's previous European initiatives; the third fund was previously closed in 2022 with total commitments of €297 million. The previous portfolio delivered several significant strategic exits, including Cytora, Endomag, Logpoint, Lyst, and Tiqets. Furthermore, Claret invested in Abivax before its successful listing on Nasdaq, strengthening the firm's position among European growth investors.
The fund close gives Claret a greater capacity to support European companies, as demand for flexible debt financing is expected to grow. Equity markets have remained more selective regarding growing companies, which may prompt founders to consider non-dilutive financing alternatives.
Managing Partner Johan Campe stated that the demand for flexible capital should accelerate and stressed the firm's commitment to supporting European entrepreneurs. Claret plans to expand its presence in major European innovation hubs. The firm has hired new staff in Paris and expects further expansion into Berlin, which will strengthen Claret's ability to work with local companies and support its pan-European investment strategy.
Fund IV provides the firm with additional resources for this expansion and allows it to finance more European enterprises in the technology and life sciences sectors. The firm anticipates that its investment activities will continue, as founders continue to seek flexible growth capital, and the latest fund provides significant capacity for this next phase.