Claret Capital Partners has completed the final close of its fourth European Growth Capital Fund, raising €575 million across Fund IV and affiliated discretionary mandates, exceeding its original €500 million target and significantly increasing the scale of its European growth debt strategy. The total comprises €440 million in Fund IV commitments and €135 million in related discretionary mandates, bringing Claret’s cumulative capital raised since inception to approximately €1.3 billion. The firm focuses on providing flexible growth financing to technology, life sciences, and impact companies across Europe, offering founders an alternative to raising additional equity.
Fund IV Deployment
Claret has already deployed approximately 32% of Fund IV across 27 companies, reflecting an active investment pace and a pipeline of businesses seeking capital for expansion, acquisitions, and product development. Portfolio companies backed through the fund include B2B payments platform Billie, pharmaceutical businesses Cinclus Pharma and Inventiva, commercial real estate software company PRODA, medtech company SIS Medical, sales intelligence platform Surfe, and smart grid technology provider VIOTAS. Claret said the fund is designed to support growth-stage businesses seeking additional financing while limiting shareholder dilution and maintaining greater flexibility over their capital structures.
Strong Institutional Backing
Fund IV attracted commitments from pension plans, insurance companies, family offices, public institutions, and other institutional investors, alongside private wealth capital accessed through an ELTIF structure. Claret has also established discretionary co-investment partnerships that provide additional financing capacity for larger transactions and allow the manager to support companies requiring more substantial amounts of growth capital. The fundraising reflects continued institutional interest in private credit and growth lending as European companies navigate a financing environment in which equity investors have become more selective.
Building on Previous Funds
The latest fundraising follows Claret European Growth Capital Fund III, which reached a €297 million final close in 2022 and subsequently backed companies that completed several notable acquisitions and public market transactions. Previous portfolio companies include Cytora, acquired by Applied Systems, Endomag, acquired by Hologic, Logpoint, acquired by Summa Equity, Lyst, acquired by ZOZO, and Tiqets, acquired by Expedia, while biotechnology company Abivax completed a Nasdaq IPO. Across its successive funds, Claret says it has deployed more than €1.5 billion into over 210 companies, with the deployment figure reflecting capital recycled across multiple fund vintages.
European Expansion
Following the Fund IV close, Claret plans to expand its pan-European platform and strengthen its presence in major innovation hubs, including through new team members based in Paris and a planned presence in Berlin. The firm expects demand for growth debt to continue increasing as founders look for financing structures that can support international expansion, strategic acquisitions, product investment, and other growth initiatives without requiring substantial additional equity issuance. Managing Partners David Bateman and Johan Kampe said the fundraising demonstrates confidence from investors in both Claret’s strategy and the broader European technology, life sciences, and impact ecosystems.
The €575 million fundraising gives Claret Capital Partners substantially more capital to deploy into European growth companies and reinforces its position as a major independent provider of growth debt across the continent. With nearly one-third of Fund IV already invested and additional co-investment capacity available, the firm is positioned to pursue larger opportunities while expanding its geographic reach and institutional investor base. The final close also highlights the growing role of private growth lending as European companies seek flexible financing alternatives that can support continued expansion while reducing dependence on dilutive equity capital.