Munich-based venture capital firm Picus Capital has secured $176 million in a preferred equity financing transaction from global private markets manager Carlyle AlpInvest. This strategic capital infusion is designed to bolster the firm's capacity to support its existing portfolio of nearly 200 companies and aggressively pursue new high-growth technology investments. The partnership marks a pivotal moment for the firm, reinforcing its position as a leading early-stage investor and providing substantial resources for its next chapter of growth.
A Strategic Partnership for Growth
The new funding provides Picus Capital with flexible financing to enhance its long-term, multi-stage investment strategy, which supports founders from the pre-seed stage through to IPO and beyond. This capital will be instrumental in backing its current portfolio, which includes unicorns such as Personio and Enpal, as they continue to scale their operations globally. Robin Godenrath, Managing Partner at Picus, stated that the partnership underscores the portfolio's strength and positions the firm to accelerate growth across its entire investment platform.
Bolstering a High-Performing Portfolio
Since its inception in 2015, Picus Capital has evolved from a privately financed firm into a global venture capital platform with a formidable and proven track record. The firm has consistently delivered an impressive annual internal rate of return exceeding 40 percent by focusing on key technology sectors poised for disruption. Its investment areas include enterprise infrastructure, generative AI, fintech, and energy, demonstrating a broad yet strategic approach to identifying and nurturing future market leaders.
A Vote of Confidence from a Global Investor
The partnership is a strong endorsement from Carlyle AlpInvest, a leading global private equity investor with nearly $102 billion in assets under management and a history of backing top-tier managers. Michael Hacker, Global Head of Portfolio Finance at Carlyle AlpInvest, highlighted Picus's highly diversified portfolio of category-defining companies and its sustained performance as key attractions. This investment underscores Carlyle AlpInvest's commitment to providing flexible, strategic capital to leading platforms that demonstrate a clear strategy for continued success and market leadership.
Building on Recent Momentum
This $176 million transaction follows a period of significant momentum for the Munich-based venture capital firm, further solidifying its institutional standing. Earlier this year, Picus Capital announced the final closing of its oversubscribed Picus Venture Fund II at its $293.3 million hard cap, more than doubling the size of its predecessor fund. This continued success in fundraising demonstrates strong and growing market confidence in the firm's differentiated investment approach and its ability to scale effectively on a global stage.
The Path Forward
With this new capital, Picus Capital is well-equipped to expand its investment activities and deepen its engagement with entrepreneurs reimagining major industries. The firm plans to leverage the funds to not only support existing companies but also to advance its mission of investing in new innovation leaders across all stages. Raphael Mukomilow, Partner at Picus, emphasized that this transaction marks the beginning of a meaningful, long-term partnership that will help institutionalize the firm's differentiated approach.
This landmark financing from Carlyle AlpInvest marks a transformational milestone for Picus Capital, significantly strengthening its ability to scale its proven investment strategy. The partnership not only provides substantial capital but also serves as a powerful validation of the firm's performance and its long-term vision for backing category-defining technology companies. As Picus enters its next phase of growth, this collaboration will be instrumental in expanding its investment activities and reinforcing its global presence in the venture capital ecosystem.