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Kreos Capital growth debt fund seals €120m first close

25 Jan 2012

London-based growth debt provider Kreos Capital has announced the first closing of its new fund, Kreos Capital IV, with commitments of more than €120 million.

The firm is looking to reach a final close of up to €200m this year, enabling the team to invest more than €500m over the coming five years.

Kreos, which provides growth debt in Europe and Israel, has committed around $1.2bn of debt financing since 1998 in more than 280 deals across Europe, with an emphasis on the UK, the Nordics, France and Germany and Israel.

The firm assists is management teams and equity sponsors in fast growing companies with revenues of up to €150m across all stages, with a focus on the late and mid stages across a range of industries.

Mårten Vading, a co-founder and general partner at Kreos, said, “With Kreos Capital IV, we have diversified our investor base further, attracting top-tier global institutional capital from insurance companies, endowments, supranational funds, pension funds, funds-of-funds, and family offices.

“The common denominator for these investors is that they are attracted to Kreos’s team, which has been together for thirteen years providing very stable fund management as well as its consistent and compelling risk-adjusted and absolute returns,” he added.

Kreos currently supports a portfolio of late-stage, high-growth companies including Wonga, Openet, Primesense, Celltick and Heptagon. In the last 12 months, the firm has also achieved numerous exits through M&A transactions, including BioVex to Amgen, LoveFilm to Amazon, Ignis to Finisar, The Cloud to BSkyB and Newbay to RIM, as well as flotations such as Transmode, Horizon Pharmaceuticals and Sequans.

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