Vitruvian Partners closes second fund on £1bn


pounds3_lrgEuropean private equity firm Vitruvian Partners has closed its second fund on its £1bn hard cap.

The new vehicle, which  was launched with a £800m target earlier this year, follows Vetruvian’s 2008-vintage debut fund, which raised €925m.

Vitruvian Investment Partnership II received substantial commitments from both existing and new LPs including corporate and state pension funds, sovereign wealth funds, fund of funds, endowments and foundations from Europe, the US, the Middle East and Australia.

The firm said it will continue to invest between £25m and £125m in companies with enterprise values of £40m to £250m, focusing on the business services, information technology, media, telecoms, financial services and healthcare sectors.

Vitruvian managing partner Mike Risman said, “We would like to thank the entrepreneurs and management teams with whom we have partnered in our first fund and whose strong performance has made this fundraising possible.

“We would also like to express our gratitude to our investors for backing us at inception and their continued support.”

In June this year Vitruvian acquired EnServe Group’s energy unit, Inenco Group.

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