Belgian private equity firm Vendis Capital has closed its debut fund on €111.5m, above its €100m target.
The firm reached a first close of €55m for the fund in October 2009, has already begun investing, with deals so far including Belgian fashion retail chain ZEB and Dutch optical retail chain Eyes & More.
The fund attracted 24 investor, and is to provide growth and buy-out capital of between €5m and €15ml to non-food retail and consumer businesses in Europe.
Vendis was created by the former retail management team of Mitiska, an investment company focused on the European retail sector, received cornerstone investments from the Colruyt family and the Colruyt group.
The fund will be managed by a partnership composed of Michiel Deturck, Luc Geuten, Cedric Olbrechts and Willem Van Aelten. They worked closely together during the last years at Mitiska.
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