London–based independent growth debt fund manager Claret Capital has announced the second close of its Fund IV, securing over €350 million. The latest close helps Claret reach total Assets under Management (AuM) over $1 billion.
David Bateman, Managing Partner at Claret Capital Partners, comments, “We would like to extend our sincere thanks to the LPs for their continued trust in our investment strategy, and to the outstanding companies and co-investors who choose to partner with us – their collaboration is central to our mission and long-term success. It’s a privilege to partner with the founders and management teams who are driving growth and innovation across Europe.”
Strong investor backing
The Fund IV secured backing from a diverse group of institutional investors.
It includes Banca March, a Canadian pension fund, a major German foundation, the British Business Bank, European Investment Fund (EIF), ISIF, KfW Capital, and Wachstumsfonds Deutschland, one of Europe’s largest VC funds.
Notably, significant commitments from the second close have been secured through an ELTIF vehicle aimed at private wealth investors. IQ-EQ manages both the ELTIF and institutional vehicles, says the press release.
Additionally, some LPs from Fund IV have formed discretionary co-investment partnerships totalling over €115 million to support select companies.
This is in addition to the commitments already noted for Fund IV, providing Claret with more resources for opportunities.
Focus on high-growth firms
Since its launch in March 2025, 12 new companies have already joined the Fund IV portfolio, including Fund Recs, Mindler, Montonio, PRODA, SIDES, ValueBlue and Yseop.
The fund continues to back high-growth firms across technology, life sciences, and climate tech, three sectors where demand for growth debt financing continues to rise.
Fund IV is expected to close in 2026. Moreover, the European Investment Fund (EIF) has pledged support for the fund through the InvestEU programme, which provides financing to European SMEs in Claret’s main sectors.
Since it started, Claret has invested over €1.2 billion in more than 190 companies, helping founders and investors get flexible growth financing while reducing equity dilution.
Johan Kampe, Managing Partner at Claret Capital Partners, said, “We are delighted with the second close, having already surpassed the size of Fund III. With a strong and growing pipeline of high-quality opportunities, we’re seeing sustained demand for our capital from Europe’s leading entrepreneurs and top-tier equity investors. The team are actively deploying capital and always looking for great entrepreneurs to back.”
