Fortino holds €125m first close for second fund

The vehicle has a target of €200m and has already surpassed the €80m in commitments obtained by its predecessor.

Investors
Fortino Capital II Growth raised commitments from institutional investors including BNP Paribas Fortis, AG Insurance, Belfius and PMV, which are all cornerstone investors in the fund. Other LPs include private investors and entrepreneurs.

Investments
Fortino has typically invested in the software and e-commerce sectors, though the GP said its latest fund will have flexibility to back more traditional and larger businesses looking to undertake digital transformation. It will also back companies looking to implement geographical expansion plans.

The vehicle will write equity cheques of €5-25m for companies headquartered in the Benelux region. It will look to take both minority and majority stakes in businesses with turnovers of €5-10m.

According to a statement, Fortino's first fund has made 13 investments. In June, the firm led a €5m series-A funding round for Aproplan, which enables construction companies to digitise their onsite paperwork. Other investments in 2017 include a $23m series-B round for online flower delivery service Bloomon and an undisclosed round for e-commerce software business BuyBay.

People
Fortino Capital Partners – Duco Sickinghe (managing partner).

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