Vendis closes third fund on €300m

The third-generation vehicle is a 66% increase in size from Vendis II, which closed on €180m in 2016. The latter is fully invested in nine companies, after its latest investment in the France-based jewellery brand L'Atelier d'Amaya.

The fund was launched in Q1 2019 and opened to new investors in April. The hard-cap of the vehicle exceeds €300m – this could still be hit if a few additional backers finalised their commitments, Unquote has learned.

Founded in 2009, Vendis is a Brussels-headquartered GP specialised in the small-cap and mid-market consumer sector.

Investors
Vendis has secured commitments from institutional investors (including insurance companies, pension funds and governmental institutions), whose commitments represent around 60% of the fund, as well as family offices and entrepreneurs from the consumer sector. 

LPs are based in France, Belgium, Germany and the Netherlands, Unquote has learned.  

Investments
Vendis III will invest in consumer SMEs based in Benelux, France, DACH and Scandinavia. The fund will target consumer brands and retailers looking to launch new product lines, develop new sales channels, or expand into new countries.

Providing equity tickets in the €15-40m range, the GP will complete both growth and buyout deals. Vendis prefers to be a majority investor, but has completed minority deals in the past, Unquote understands.  

The firm will start having a permanent presence in France and Germany to support its portfolio companies in their international growth. 

People
Vendis Capital Management – Michiel Deturck, Cedric Olbrechts, Vincent Braams, Mathieu de Medeiros (partners).

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• Benelux
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