Vendis holds first close for Fund II

Although the closing means the fund has almost reached its target of €150m, Vendis has stated it may choose to close the fund on a higher figure.

The vehicle's predecessor, Vendis Capital I, launched in 2009 and held a final close above target on €110m in December 2010.

Vendis's first fund is now fully invested and made eight investments in total, the most recent of which was Belgian jewellery designer Victoria Group in February 2014.

The firm also made its debut exit last year, selling Belgian multi-brand fashion retailer Zeb to listed Belgian firm Colruyt Group.

Investors
Vendis Capital II received several commitments from existing investors of the firm's first fund, namely European Investment Fund and Korys, the family office of the Colruyt family.

The vehicle also received a commitment from new LP Morgan Stanley AIP.

Investments
The fund will invest tickets of €5–25m in Benelux- and France-based SMEs operating in the consumer sector.

Typically, Vendis invests in companies that generate €10–100m in revenues with an EBITDA of €2–15m. The firm invests in both buyouts and growth investment transactions.

People
Cedric Olbrechts and Michiel Deturck are partners at Vendis.

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• Topics
• Benelux
• Funds
• Belgium
• Vendis Capital