Enern nears close for VC fund, on road for growth vehicle

Katka Krosnar (Mergermarket)
28 February 2020

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Czech Republic's Enern is nearing a close for its fourth venture fund, and is aiming to raise €200m for a new growth fund.

The Prague-based venture and growth capital player is raising €80m for its fourth venture fund, founding partner Pavel Mucha said. While the fund is largely committed, it would like to hear from interested parties, he said. Enern aims to close the fundraising in Q2 this year.

The new fund will invest in the consumer sector and B2B companies. Typical investments will be in the range €1-4m and the fund is targeting the CEE region, including Poland, the Czech Republic, Romania, Bulgaria and Ukraine, Mucha said. Enern plans to open an office in Warsaw this year, he added.

The VC is also in the early stages of raising €200m for its new growth fund, Mucha said. The fund's first closing is expected to take place later this year followed by a second closing next year.

This growth fund will target companies in the DACH and CEE regions, with Enern planning to open a Munich office to support this. The fund will seek technology companies but also traditional companies that can bring digitalisation to their operations. Typical investments will be between €10m and €20m.