Orbit Capital aims for EUR 200m with new scaleup fund

The Luxembourg-domiciled Orbit Growth SCSp fund held a first close on EUR 42m last December, Nesrsta said.

The sponsor is targeting European institutional investors for the vehicle and aims to have final commitments within six months, he said.

The fund, which will have an eight-year life, has three companies in its portfolio: Booksy, a Poland-based, US-focused wellness and beauty appointment software company, Ukraine-founded global leader in online language tutoring Preply, and Czech online grocery Rohlik.

The new capital will be invested into technology and software scaleups in the central and eastern Europe (CEE) region or with CEE roots, Nestrsta said.

The initial ticket size will range from EUR 5m to EUR 10m with additional capacity for follow-on investments, he said, adding that the fund aims to invest in 15 companies over the next five years.

Orbit Capital is targeting "aspirational founders" of companies in the growth phase, Nesrsta said.

Most recently, Orbit Capital invested USD 8m into Preply as part of a USD 50m Series C funding round, as announced in July.

Orbit Capital also has a EUR 35m venture debt fund, Orbit Capital Venture Debt Fund SICAV, offering financing solutions to scaleups between funding rounds. This has provided debt funding to six companies across Europe.

Orbit Capital has seven people in its team, which will expand to nine by the year-end, Nesrsta said.

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