Cipio holds final close for Fund VII on €174m

Oscar Geen
04 July 2017

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Cipio Partners has held a final close for its growth capital investment vehicle Cipio Partners Fund VII on тЌ174m.

The fund will make secondary growth capital investments in expansion-stage technology companies throughout Europe. It will buy stakes of between €5-15m in single companies as well as entire portfolios of assets. Because of this it could have up to 40 companies in its portfolio, although some will be very small stakes.

It will also provide primary funding to the firms it acquires stakes in. Including the initial investment, the maximum funding provided to a single company will be €17m (10% of the total raised).

This latest fundraise is a step up from the previous vehicle, which targeted €200m but eventually closed on €137m in January 2011 after holding an interim close on €61m.

The latest vehicle held an interim close on around €85m in June 2016. It is domicilied in Luxembourg and will run a four-year investment period.

Cipio has already made three investments using capital from the fund, buying stakes in German cloud communication company Tyntec, Irish telecoms software company Openet and Danish social media company Falcon.io. The vehicle is thought to be almost 20% invested currently and will announce two more investments this year.

Investors
The fund's LP base is a combination of around 40 institutional investors and family offices from both Europe and the US. The largest institutional investors are the European Investment Fund, UBS Asset Management and Austria's Capital Bank – Grawe Gruppe.

Investments
Cipio will buy stakes from existing investors in expansion-stage technology companies and then support their growth by providing further financing.

People
Cipio Partners – Diana Meyel (managing partner).