Marondo holds first close on €72m

The vehicle launched at the end of Q3 2017 and has set a target of €175m. It was registered in Munich as Marondo Small-Cap Growth Fund I Gmbh & Co KG in February 2018.

The fund aims to fill the gap between later-stage VC funding and private equity.

Marondo was founded by ex-3i executives Stefan Elsser, Marko Maschek and Hansjörg Ruof, along with former Perusa partner Christopher Höfener.

Capstone is acting as placement agent, while P+P Pöllath + Partners will provide legal advice.

Investors
The fund has received commitments from mostly international LPs, including several multi-family offices.

Investments
The fund will target high-growth German companies (double-digit compound annual growth rate) in the technology sector with revenues of more than €5m. It will invest between €5-10m per company on average and up to €15m per project.

It will provide liquidity to early-stage and VC investors, as well as injecting additional growth capital in the businesses.

People
Marondo – Stefan Elsser, Marko Maschek, Hansjörg Ruof, Christopher Höfener (founding partners).

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