NewAlpha Verto holds first close for maiden fund

The GP expects to hold a €150m second close around mid-2019, Unquote understands. The GP has not disclosed the fund's target.

NewAlpha Verto is the result of the alliance announced in October 2017 between Verto Capital Europe and asset manager NewAlpha.

Investors
LPs committing to the vehicle have mostly been institutional investors such as French banks and insurance companies.

Crédit Mutuel Nord Europe, MACSF, Bred, BPI France and high-net-worth individuals made commitments to the vehicle, according to the French publication Capital Finance. NewAlpha Verto declined to comment on the kind of LPs backing the vehicle.

Investments
The fund targets profitable SMEs generating a turnover of at least €10m with annual growth of more than 10%. The fund's first investment was Biobank, a French orthopaedic and dental graft company. 

People
NewAlpha Verto Capital – Thomas Fort (managing director).

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