Jolt Capital holds EUR 271m final close for fourth fund

According to Unquote Data, Jolt Capital IV held a EUR 101m first close in July 2020, followed by a EUR 212m interim close in April 2021.

Azla Advisors acted as global placement agent, while Reach Capital focused on the fund's French investors.

The GP's predecessor vehicle held a final close in November 2017 on EUR 83m. The vehicle deployed equity tickets of EUR 7m-15m and backed companies with revenues of EUR 10m-100m. The GP previously raised EUR 45m for its second fund.

Founded in 2011 and headquartered in Paris, Jolt Capital now has around EUR 500m in assets under management (AUM), compared with EUR 150m in AUM at the final close of its third fund.

Investors
The vehicle's LP base includes pension funds, insurance companies and family offices. The GP said in a statement that existing sovereign wealth fund LPs have also committed to its latest vehicle, as well as new entrepreneurs.

LPs in Jolt Capital's predecessor fund include Access Capital Partners and Temasek.

Investments
The fund will follow the investment strategy of Jolt Capital's previous vehicles, investing in European technology companies. However, the fund can deploy larger equity tickets for each portfolio company, with the option to provide cheques in the EUR 15m-40m region. The fund expects to make 12 platform investments, whereas its predecessor aimed to make six or seven.

The fund made its first investment in April 2021, backing a EUR 30m funding round for Finland-based Virta, a company that provides electric vehicle charging services for companies.

Jolt Capital has 14 portfolio companies in total. Its previous investments include France-based learning and training provider Skill & You, which was acquired by Andera Partners in July 2018 and was acquired by IK Investment Partners in February 2021.

People
Jolt Capital – Jean Schmitt (managing partner, president).

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