Suma to launch second fund in H2

The vehicle's predecessor Summa Growth Capital Fund I held a final close on €50m in 2015, against a €100m target and is now fully deployed.

Summa Growth Capital Fund II will launch in the fourth quarter of 2019 and will target €120-150m.

Investors
Suma is looking for commitments of between €5-15m for the fund. Approximately 40% of its LP base is comprised of family offices and the remaining investors are private institutions.

The GP is hoping to geographically expand its investor base in the latest raise as around 80% is currently accounted for by Spanish LPs.

Investments
The fund will invest in Spanish companies with turnovers of €20-50m, investing approximately €10m of equity per company. It will target both majority and minority stakes and invest across different sectors, including niche manufacturing, specialised retail, business process outsourcing and e-commerce.

People
Suma Capital - Pau Bermudez-Cañete (partner).

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