One Peak gears up for fund III

The Luxembourg-domiciled vehicle is expected to follow the strategy of its predecessors, investing in Europe-based technology companies.

The GP's previous fund, One Peak Growth II, held a final close in June 2020 on EUR 443m, as reported. The fund had an initial target of EUR 300m, according to Unquote data, which it subsequently increased to EUR 400m. The vehicle is backed by university endowments, foundations, pension funds, funds-of-funds and family offices.

One Peak Growth II invests in growing Europe-based technology and technology-enabled companies with international expansion plans. One Peak generally takes significant minority stakes in its portfolio companies, but can also take majority positions. The firm has an equity sweet spot of EUR 10m - EUR 80m, according One Peak's website.

One Peak was founded in 2014 by managing partners David Klein and Humbertus Liedekerke. The GP's current portfolio includes UK-based payment platform PaySend; the GP led the company's USD 125m Series-B round in May 2021. The firm has also backed Poland-headquartered telemedicine and medical practice management software DocPlanner.

One Peak Partners did not respond to requests for comment at the time of publication.

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