Highland Europe launches $706m Technology Growth IV

Harriet Matthews
28 September 2020

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According to a regulatory filing dated 22 September 2020, Highland Europe has registered Highland Europe Technology Growth IV with a target of more than $706m.

The fund is registered as a Jersey LP. The vehicle has not set a minimum commitment, according to the filing.

The registration comes two years after the GP held a final close for its predecessor technology-focused vehicle: Highland Europe Technology Growth III closed in June 2018 on €463m. Kirkland & Ellis provided legal advice for the predecessor vehicle.

According to Unquote Data, LPs in the vehicle included funds-of-funds manager Alpha Associates, as well as Danish pension fund Industriens Pensionsforsikring and Switzerland-based Pictet Alternative Advisors.

Highland Growth III made growth equity investments in Europe-based software and internet companies, focusing on scaling up and expanding their business. The vehicle planned to deploy equally between France, Germany, the UK and the rest of Europe, according to a statement issued at the time of the final close. Highland generally deploys €10-50m in equity per growth investment.

The portfolio of the predecessor vehicle includes UK-based online probate platform Farewill and UK-based protein powder and protein bar producer Huel.

Highland Europe declined to comment.