Claret Capital has closed a fund focused on providing follow-on funding for its existing portfolio companies.
The Claret European Growth Opportunities Annex Fund I has secured €72 million of capital to provide additional loans to strongly performing companies in its existing portfolio. All capital was raised from existing investors in Claret’s funds.
Claret Capital said the vehicle will be more concentrated than its normal funds and will make between 10 and 15 loans to firms that are looking to exploit particular opportunities for growth in today’s markets. It will support organic growth, acquisitions and refinancings.
It has already committed approximately half of its capital and expects to be fully invested within the next 12 months.
Johan Kampe, senior managing partner at Claret Capital, said: “In the last few weeks we’ve witnessed a shakeup in the venture debt market, and are seeing more companies looking to move credit facilities and lending opportunities.
“The Opportunity Annex Fund demonstrates our continued commitment to supporting the growth and development of strongly performing portfolio companies. We are excited about the opportunities that this fund will provide for our portfolio companies, and we look forward to working with them to help them achieve their full potential.”
Claret Capital closed its third European growth debt fund in 2022 with €297 million of committed capital as well as a number of co-investment agreements.