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Harbert raises €215m

The Birmingham-based asset management firm has already invested in 21 companies with Fund II.

Harbert Management Corporation has raised €215 million ($251.7 million; £191.2 million) for its European Growth Capital Fund II, which almost doubled the size of its predecessor €122 million fund I.

By providing subordinated debt capital, the fund will focus on businesses in technology, life science and innovative sectors in Western Europe.

Established in 1993, the firm currently manages $5.9 billion in assets.