€1.5bn deployed across 200+ European innovators
For over a decade, our team have backed the founders and entrepreneurs building Europe’s most ambitious businesses. Today, we’re pleased to mark a significant milestone: more than €1.5 billion deployed through the Claret funds across 200+ companies spanning technology, life sciences, and impact.
Over that period, growth debt has evolved into an integral part of the private capital ecosystem, now representing 22% of total venture capital funding[1] in mature markets. As founders increasingly seek to scale with less dilution, it has become a core funding tool in Europe – supporting international expansion, M&A and innovation.
Reaching €1.5bn deployed reflects both this demand and the trust placed in Claret. Across our portfolio, we have seen companies internationalise faster, pursue product differentiation with confidence, and reach inflection points that might otherwise have taken years longer. Active portfolio companies in the Claret funds average 40% revenue growth – a testament to the quality of businesses driving that demand.
Our investor base has grown alongside this evolution. We are grateful for their continued support, reflecting confidence in the European opportunity, the team, and our track record.
This milestone is underpinned by the continued momentum of Fund IV, with recent investments including Cinclus Pharma, Inventiva, and Surfe – amongst others – and alongside follow-ons in Holidu, Paysend, Wellster Healthtech, and more. These companies represent a broad range of high-growth businesses across Europe. Fund IV remains active, with a strong pipeline of companies seeking low‑dilution growth capital.
“Reaching €1.5bn deployed would not have been possible without the trust of the founders, management teams and shareholders who chose us as their partner – and the investors who backed our conviction in the European opportunity. We are grateful for both, and remain as committed as ever to what lies ahead.”
– Johan Kampe, Managing Partner
“Growth debt is now an established part of how leading European companies finance their next stage – and this milestone reflects both the scale of that opportunity and the quality of the companies we have had the privilege of backing.”
– David Bateman, Managing Partner
[1] https://pitchbook.com/news/reports/q1-2026-european-venture-report
