Claret Capital (Claret Capital Partners Limited), the London-based Pan-European growth capital adviser, today announces the launch of its first Opportunity Fund, the Claret European Growth Opportunities Annex Fund I, with a total size of €72m. The fund will provide follow-on funding to strongly performing portfolio companies. The fund follows the announcement of Claret’s €297 million European Growth Capital Fund III (‘Fund III’) in August last year.
The Opportunity Fund aims to support successful businesses in the existing Claret funds. It will allow Claret to focus additional capital on strongly performing portfolio companies that require further funding or to exploit particular opportunities in today’s markets.
The final close of this fresh fund includes commitments from a range of leading institutional investors and high-net-worth individuals who continue to support Claret within the debt financing market, all of whom are existing LPs in Claret’s other funds.
All deals will have a European focus, in the countries where portfolio companies are currently domiciled. The previous funds have invested in a diverse range of companies across Europe.
Claret funds have a strong track record of investing in and supporting successful startups, including Butternut Box (UK), Exoticca (Spain) , Holidu (Germany), JobValley (Germany), Market Logic Software (Germany), Paysend (UK), Wefox (Germany and Switzerland) and Zai (Ireland).
Johan Kampe, Senior Managing Partner at Claret Capital Partners commented:
“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. As well as providing funding, we’re proud of the network we’ve built at Claret and look forward to continuing to work with startups and growing their businesses alongside them as partners.”
David Nolan and Kevin Glynn, co-founders of Butternut, an Opportunity Fund investment, said:
“Butternut is driven by our founding purpose of delivering health and happiness to dogs and their humans all over the world. With the help of Claret Capital we have been able to make a long-term investment into this exact purpose. Our facility has enabled us to expand our operational footprint in order to expand our fanatical base of Butternut customers across the UK and Europe. Claret Capital are an amazing partner and we are delighted they are part of the Butternut journey.”
Claret Capital funds high growth business with proven management teams in need of less dilutive capital to drive their continued ambitions. Loans vary in size but are typically between €1 million to €50 million, with each business evaluated on an independent basis by our team of experienced investment professionals.