Claret Capital Closes €575M Fund IV to Back European Growth

The big picture: Claret Capital Partners, a London-based independent growth debt fund manager, today announced the final close of its Claret European Growth Capital Fund IV (Fund IV), which has now raised €575 million in total, surpassing Claret’s original €500 million target. The €575 million total comprises €440 million in Fund IV commitments and €135 million in an affiliated discretionary mandate.

What it will back:

Investment Focus: Claret Capital provides growth debt solutions to companies across Europe.
Check Size: Loans typically range from €2 million to €100 million, with each opportunity evaluated on a case-by-case basis.
Sector Focus: The fund targets companies in the technology, life sciences, and impact sectors, supporting organic growth, acquisitions, R&D, geographical expansion, and bridge loans.

Who is behind it:

David Bateman and Johan Kampe are Managing Partners at Claret Capital Partners. The fund attracted increased commitments from Claret’s institutional investor base, including pension plans, insurance companies, family offices, and other leading public and institutional investors, as well as from private wealth investors via an ELTIF structure. No specific LP organizations were named. This fundraising brings Claret’s total capital raised since inception to €1.3 billion. The firm’s prior vehicle, Fund III, closed in 2022 with €297 million. Claret also launched a €72 million Opportunity Fund in May 2023 to provide follow-on funding for its portfolio.

The catch: Claret Capital operates in a competitive growth debt market, but the current environment, with more selective equity markets, is increasing demand for flexible, non-dilutive capital solutions. Fund IV is already 32% deployed across 27 companies, indicating strong deal flow and active deployment. The firm plans to expand its pan-European platform, increasing local presence across the continent’s key innovation hubs, including new team members now based in Paris and soon in Berlin.