Idinvest Partners, an investor in SMEs across Europe, has held the final closing of its second capital growth fund (Idinvest Growth Fund II) at EUR340 million, surpassing its initial target of EUR300 million.
Idinvest Growth Fund II brings together a panel of renowned investors, of whom more than 75 per cent are based outside France.
Since its launch in 2017, the fund has invested 50 per cent of its total commitments across 15 companies, including Ogury, Secret Escapes, Klaxoon, Vestiaire Collective, and Sophia Genetics.
Idinvest Growth Fund II (IGF II) invests in businesses with strong potential that have already developed excellent products and services recognised and adopted by consumers. A large majority of businesses targetted by IGF II achieve annual revenue of over EUR10 million and demonstrate rapid annual growth over 50 per cent. Digital companies form a significant part of the portfolio, but the fund retains a certain degree of flexibility with its investment sectors, enabling it to invest in healthcare or other industries.
Benoist Grossmann, Managing Partner, says: “Idinvest is proud to support European SMEs at every stage of their life-cycle, from early-stage venture to later stage funding across the capital structure. We are delighted with the success of the Fund among both French and international institutional investors, and believe Idinvest Growth Fund II will support these successful and ambitious SMEs to transform into world leaders.”
