Evoco raises EUR93m for first close of third fund

Zurich

Zürich-based private equity firm Evoco has held a first close of its third fund, Evoco TSE III SCSp at EUR93 million, representing more than 50 per cent of the target size of its third institutional fund.

Domiciled in Luxembourg, Evoco TSE III SCSp has a target size of EUR150 million. Investments into the fund came in from several European investors, including existing LPs as well as new investors. The Evoco team also committed more than EUR6 million alongside the other parties.

Evoco acquires controlling stakes in European mid-sized companies and supports them to drive profitability through innovation, governance, and scaling of operations. “Thanks to our very hands-on approach, we actively strengthen our portfolio companies in different stages of their corporate lives and build platforms for growth and increased value generation,” said Michel Galeazzi, co-founder and partner.

Acquired businesses typically generate profitable turnover of between EUR30 million and EUR250 million.

Evoco’s next fund will continue the strategy of previous funds; acquiring portfolios of lower-mid market companies in the DACH area. 

“We have pioneered the method of acquiring multiple companies in one single transaction, the preferred method for vendors looking for an efficient way to realise peripheral value and focus on their core business,” said Felix Ackermann, co-founder and partner.