Kreos Capital, a European provider of venture debt solutions, has now committed over EUR 150 million in some 30 transactions from its new fund, Kreos III. The pace of investment illu
Kreos Capital, a European provider of venture debt solutions, has now committed over EUR 150 million in some 30 transactions from its new fund, Kreos III. The pace of investment illustrates Kreos’s execution capability and the general appetite for venture debt in Europe and Israel at all stages of a venture-backed company’s life cycle.
Amongst others, new investments from Kreos III include: Apertio – the industry leader in subscriber-centric, core network software applications with over 300 million subscribers and customers that include Orange, T-Mobile and Vodafone; Deep Breeze – a medical device company that has developed a proprietary patented technology, Vibration Response Imaging, for pulmonary imaging; Figleaves – the world’s largest online retailer of branded intimate apparel, including underwear, swimwear and nightwear for men and women from designer labels such as Malizia by La Perla, Elle McPherson, Wonderbra, Wacoal and Gossard; Finjan – a leading provider of Proactive Secure Content Management, focusing on web security solutions for businesses and organisations. Its web security appliances utilise real-time code inspection technology, enabling enterprises to block malicious web attacks on-the-fly, without requiring signatures or patches; and Heptagon – a world-leading provider of high-performance replicated micro-optics for mobile phone camera lenses, LED and other applications.
‘There has been significant growth in the venture debt market in Europe and Israel over the past few years,’ says Ross Ahlgren, General Partner at Kreos. ‘There is also a conscious flight to quality by the top-tier venture capital funds among the debt providers. Our investment record over the past seven months is a clear indication that Kreos Capital is the preferred partner and we are consciously building even stronger relationships with our venture capital partners going forward.’
Kreos established the European venture debt market in 1998. Today, venture debt has been firmly established as a complementary financing tool for venture capital-backed companies in Europe. Since its launch, Kreos has completed close to 200 transactions in 12 countries across Europe and Israel and, committed a total of more than EUR 450 million. Kreos III formally closed at the end of 2006 and has an equity capital of EUR 200 million (USD 260 million) that can be recycled multiple times.