EQT’s Marc Brown is looking for ‘IPO stars’ after closing €2.4bn growth fund

Stockholm’s EQT Growth closes above target, making it the largest first-time growth fund based in Europe

EQT Growth raises  €2.2bn in fee-generating AUM, with total commitments of €2.4bn.

Final close above €2bn target underlines attractiveness of EQT Growth’s thematic and active approach to investing in European growth-stage tech firms.

Record final close positions EQT Growth to help take leading tech companies to the next level, supported by the global power of EQT.

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EQT announces the final close of EQT Growth above its €2bn target, raising €2.2bn in fee-generating assets under management and total commitments of €2.4bn. As the largest first-time growth fund based in Europe, the raise underlines the strong investor demand for EQT Growth’s thematic investment strategy and active approach to unleashing sustainable growth in Europe and Israel’s leading technology companies.

The strategy seeks to invest around €50m to €200m, backing strong management teams of companies supported by secular macro trends primarily within four tech sub-sectors: enterprise, con/prosumer, health, and climate. It explores opportunities at the point where companies have achieved product-market fit and are taking the next step to scale. The Fund, which still has over two-thirds of capital available, has made seven investments to date and already includes some of Europe’s most innovative companies in its portfolio, such as Epidemic Sound, Mambu and Vinted.

Investment in European technology companies has grown vastly, increasing from around $20bn in 2017 to over $100bn in 2021, but European-based investors only made-up 30% of investors in growth-stage rounds in 2021.

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