Eurazeo has announced the first close of Eurazeo Growth Fund IV (EGF IV) at €650m, with the fund targeting a €1bn total raise.

The vehicle will invest in high-growth European technology businesses, with a particular focus on AI-native companies ready to scale globally.

Initial commitments have come from major European institutional investors, reflecting strong demand for exposure to next-generation digital platforms. The fund is already deploying capital, with early portfolio companies growing at over 50% annually.

EGF IV builds on Eurazeo’s track record of backing global tech leaders from Europe, including Doctolib, Cognigy, Qonto, Dataiku, commercetools, and Neo4j. Eurazeo Growth now manages €4bn in assets across its strategy.

“This first closing of the Eurazeo Growth Fund IV is a defining milestone in our Growth strategy,” said Christophe Bavière and William Kadouch-Chassaing, Co-CEOs. “The investment team is female-led, which remains rare in the tech ecosystem.”

Hala Fadel, Managing Partner of the Growth team, added: “Our mission is to support founders who are scaling globally and reinventing the way business is done by leveraging artificial intelligence.”

Eurazeo’s Growth team consists of 17 international investment professionals across France, Germany, the UK, and Spain, supported by five operating partners with hands-on experience from companies such as Klarna, PayPal, and Datadog.

The firm sees a unique opportunity in Europe’s deep technical talent pool, strengthened by leading AI research centres and universities. EGF IV aims to capitalise on reduced capital barriers and faster scaling cycles for European startups in the post-generative AI era.

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