Oakley Capital races to €455m close for debut lower mid-market fund as its flagship vehicles balloon

European private equity house Oakley Capital has stormed past its target for its first lower mid-market fundraise, hitting about €455m after just six months in the market.

The firm had been hoping to collect €350m for the Oakley Capital Origin Fund, which will target smaller-sized deals in the technology, consumer and education sectors.

Oakley said the fund would invest between €10m and €50m in businesses with typical enterprise values of up to €100m.

The firm said the new fund was a natural step given the increasing size of its flagship funds, the most recent of which was closed on €1.46bn two years ago.

Oakley’s realised and unrealised track record in the segment stood at 3.6x gross MOIC and 63% gross IRR at the start of the year, it added.

The firm used Origin for its first investment, 7NXT, just three months after the fund was launched.

7NXT is an online fitness and nutrition platform in the German-speaking markets.

Source: AltAssets