London-based Claret Capital Partners has closed its fourth growth debt fund, Claret European Growth Capital Fund IV, at €575 million. The fund exceeded its initial target of €500 million and consists of €440 million in direct commitments and €135 million in discretionary mandates.
Institutional investors, including pension funds, banks, and sovereign-linked lenders like the European Investment Fund and British Business Bank, provided over 90% of the capital. An additional €70 million was raised via Banca March for high-net-worth individuals, while family offices and entrepreneurs contributed the remaining 10%.
The firm provides non-dilutive financing, typically starting with loans between €2 million and €5 million. As companies expand, Claret increases the funding, as demonstrated by Open Cosmos, which grew its financing from €3.2 million to over €50 million, and HOLIDU, which received over €100 million.
Claret Capital currently manages over 31 employees and plans to open a Paris office in late 2025, with further hiring in Berlin expected by the end of 2026. Since 2013, the firm has managed more than €1.3 billion in investments across over 210 companies in the technology and life sciences sectors.
The investment strategy focuses on businesses with proven market feedback and experienced teams. Future phases will prioritize deeptech, semiconductors, and dual-use technologies, including AI, aligning with broader venture capital trends while maintaining a neutral stance on company exit timelines.
