Private equity and venture capital firm Eurazeo has pulled in an additional €340 million from a group of international investors. These investors will form a new continuation fund to acquire a 32 percent stake in Eurazeo Growth assets, which were financed through the firm’s balance sheet.
“With initial returns on this portfolio of above 25 percent, and significant new relationships for the Eurazeo Growth team, this is a very significant step for us and validates our vision and the investment model we have built over the years,” said Yann du Rusquec, Partner at Eurazeo Growth.
Through this transaction, which is set to close this quarter, the firm will receive €215 million cash. Recently the firm reported raising a total of €2.8 billion in 2020, an increase of 18 percent compared with the year before.
Eurazeo Growth has a team of 15 spread across Paris, London and Berlin. Recent investments include the UK fintech startup Thought Machine and Paris-based refurbished device outlet Back Market. Together with the venture capital side, the publicly listed firm manages over €4 billion in tech assets under management, all in tech.
Photo: Eurazeo CEO Virginie Morgon