Carlyle raises greater than $3 billion to put money into European tech

FILE PHOTO: The logo of The Carlyle Group is displayed at the company

Targeted on decrease mid-market and progress expertise firms throughout Europe, the fund, referred to as CETP V, has exceeded its 2.5 billion euro goal in lower than a yr of fundraising, greater than doubling the dimensions of the earlier fund CETP IV.

With a mean funding horizon of 5 years, it’s concentrating on areas corresponding to cybersecurity, digital transformation and cleantech, in addition to software program functions for monetary companies, healthcare and infrastructure, Michael Wand and Vladimir Lasocki stated.

Lasocki stated there have been alternatives in much less impacted personal markets, regardless of the plunge in tech valuations and a broad tech selloff in public markets following the pandemic and disaster brought on by the Ukraine battle.

Carlyle goals to put money into roughly 20-30 firms by means of the brand new fund and typically will purchase a majority stake.

It is going to, nonetheless, reserve about 15% of the fund for progress fairness transactions, Wand and Lasocki stated.

The fund will write fairness cheques of as much as 250 million euros, leading to offers from between 100 million euros and 500 million euros in enterprise worth, they stated.

Concentrating on B2B expertise companies in Europe, Carlyle will help portfolio companies with plans to turn into extra worldwide, for instance breaking into the U.S. market.

It is going to additionally work with the businesses to improve administration groups and speed up progress by way of M&A transactions, the co-heads stated.

The fund already already has two investments – Euro Techno Com Group (ETC) a value-added distributor of telecoms gear which it offered to Cinven in June, rolling on a minority stake into its new fund, and digital advertising and marketing company Incubeta, which it acquired earlier this month.

($1 = 0.9625 euros)

(Reporting by Emma-Victoria Farr, modifying by Barbara Lewis)

By Emma-Victoria Farr


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