Winch Capital 4 has held a final close at €445 million, representing the first fund closed by the firm since it became Andera Partners in March. The fund will continue the firm’s strategy of investing in the lower mid-market, primarily in France. It will invest between €12 million and €50 million of its own capital and will structure financing rounds of up to €80 million.
Winch Capital 4’s first investment in July 2018 was in the Skill & You group, dedicated to distance learning in France.
Andera Partner’s latest fund is 50 percent larger than its predecessor, Winch Capital 3, which closed at €300 million in September 2014.