Nascent private equity firm Holland Private Equity has finalised a €77 million interim close on its debut fund, the “HPE PRO Institutional Fund”, attracting “several new international institutional investors and family offices”, the firm said in a statement.
The fund has a target size of €150 million and will focus on small- to mid-cap technology growth companies in the Netherlands, Belgium and Germany.
In January the firm held a first close with its cornerstone investor, IMQubator, a fund of funds that backs emerging Dutch managers. HPE, which hopes to hold a final close later this year, said it is currently in the due diligence phase with other institutional investors.
Hans van Ierland
The fund has also inked its first investment, a €9 million capital injection in Airborne International, a Dutch advanced manufacturing firm.
HPE focuses on stand-alone investment opportunities in which it can invest €10 million to €15 million for a significant minority position, according to the firm’s website.
The deal “validates [HPE’s] investment approach, with several other deals currently in execution in our pipeline”, stated HPE chief executive officer, Hans van Ierland.
In related news, Netherlands-based private equity firm, Forbion Capital Partners, also held two final closings; the €54m Co-Invest Fund, which will invest in late stage portfolio companies alongside Forbion’s FCF 1 fund, and the €136 million FCF II fund, which will invest in European, North American, and Israeli private companies in the life sciences sector.