GRO Capital raises €255m

The Nordic-based private equity firm closes second fund above target.

GRO Capital has closed its second fund, GRO Fund II, at €255 million, surpassing its target of €250 million. The fund is focused on B2B software companies in Northern Europe and is a continuation of the strategy pursued by its predecessor, which invested in the Nordic region, Benelux and DACH.

Danica Pension, Sampension, Dansk Vaekstkapital II, Argentum and the European Investment Fund were among the fund’s investor base, which also included investors from the US and Australia.

Bruun & Hjejle provided legal advice for the fundraise and Asante Capital acted as the exclusive placement agent.