Corten Capital has closed its second private equity fund at €680 million.
It said it will continue to partner with talented management teams to build market-leading business software, services & data companies across Europe and North America.
Every institutional investor in Corten Capital I has recommitted to the new fund, Corten Capital II.
“This exceptional group of university endowments, charitable foundations and family offices has been enlarged by new endowment style investors from the United States and Europe who are aligned with our model of sustainable long-term growth investing,” it added.
Corten Capital II also has the support of a group of ‘friends and family’ investors who have worked with its founders over many decades, as well as a significant commitment from the Corten team.
Corten Capital I, which was capitalised at €512m, is now substantially invested and will continue to back and build its two market leading portfolio companies, Matrix42 and Ekco, which have seen rapid growth and value creation since Corten’s investment in 2021 and 2022, respectively.
Matrix42 recently completed a transformational acquisition of Efecte, a leading Nordic service management software provider, while Ekco has made five acquisitions since its investment.
Corten Capital is now a fully integrated team of 23 professionals working across investment, growth and value creation, and research.
Joseph Schull, managing partner of Corten Capital, commented: “Our team is very appreciative to have the support of a remarkable group of investors – existing and new – for our strategy to do private equity differently.
“We have designed Corten to deliver outstanding performance through industry specialism, an operator-investor team, and research-led origination to build a focused portfolio of high-conviction investments.
“We could not be more excited to have secured fresh capital to pursue this strategy in a rapidly evolving market environment.”