Invest Equity has launched the Greater Europe Fund and has already attracted a commitment of €20m from sponsors Investkredit Bank and Österreichische Volksbanken and the German KfW bank.
Invest Equity is a Vienna-based private equity and venture capital management firm founded in 1998. The group currently manages three funds with a focus on growth companies and mid market buyouts and has €76m under management.
The new fund will continue to focus on mid market companies in Austria and will also be looking at opportunities in the surrounding accession countries such as the Czech Republic, Slovakia, Hungary, Slovenia and Southern Germany. The fund is hoping for a first close at €50m by the summer. Managing partner Martin Prohazka says the firm has not yet decided on a final target for the fund. “We will see what the appetite for the fund is in the first phase of fund raising and then we will decide on the final target.”