Innova Fund VI holds final close at EUR 271 million
Innova Capital, a leading private equity firm operating in Central and Eastern Europe, reaches the final close of EUR 271m on its Innova/6, Poland-anchored fund.
Over 60% of the committed capital came from prior fund participants, with remaining commitments provided by new investors. The fund has received backing from institutional and commercial players from Europe and North America.
“We highly value the trust of our existing and new LPs, institutions, entrepreneurs and family offices, and we would like to express our sincere thanks to all of them. We are also extremely pleased to have received the strong endorsement from our first Polish institutional investor (PFR FF FIZ). Leveraging our global network, industry intelligence and strategic knowledge, we continue our commitment to support and invest in exceptional opportunities”, says Krzysztof Kulig, Senior Partner, responsible for fundraising process.
Innova/6 follows the same strategy as previous funds through investments and co-investments in medium-sized companies with enterprise value typically ranging from EUR 50m to EUR 150m. Target sectors include financial and business services, TMT, manufacturing, consumer products and services, healthcare and retail. The investment period is set for 4 years (fund term 8 years).
The fund’s investment strategy focuses on Innova’s two signature deal types: Founder Succession and a Platform+ consolidation, involving the combination of two companies at inception and leveraging the income and cost synergies for further add-on acquisitions.
Today, Innova has a proven track record of investment across 10 countries with over EUR 900m raised and more than 50 deals invested. Innova has already completed five deals from the new fund and thus is almost 50% deployed at the time of final close.