Nordic Capital has successfully closed its latest fund, Nordic Capital Evolution II, at a hard cap of EUR 2 billion, significantly surpassing its initial target of EUR 1.4 billion. The fund was raised in just four months, reflecting strong demand and support from both existing and new investors, particularly from the Americas. Evolution II is 65% larger than its predecessor, Evolution I, which raised EUR 1.2 billion in 2021.

The Evolution strategy allows Nordic Capital to expand its focus on mid-market companies, primarily in Northern Europe, targeting firms with an enterprise value between EUR 100 million and EUR 400-500 million. The fund will concentrate on control buyouts and non-cyclical growth opportunities in key sectors such as Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. While Evolution II will focus on lower mid-market investments, Nordic Capital's flagship funds will continue to target upper mid-market companies.

Nordic Capital has a 35-year history of investing in mid-market companies, emphasizing partnerships with founders and management teams to foster growth. As an Article 8 fund, Evolution II is committed to sustainability and aims to promote environmental, social, and governance practices within its portfolio companies.

The firm’s Evolution I fund has already made ten investments, with a strong emphasis on collaboration with company founders and a focus on non-competitive deal sourcing. Joakim Lundvall, Co-Head of the Evolution advisory team, expressed gratitude for the robust demand for Evolution II, highlighting the confidence investors have in Nordic Capital’s mid-market strategy.

Jonas Agnblad, also Co-Head of the Evolution advisory team, noted that the Evolution funds apply Nordic Capital’s established sector strategy to a broader range of mid-sized companies. This partnership model leverages the firm’s expertise and extensive network to support growth and international expansion.

Pär Norberg, Head of Investor Relations, emphasized the significance of the strong re-up rate from existing investors and the confidence shown by new investors. He expressed gratitude for their support and enthusiasm for future collaborations during the Evolution II fund's lifecycle.

Overall, Nordic Capital's successful fundraising for Evolution II underscores its strong reputation and investor confidence in its mid-market investment strategy, positioning the firm to continue its focus on growth and sustainability in the coming years.