SENNA

European Private Equity Firm Jolt Capital Raises €600 Million for New Fund

Jolt Capital, a Paris-based private equity firm, has held a €600 million first close for its latest fund, underscoring continued investor appetite for European buyout strategies despite economic headwinds.

The new vehicle, Jolt Capital IV, will target majority stakes in small-to-medium sized technology and technology-enabled companies across Europe, the firm said in a statement. The fundraise represents a significant step up from Jolt's prior fund, which closed at €400 million in 2019.

"We are seeing strong demand from investors who recognize the attractive risk-adjusted returns that our differentiated strategy can deliver, even in uncertain market conditions," said Jolt Capital's founder and managing partner, Jean Sébastien Pelland.

Jolt's focus on the tech-enabled sector has resonated with limited partners seeking exposure to resilient, high-growth businesses. The firm's portfolio includes software, fintech, and business services companies across countries such as France, Germany, and the Nordics.

"European tech is maturing and producing an increasing number of compelling investment opportunities," said Pelland. "Our local presence and deep domain expertise allow us to identify and partner with the most promising founders and management teams in the region."

The fundraise comes as private equity firms globally face a more challenging environment, with rising interest rates, volatile public markets, and economic uncertainty weighing on deal activity. However, investors appear to retain conviction in specialized, operationally-focused managers like Jolt that can navigate complex market conditions.

"Jolt has demonstrated an ability to generate consistent, attractive returns through multiple cycles," said an investor source familiar with the firm. "Their thematic, buy-and-build approach resonates with LPs seeking differentiated exposure to the European tech landscape."

Jolt was advised on the fundraise by placement agent Campbell Lutyens. The firm plans to deploy the new capital over the next 3-4 years, building on a portfolio that has generated a 2.4x gross multiple of invested capital to date.