Axcel closes its fifth investment fund, Axcel V, at EUR 617M.
Axcel, a Copenhagen, Denmark-headquartered Nordic private equity company, announced that it has closed the raising process for its fifth fund with total commitments at its hard-cap of EUR 617M ($755M).
The fund, Axcel V, is financed by existing investors and a diversified group of new investors from the Nordic countries, the rest of Europe and the US, including large institutional investors as well as a large number of families, foundations and company owners. Their names remained undisclosed.
Axcel V was raised in 2017 as a standard private equity limited partnership focusing on the Nordic mid-market. The fund has already made investments in Mountain Top, IsaDora and Nissens, which took about 25 % of the fund's availability.
Axcel V will pursue the same strategy as Axcel IV, namely investing in leading, medium-sized companies with great potential for development primarily in Denmark and Sweden, and with a mandate to invest in the other Nordic countries.
This is the largest fund closed by Axcel so far, the previous one, Axcel IV, was raised in 2010 as a EUR 485M standard private equity limited partnership. The fund has committed capital of DKK 3.6 billion and has invested in nine companies.