GRO Capital closed its second fund at 255 million euros.
GRO Capital, a Copenhagen, Denmark-based private equity company announced the final close of GRO Fund II, a B2B software focused fund targeting leading software companies with momentum in Northern Europe.
The closing was made at EUR 255M ($280M). The Danish private equity firm now has roughly €400M in assets under management, used to accelerate leading software companies in Northern Europe.
Fund II is a continuation of the strategy pursued in GRO Fund I with focus on accelerating mature software companies and a geographical investment mandate covering the Nordic region, Benelux and DACH.
The close of Fund II follows a period of high investment activity by GRO Fund I.
Since 2015, the investment team has completed eight platform investments and made nine add-on investments. Fund II is already 30% invested between the two platform investments in Fund II; Omada a global leader of Identity Governance and Administration software and services and Adform a global leader of ad tech software and services.