Verdane closes Edda III past target at €1.1 billion, bringing the firm’s total funds closed in the last 6 months to €2.2 billion

• Verdane Edda III has closed significantly past its target at €1.1 billion, doubling its predecessor fund Edda II. This is the firm's second successful fund close in six months, following the announcement of Verdane Freya XI at €1.1 billion in September 2023.
• Verdane's proven platform has attracted an increasingly global LP base, with US investors comprising 25% of Edda III commitments.
• 68% of LPs from Verdane's 2003 debut fund are investors in current funds, backing Verdane's thematic investment focus on European companies digitalising and decarbonising the economy.

Verdane, the European specialist growth investment firm, is pleased to announce the successful final close of Verdane Edda III ("Edda III" or "the Fund") at €1.1 billion, significantly past its target. In the past six months, Verdane has successfully closed two funds above target, together totalling €2.2 billion, including the €1.1 billion Freya XI fund which held its final close in September 2023.

Verdane funds partner with ambitious growth companies that help digitalise and decarbonise the European economies. Current holdings include: CAIA Cosmetics, one of Northern Europe's fastest-growing beauty brands; Evondos,the leader in automated medicine dispensing services for elderly home care clients, and Hornetsecurity, a market leader providing cloud based cybersecurity services to business customers worldwide.

The Edda series of funds have already made three successful realisations, including Kappa Bioscience to Balchem (NASDAQ:BCPC) in 2022 and HYMA to BHG Group (LSE:0SOM) in 2021.

Edda III includes commitments from private and public pension funds, leading global university endowments, foundations, insurance companies and family offices. 40% of Edda III commitments come from non-profit organisations.

68% of LPs from Verdane's first fund established in 2003 continue to back current Verdane funds. Verdane's LP base is increasingly international, with 25% of commitments to Edda III coming from US investors. Across all Verdane funds, 70% of LPs are now headquartered outside of the Nordics.

Verdane will continue to invest thematically in leading European companies that help digitalise and decarbonise the economy. Verdane has consistently deployed capital in these two structural growth megatrends, backing 19 leading European businesses over the past 12 months. Verdane's largest portfolio companies alone have already created well over 13,300 jobs during their holding period.