Jolt Capital IV closes a €100M extension

Following the reopening of its fourth fund early 2023, Jolt Capital, an independent private equity firm specializing in growth investment in European deeptech companies, announces the completion of Jolt Capital IV’s €100M extension. The transaction involved existing investors as well as newcomers, including a European sovereign wealth fund and several large family offices.

After a first final closing of €271M achieved in September 2021 that exceeded the initial target of €250M, the team has decided to reopen the fund to provide even greater support to the outperforming industrial and software companies already in the portfolio, and to offer increased returns to its investors. Jolt Capital has had a stronger team of partners since 2022 and is benefiting from growing interest in deeptech. This is due to the global and sovereign issues it addresses (energy, health, climate, security) and the positive contribution of most of these technological solutions towards reducing global warming.

Jolt Capital IV has already made 6 investments in high-growth European deeptech companies. The fund's objective and timetable remain unchanged after this extension which brings the fund's total amount to €371M: to invest in a dozen future world leaders by the end of 2024, with tickets now ranging from €10M to €50M.

Since its inception in 2011, Jolt Capital has found a unique spot in Europe to finance the growth of B2B deeptech companies. Thanks to this extension, Jolt Capital's current assets under management amount to €550M. 

Jean Schmitt, Managing Partner and Chairman of Jolt Capital, comments: "We are strongly focused on our goal to invest in the very best software and industrial deeptech scaleups in Europe, despite a difficult global economic context. Europe has been able to nurture an amazing pool of innovative mid-sized companies ranging from €10M to €50M in revenue and must now learn to fund their scaling. Our conviction remains the same: we need more deeptech funds in Europe, capable of raising amounts exceeding one billion euros, to finance future industrial leaders that our continent desperately needs".

Reach Capital served as placement agent for Jolt Capital IV, and Goodwin served as legal advisor.