Early backer of Personio and Enpal Picus Capital raises €150M in preferred equity from Carlyle AlpInvest — TFN

Picus Capital has secured a capital increase, closing a €150 million most well-liked fairness financing offered by Carlyle AlpInvest. The transaction strengthens the agency’s energy to again new investments whereas persevering with to 

The financing is designed to assist Picus’s long-term funding technique relatively than short-term fund growth. The capital will likely be used to deepen commitments to present portfolio corporations and allow new investments throughout levels, reinforcing Picus’s mannequin of backing founders early and staying with them by scale-up, IPO, and past.

The transaction follows the current shut of Picus Venture Fund II at its €250 million arduous cap, greater than doubling the scale of its predecessor. Collectively, the popular fairness financing and the bigger fund underscore rising institutional confidence in Picus’s strategy and efficiency. PJT Park Hill suggested on the transaction, with Simpson Thacher & Bartlett and Poellath appearing as authorized counsel for Picus, and Kirkland & Ellis advising Carlyle AlpInvest.

From founder-backed agency to international enterprise platform

Based in 2015 as a privately financed funding agency, Picus has steadily developed into a world enterprise capital platform with workplaces in Munich, New York, Berlin, London, and Bangalore. From the outset, the agency positioned itself as an early accomplice to entrepreneurs, typically turning into the primary institutional investor and remaining carefully concerned as corporations scale.

Since its inception, the agency has generated an annual inner fee of return of greater than 40%, serving to cement its fame as a high-conviction, founder-aligned investor. The partnership with Carlyle AlpInvest represents a step towards additional institutionalising this mannequin whereas preserving its entrepreneurial roots.

Portfolio of investments 

Picus Capital’s portfolio spans a broad array of high-growth know-how corporations throughout greater than 20 international locations: 

• Personio – HR and payroll software program for small and mid-sized companies throughout Europe.
• Enpal – Residential photo voltaic and clear vitality options with a subscription-based mannequin.
• Kin Insurance coverage – Digital-first house insurance coverage platform utilizing data-driven underwriting.
• Deel – World payroll and compliance platform for distributed workforces.
• FINN – Subscription-based automobile possession platform for versatile mobility.
• Enode – Power connectivity platform linking EVs, batteries, and renewables.

An extended-term give attention to category-defining know-how

Picus invests from pre-seed by later development levels through its Picus Enterprise Fund technique, with a give attention to technology-driven sectors shaping the following decade. Its core areas embrace vitality and local weather, fintech, enterprise infrastructure, cybersecurity, healthcare, enterprise functions, and rising digital platforms.

A defining characteristic of Picus’s strategy is the suggestions loop between its early-stage and development investments. Insights gained from scaling corporations inform earlier bets, permitting the agency to identify patterns and again potential class leaders sooner. 

With extra capital from Carlyle AlpInvest, Picus is best positioned to speed up this technique globally, supporting founders over longer time horizons whereas navigating more and more capital-intensive development paths.

“We’re happy to announce the closing of this transaction with Carlyle AlpInvest, who will function a strategic accomplice to Picus. This answer will present versatile financing to assist the expansion of our present portfolio, whereas enabling us to additional drive the following chapter of development throughout these corporations and broaden funding exercise throughout our platform,” mentioned Raphael Mukomilow, Accomplice and Head of Progress Investments at Picus Capital. “We view this transaction as the start of a significant, long-term partnership with Carlyle AlpInvest and stay up for deepening our engagement as we scale with the backing of a top-tier institutional accomplice.”

“Carlyle AlpInvest’s partnership underscores the energy, resilience and potential of our portfolio and positions us to speed up development throughout our funding platform,” mentioned Robin Godenrath, Managing Accomplice & Founder at Picus Capital. “Partnering with Carlyle AlpInvest permits us to proceed supporting our present portfolio corporations and their visionary founders as they scale, whereas advancing our mission to put money into new innovation leaders and ship robust risk-adjusted returns throughout all levels.”

“Picus has assembled a extremely diversified portfolio of category-defining corporations, and the agency’s sustained efficiency and spectacular momentum made this an particularly engaging partnership for us,” mentioned Michael Hacker, World Head of Portfolio Finance at Carlyle AlpInvest. “We have now had the distinctive alternative to construct our relationship with Picus over time, giving us deep conviction in each the standard of the portfolio immediately and the technique driving its continued success. Carlyle AlpInvest is dedicated to offering versatile, strategic capital to main platforms, and we’re excited to assist Picus because it advances its subsequent part of development.”