SWEN Capital Partners Raises €112M for Third Mezzanine Debt Fund

SWEN Capital Partners closed its third vintage mezzanine debt fund at €112M (~$116.1M), 20% higher than the second investment vehicle in its mezzanine debt series.

The French private markets investor's SWEN Mezz Flex 3 generated support from over a dozen institutional investors, including new and existing backers of the firm. The minimum investment size in the fund was €1M (~$1M).

The fund targets small and medium-sized enterprises involved in the areas of production and services for tomorrow, health and well-being, and technology. It follows a hybrid mezzanine-equity approach in deploying capital, allocating €5M (~$5.2M) and €10M (~$10.4M) for every investment.

Launched at the end of 2022, the fund has already completed 12 investments and one divestment. It is targeting 20 holdings and has so far built an initial portfolio that includes street lighting and street furniture company Agora Makers, roof waterproofing business Alpha Group and pharmaceutical laboratory Mitem Pharma.

With more than 15 years of experience, SWEN Capital has built a relationship with roughly 150 institutional clients, according to its website. Across 50 transactions, it has provided more than €200M (~$207.3M) in total mezzanine financing.