Asset Management

What’s New In Investments, Funds? – Kreos, BlackRock

Editorial Staff 20 October 2023

What’s New In Investments, Funds? – Kreos, BlackRock

The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Kreos Capital, BlackRock
Kreos Capital, a provider of growth and venture debt financing to companies in the technology and healthcare industries (recently acquired by BlackRock) has held a final close of Kreos Capital VII.

The closing was completed with commitments from over 30 institutional investors, including banks, sovereign wealth funds, leading public and private pension funds, insurance companies, fund of funds, foundations and family offices from more than 13 countries globally. The final closing amount of Kreos VII is €1.25 billion ($1.32 billion). The fund will continue Kreos’ investment strategy of providing loans to high-growth companies across EMEA, with a particular focus on the technology and healthcare sectors. 

Consistent with prior funds, Kreos VII will target investments in companies at every stage of their growth life cycle and can make investments from €2 million and scaling €100 million. 

The fund seeks to deliver consistent risk-adjusted returns through a blend of contractual debt returns, and yield enhancement upside, while minimising risk through amortisation, portfolio diversification, senior security, long cash runways and focusing on businesses with underlying profitability and positive unit economics. 

“We are very grateful for the continued support from our existing Limited Partner investors and those new investors partnering with us for the first time. The successful closing of Kreos VII, and previously announced acquisition by BlackRock, is a strong endorsement of both our asset class and investment strategy in the current market environment,” Marten Vading, managing director of BlackRock EMEA venture and growth lending, said.

“Kreos VII further consolidates our market position and allows for significant scalability with portfolio companies as they grow and mature during their life cycle journey,” Vading, managing director of BlackRock EMEA venture and growth lending, said.

BlackRock completed its acquisition of Kreos in August 2023. Formerly known as Kreos Capital, the BlackRock venture and growth lending team has invested more than €5.5 billion in over 760 transactions across 20 jurisdictions. 

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes