Next Wave Partners, LLP, a London UK-based private equity fund manager focused on investing growth capital in the Northern European SME market, closed its second fund, at £27m.
The new commitments were raised from existing investors following on, institutional investors, large family offices and high net worth individuals.
As a result of the closing, this new vehicle will work alongside the existing fund, raised in 2007 bringing the total amount under management from £24m to £51m.
Next Wave intends to continue its strategy of making £2-10m equity investments in profitable, growing companies with a sector focus on business, consumer and environmental services.
Founded in 2002 by Jonathan Brod, Next Wave’s portfolio includes Petainer, Chapco, SPA Future Thinking, ITI, and Crendo.