Aurica Capital, a Barcelona, Spain-based growth equity firm, raised €140m for its third growth equity fund.
In addition to a €74m commitment from Banc Sabadell, the firm has now received commitments from several institutional investors, including pension funds and insurance companies and multiple family offices. The fund has a target of €150m and a hard cap of €200m.
Aurica III specializes in investing – through significant stakes with control mechanisms – in Spain-based small to medium-sized companies with revenues over €30m and EBITDA of more than €5m.
To date, the fund has invested in two companies:
– Delta Tecnic, a maker of masterbatches for the cable and PVC industries; and
– Flex, a manufacturer of bedding products.
Led by Ivan Plaza, Principal, Aurica Capital originally started investing growth capital in 2000 making over 19 investments in its prior two investment periods and has fully exited 17 of these companies.