Suma Capital, a private equity fund manager specialized in medium-sized companies and projects, and with a systematic strategy of responsible investment (impact and ESG), has closed its new fund: SC Growth Fund II, with €160 million in capital commitments, advised by Clifford Chance (legal) and Triago (fund placement). SC Growth Fund II is the firm's fourth fund after the Sustainable Infrastructure vehicles: SC Climate Fund I and II, and its predecessor SC Growth Fund I.
Suma Capital’s new fund was raised and oversubscribed during the challenging Covid-19 pandemic months. It is worth noting the confidence and support of investors of the previous fund, who decided to partner and participate in the new fund, together with a variety of new national and foreign institutional investors: 70% private and 30% public; 35% family offices together with 65% institutional; 40% of them international, from countries such as the United Kingdom, France and Switzerland.
SC Growth Fund II has already made three investments in high-growth companies: Implika Educacion (vocational training course platform), NPAW (SaaS video analytics software) and in a leading film distribution company in Spain, continuing Suma Capital´s strategy of supporting founding teams. SC Growth Fund II is expected to execute around 10 deals of between €10m and €20m of investment ticket, in companies from a wide variety of sectors and with a turnover of between €10m and €100m.
The very positive track record of its previous investments and the attractive investment opportunity in the Spanish lower mid-market, has led to an over-demand for this fund, and closing above the original target and above the initial hard cap. The strategy of the new fund will remain in line with investments made to date, with a focus on profitable, high-growth Spanish SMEs, to support founders committed to a dynamic and sustainable project, in which Suma Capital participates with both minority and majority equity investments.
With more than €500 million assets under management (AUM) and four funds, Suma Capital's team has been strengthened in recent months to reach more than twenty professionals.
Enrique Tombas, President and Founding Partner of Suma Capital, underlines that "the launch of SC Growth Fund II comes at a time when companies need a partner that brings responsible capital and experience in managing transformational and high-growth situations. We will continue the successful strategy of the predecesor fund, supporting dynamic and committed leaders, in order to join forces to build the future we believe in."
About Suma Capital:
Founded in 2007 and based in Barcelona, Suma Capital is a private equity fund manager with €500 million assets under management (AUM), focused on two distinct strategies: sustainable infrastructure investments, which fight climate change, and high-growth Spanish SME investments.
In all recent consecutive years, Suma Capital has obtained the ESG Annual Award for the “Best ESG Initiative”, awarded by the Spanish Private Equity Association (ASCRI). In addition, year after year, it has received the highest rating (A+) granted by the United Nations’ Principles for Responsible Investment (PRI), for its systematic work in the field of sustainability.