Aurica Search Fund, the co-investment platform with entrepreneurs for search and acquisition operations managed by Aurica Capital, has announced the closing of its first fund, Aurica Search Fund I, with an oversubscription that brings total commitments to €50 million. With this closing, the fund becomes one of the largest investment vehicles in the search fund segment in Europe and the first European search fund launched by a private equity firm.
Aurica Search Fund I aims to invest in 15 companies, primarily European SMEs with profitable business models, in growth stages and with recurring cash flow generation. The fund will prioritize sectors with structural tailwinds, including services, healthcare, technology, and education.
The fund has already closed four investments, the most recent in November, participating in the acquisition of 80% of Hispania, a Spanish language school for foreigners, alongside other search fund ecosystem investors. The other portfolio companies are CSP, a UK-based company specializing in security and traffic management at large sporting events; Alfavet, a German company focused on manufacturing and marketing nutraceuticals for pets; and SOS Software Service, a German software distributor.
Following the search fund model, the fund will support around 20 entrepreneurs, known as “searchers,” providing them with funding to focus exclusively on identifying and acquiring a company, after which they will assume the role of CEO.
Ricardo Velilla, Partner at Aurica Capital and Chief Investment Officer of Aurica Search Fund, commented:
"Europe, and particularly Spain, offers excellent opportunities for the search fund model. We are identifying numerous SMEs with great potential that require orderly succession, professionalized management, and the right talent to lead them. With this first fund, our goal is to bring Aurica’s investment philosophy to smaller companies: profitable businesses, in growth stages, with strong cash flow generation."
Aurica Search Fund takes a hands-on investment approach, actively participating on boards and supporting new CEOs in professionalizing and scaling the companies.
The fund team is composed of Ricardo Velilla and analysts Héctor Pont and Laura Ribas. Aurica Search Fund I is classified as an Article 8 fund under SFDR, reflecting Aurica Capital’s commitment to sustainability and the integration of ESG criteria throughout the investment cycle
About Aurica Capital
Aurica Capital is an independent private equity firm investing in the expansion/growth capital segment, recognized for taking minority stakes in leading middle-market companies with strong development and international growth potential. With over 20 years of experience, the firm specializes in Private Equity, Search Funds, and fund selection, managing over €600 million in assets. Aurica Capital Desarrollo S.G.E.I.C., S.A. is registered with the Spanish CNMV as a private equity management company (No. 104)
For moe info, please visit: https://www.auricacapital.com/
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