Verdane closes Edda III past target at €1.1 billion

Verdane closes Edda III past target at €1.1 billion, bringing the firm’s total funds closed in the last six months to €2.2 billion.

Verdane, the European specialist growth investment firm, has announced the successful final close of Verdane Edda III at €1.1 billion, significantly past its target and double the size of its predecessor fund, Edda II. This follows the successful final close of Freya XI at €1.1bn in September 2023.

Edda III includes commitments from private and public pension funds, leading global university endowments, foundations, insurance companies and family offices. 40% of Edda III commitments come from non-profit organisations. Verdane’s LP base is increasingly international, with 25% of commitments to Edda III coming from US investors. The fund also attracted strong support from Verdane’s loyal existing investor base: 68% of LPs from Verdane’s first fund established in 2003 continue to back current Verdane funds.

Verdane funds partner with ambitious growth companies that help digitalise and decarbonise the European economies. Current holdings within the Edda series of funds include CAIA Cosmetics, one of Northern Europe’s fastest-growing beauty brands; Evondos, the leader in automated medicine dispensing services for elderly home care clients, and Hornetsecurity, a market leader providing cloud-based cybersecurity services to business customers worldwide.

Verdane has an unrivalled market position with a deep ecosystem built over two decades, well over one hundred companies supported and an outstanding track record. The Verdane platform includes a proven value-creation engine, deep sector expertise, a benchmarking engine with over 100 million data points and an unparalleled ecosystem of 600+ CXOs. Verdane’s portfolio companies are further supported by Elevate, Verdane’s in-house team of operational experts. With a team of more than 140 skilled professionals, Verdane’s local presence in core European markets enables proprietary access to the region’s best technology companies. 

Rede Partners is proud to have partnered once again with Verdane on this successful fundraise, having worked with the Verdane team since 2016 across the Freya, Edda and Idun series of funds.