The fund size of Axcel VI represents an increase of more than 30% compared to its predecessor fund and, despite challenging market conditions, reached its hard cap of EUR 800 million, attracting leading institutional investors in the Nordics and across Europe. Axcel is equally pleased with the continued strong support it received from existing investors representing approximately 65% of the total commitments, as it is to welcome the many new investors.
As a result of its solid investment pipeline, Axcel VI has already completed six investments, which have seen strong, early momentum and a significant value increase.
Christian Schmidt-Jacobsen, Managing Partner at Axcel: “We are very pleased with the support we have received from a high-quality investor base and that we have raised the biggest Axcel fund to date despite the challenging market conditions in the wake of the Covid-19 pandemic. The Axcel team is highly confident in the opportunities we see in the Nordic market, and we look forward to working with our partners through the life of Axcel VI.”
Axcel VI will continue the firm’s strategy of developing strong companies in a responsible way, leveraging its extensive experience and network in the Nordic market. Axcel creates lasting transformations by investing its passion, expertise, and capital in companies with potential for real, positive impact. With a long-standing commitment to sustainability, which is deeply integrated in its value creation framework, Axcel looks forward to continuing to build strong Nordic businesses that are well positioned for future success.
MVision Private Equity Advisers Limited, based in London, served as strategic fundraising adviser for Axcel and Clifford Chance LLP and Plesner served as legal counsels to Axcel.