Acurio, Europe’s VC fund focused on secondaries, closed a €115M fund, surpassing its target

Acurio Ventures, a Bilbao-based firm, has successfully closed its Acurio Secondaries I FCR fund at €115 million, surpassing its initial €100 million target. This achievement comes during what partners describe as the most challenging venture capital fundraising environment in 25 years. The fund focuses on purchasing discounted stakes in mature European VC funds, specifically targeting deals under €20 million—a niche often overlooked by large US-based secondary firms.

The fund aims to address the liquidity challenges currently facing the European VC market, where limited exits have made it difficult for fund managers to return capital to limited partners. By purchasing 10% to 20% stakes in funds that are at least eight years old, Acurio provides liquidity to managers and investors at a discount. The firm has already committed nearly €45 million from the new fund and reports a TVPI of 1.75.

This successful raise, backed by private investors including a major US endowment, pension plans, and over 35 family offices, brings Acurio's total assets under management to over €450 million. The firm's dual strategy of direct startup investment and fund secondaries allows it to leverage deep market insights to navigate the evolving private markets landscape.

(Source：Techfundingnews)