Investment firm IK Partners successfully secures €2 billion for its fourth small cap investment fund.
IK Partners Announces Successful Close of IK Small Cap IV Fund
IK Partners, a leading European private equity firm, has successfully closed its IK Small Cap IV Fund with €2 billion in commitments. The fund, which reached its hard cap within six months, is a testament to the strong investor demand and confidence in IK's investment approach [1][3].
The IK Small Cap IV Fund targets growing businesses primarily in the Business Services, Healthcare, Consumer, and Industrials sectors across Europe [1][2]. The fund focuses on companies with enterprise values between €80 million and €200 million but also includes a dedicated €600 million Development Capital pool for investments in smaller companies valued between €20 million and €80 million [1][3][4].
Since the inception of IK’s Small Cap strategy in 2015, IK has made 56 transactions across four funds, with realized proceeds of over €2.1 billion from exited investments, reflecting a strong money multiple of 3.1x on 25 exited investments [1][2]. As of mid-2025, IK Small Cap IV has already made its first investment [1][2].
The fund's capital base is broadly diversified geographically: approximately 71% from EMEA, 18% from North America, and 11% from Asia. Moreover, 80% of the capital for IK SC IV was raised from existing investors, illustrating strong loyalty and investor confidence [1][2][3].
"Investor appetite for this strategy continues to grow, reflecting the strength of our local sourcing model and the compelling opportunities in this segment," said Mads Ryum Larsen, Managing Partner and Head of Investor Relations at IK Partners [1].
"We are pleased to announce the close of our fourth Small Cap fund, building on IK's long-standing expertise in the lower mid-market," added Christopher Masek, CEO of IK Partners [1].
IK's multi-strategy offering has allowed the firm to remain resilient in an ever-evolving landscape, offering more choice and opportunity than ever before [2]. The firm has closed over €6 billion in commitments since 2024, including the €505 million IK Strategic Opportunities I Fund in April 2024 and the €3.3 billion IK X Fund in April 2025 [1][5].
IK looks forward to deploying IK Small Cap Fund IV at a disciplined pace, continuing its established approach of supporting mid-market companies with tailored capital solutions and aiming to scale businesses through active ownership and operational improvements [1][3].
Key Statistics:
| Statistic | Detail | |--------------------------------------|---------------------------------| | Total commitments | €2.0 billion | | Fundraise duration | <6 months | | Target enterprise value (core) | €80 million – €200 million | | Development Capital pool | €600 million (for €20m - €80m) | | Sectors | Business Services, Healthcare, Consumer, Industrials | | Transactions since 2015 | 56 total across four funds | | Exited investments proceeds | >€2.1 billion | | Money multiple on exited investments | 3.1x | | Geographic capital sources | 71% EMEA, 18% North America, 11% Asia | | Existing investors’ share | 80% |
[1] IK Partners Press Release, July 2025. [2] IK Partners Website, accessed July 2025. [3] PitchBook Data, Inc., accessed July 2025. [4] IK Small Cap IV Fund Investment Memorandum, June 2025. [5] IK Partners Press Release, April 2024 and April 2025.
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