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evolutiq, a mid-sized investment management firm based in Cologne, Germany, has announced the first closing of its debut Search Fund vehicle, the evolutiq Search Capital I Fund. While the exact amount raised has not been disclosed, the fund aims to back approximately 40–50 SFs over the coming years and invest in around 25–30 European SMEs. Typical equity commitments will range from $500K to €1.5M per deal.
The evolutiq Search Capital team consists of four professionals dedicated to the SF space, led by Oliver Steinki and including Daniel Perthes, Gerrit Heidemanns, and Christopher Zeppenfeld. Although this is their first dedicated fund, evolutiq has been active in the SF and EtA space since 2019. They have supported around 30 searchers and participated in 8 acquisitions to date.
Among the searchers currently backed by evolutiq are Ayete Partners, Cneo Partners, and Preludio Partners in Spain; Cedo Capital in Poland; LDue Capital, Star First Capital and Peak35 Capital Partners in Italy; Matter Capital in Portugal; and Tinto Hill in Scotland, among others. Recent acquisitions include EZS Identtechnik in Germany, Link.it in Italy, and ProviSport in Spain.
As Oliver Steinki explained: “We are currently working on three deals we expect to close before the summer and are also about to realize our first exit in the next quarter. We are grateful and proud of what we’ve achieved so far, but even more excited and optimistic about what lies ahead.”
Legal & Tax Advisor: YPOG and Seitz & Partners
