UK-based firm Exponent has reached a £900 million (about $1.2 billion) close on its fifth flagship fund—the new vehicle beat its initial target by 20%, representing an increase on its predecessor.
The latest mid-market focused fund launched in early 2023, around four years after Fund IV recorded a £732 million close.
So far, Fund V has invested in four companies: pharmaceutical group Chanelle Pharma; data center design specialist Ethos Engineering; private healthcare operator Kingsbridge Healthcare Group; and technology consultancy Hippo Digital.
According to PitchBook’s Q1 2025 European PE Breakdown, mid-market fundraising had a strong start to the year, with fundraising 40% of the total capital raised last year in Q1 alone. Over the same period, European GPs secured €23.7 billion across some 22 funds.
Exponent was advised on the fundraise by law firms Rede Partners and Debevoise & Plimpton.
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