DeepTech investor Jolt Capital reopens fund to add $106m

By Gloria Methri

Following the reopening of its fourth fund early this year, Jolt Capital, a private equity firm investing in European DeepTech companies, has completed its €100 million extension. The transaction involved existing investors as well as newcomers, including a European sovereign wealth fund and several large family offices.

After a first final closing of €271 million achieved in September 2021, which exceeded the target of €250 million, the team decided to reopen the fund to offer increased returns to its investors.

Jolt Capital has had a stronger team of partners since 2022 and is benefiting from growing interest in DeepTech. This is due to the global and sovereign issues it addresses (energy, health, climate, security) and the positive contribution of most of these technological solutions towards reducing global warming.

Jolt Capital IV has already made six investments in high-growth European DeepTech companies. The latest extension brings the fund’s total amount to €371 million. The fund’s objective is to invest in a dozen future world leaders by the end of 2024, with tickets ranging from €10 million to €50 million.

Since its inception in 2011, Jolt Capital has found a unique spot in Europe to finance the growth of B2B DeepTech companies. Thanks to this extension, Jolt Capital’s current assets under management amount to €550 million.

Jean Schmitt, Managing Partner and Chairman of Jolt Capital said, “We are strongly focused on our goal to invest in the very best software and industrial DeepTech scaleups in Europe, despite a difficult global economic context. Europe has been able to nurture an amazing pool of innovative mid-sized companies ranging from €10 million to €50 million in revenue and must now learn to fund their scaling. Our conviction remains the same: we need more DeepTech funds in Europe, capable of raising amounts exceeding one billion euros, to finance future industrial leaders that our continent desperately needs”.

Reach Capital served as placement agent for Jolt Capital IV, and Goodwin served as legal advisor.