Austrian private equity firm AG Capital is pleased to announce the first closing of the Austrian Growth Capital Fund ("AGCF"). With capital commitments of 140 million euros, the fund is currently already well above the initial target threshold for the first closing of 75 million euros. AG Capital was founded in Vienna at the beginning of this year by an experienced team around the managing directors Karl Lankmayr and Daniel Jennewein. AGCF provides entrepreneurial equity to SMEs in Austria and neighbouring countries, taking majority and minority stakes.
"We are excited that with the first closing of the AGCF we have now reached an important milestone in this unique project. We can now start to support fast growing SMEs in Austria and neighbouring countries by providing much needed equity and know-how for growth and innovation. We are convinced that the AGCF can make an important contribution to strengthening Austria as a business location and to closing the existing financing gap in the SME segment," says Karl Lankmayr.
Daniel Jennewein: "With over 70 years of combined experience in the Austrian and German SME sector, we as a team are ideally positioned to ensure the future success of our portfolio companies. We take our entrepreneurial responsibility seriously and live up to it by systematically considering ESG criteria throughout our investment process. For us, successful development of a company goes hand in hand with sustainable behaviour.”
The current capital commitments for AGCF come from a broad base of institutional investors led by Raiffeisen Bank International, which has supported the fund as anchor investor and together with C-Quadrat Investment Group as initiator from its beginning. The European Investment Fund (EIF) and Raiffeisen Holding Niederösterreich-Wien also joined as major anchor investors for AGCF. Other investors include banks, insurance companies, pension and employee provision funds, family offices, as well as AG Capital's founding partners, which include the managing directors and CQ Investment Group.
AG Capital is an independent private equity company based in Vienna. As an entrepreneurial partner, AG Capital provides buy-out and growth capital of up to €20 million per investment to innovative small and medium-sized companies in Austria and neighbouring countries. AG Capital's target companies have revenues starting at around 10 million euros and a sustainable profitable business model with further development potential.
AG Capital takes minority and majority stakes and supports its portfolio companies to grow sustainably and profitably, both organically and through acquisitions. AG Capital achieves this goal in a trustful partnership together with the co-owners and management teams of its investments. AG Capital acts in a long-term and responsible manner and is therefore consistently applying ESG considerations as an essential part of its investment strategy.
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