Picus Capital Management announces final close of oversubscribed Picus Venture Fund II at hard cap of €250M

  • Picus Capital Management announces the final closing of Picus Venture Fund II at its hard cap of €250M that was held earlier this year
  • The Fund saw significant investor demand across new & existing investors and closed at more than double the size of its predecessor, Picus Venture Fund I
  • Picus Venture Fund II backers include tier one global investors such as Wilshire, a large European insurer, in addition to previously disclosed anchor investor M&G Investments, one of the UK’s largest asset managers, investing via Titanbay 
  • Additional partners include global Fund of Funds, international corporations, as well as significant European family offices with deep-rooted entrepreneurial pedigree and prominent Tech founders
  • Picus Venture Fund II will predominantly invest in the group’s most promising portfolio winners, leveraging unique access and information advantages derived from Picus Capital’s early stage investments to achieve outsized returns in a de-risked set-up

 

Munich, May 23, 2025 – Despite a wider fundraising slowdown, global venture capital firm, Picus Capital Management, announces the final closing of Picus Venture Fund II, held earlier this year, at its €250M hard cap. The fund was oversubscribed following significant investor demand. This latest vintage is c. 2.5x the size of Picus’ inaugural fund, Picus Venture Fund I, which launched in 2021, reaffirming the firm’s position as a leading global venture investor managing in excess of €1.5B assets across the group.

 

Picus Venture Fund II will continue to employ the firm’s unique strategy of identifying and doubling down on emerging winners, leveraging insight and access advantages derived from the early-stage, privately-financed portfolio as well as selective new deals that also take advantage of the firm’s early-stage screening capabilities. With a global presence, spread across several offices worldwide, Picus Capital continues to back the most ambitious entrepreneurs at the earliest stages whilst the Venture Fund strategy bolsters these capabilities by enabling the group to support these most promising portfolio companies and their founders throughout each stage of their growth journey. 

 

This latest fund sees Picus partnering with renowned institutional investors such as M&G Investments, Wilshire, a large European insurer, as well as several global Fund of Funds, international corporations, in addition to significant European family offices and prominent Tech founders. Picus Venture Fund II is the second vintage of the double down strategy following the successful launch of Fund I in 2021, a ~€100M fund that was raised amongst a closed network of investors and was oversubscribed in less than 7 months. 

 

Raphael Mukomilow, Partner and Head of Growth, says: “We are really excited to share this news which marks a significant milestone for Picus, closing Venture Fund II at our hard cap. In a highly competitive and volatile market, this reflects the strength of our focused strategy and our ability to deliver compelling, risk-adjusted returns via our differentiated approach.

 

We’re also pleased to have already made the first investments from the fund into global, highly disruptive technology companies that align with our vision of backing purpose-driven innovation. Additionally, our strategic collaboration with partners such as M&G Investments further underline our commitment to supporting the next generation of technology companies building for both scale and impact.”

 

Robin Godenrath, Founding Partner and Managing Director, adds: “With the launch of Picus Venture Fund II, we are excited to deepen our commitment to the visionary entrepreneurs we’ve partnered with since inception. This new fund enables us to continue to provide even more comprehensive support at the most pivotal inflection points of their growth journeys.

 

Since founding Picus Capital in 2015, our ambition has always been to serve as long-term sparring partners to exceptional founders—those building transformative companies with the potential for outsized impact. The successful closing of Fund II is a testament to that mission and reinforces our dedication to this approach. Today, we are proud to back over 200 companies, not just with capital, but with the strategic insights, operational expertise, and global network required to help them realize their full potential.”

 

About Picus Capital and Picus Capital Management
Picus Capital is an international venture capital firm headquartered in Munich with offices in New York, Berlin, London, Bangalore and Madrid. Picus Capital Management is the group’s fund management unit. Picus Capital partners with entrepreneurs from pre-Seed through to later growth stages via Picus Capital Management’s Venture Fund strategy. The firm focuses on technology companies in financial services, HR, energy & climate, healthcare, enterprise software & infrastructure, techbio, cybersecurity and AI applications. As an entrepreneurial sparring partner, Picus maintains a long-term investment philosophy and supports founders from ideation phase to IPO and beyond. 

 

Picus Capital, the privately financed investment firm, is dedicated to backing global, leading tech companies at the earliest stages and has been the first investor in multiple unicorns such as Personio (last valued at 8.5B USD) and Enpal (last valued at 2.2B EUR), generating an annual IRR north of 45% since inception in 2015.

 

For further information please visit www.picuscap.com or via LinkedIn.

 

Press contact:

Picus Capital Press Office

communications@picuscap.com

+496643052263

Disclaimer: Wilshire is a passive investor in the fund and was not involved in the preparation, review, or approval of this communication. Any reference to Wilshire does not constitute an endorsement of the fund, its manager, or any related materials. Wilshire has not received and will not receive any compensation in connection with the use of its name in this context.


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