The new vehicle focuses on small and mid-sized companies across technology, business services, and healthcare. It sits alongside Axcel's larger mid-market funds and widens the firm's coverage across Northern Europe. Most commitments came from returning LPs, including pension funds, funds of funds, foundations, and family offices. 'Investor interest in Axcel Elevate has exceeded our expectations, and we're grateful for the continued trust placed in our team,' said Christian Schmidt-Jacobsen, Co-Managing Partner at Axcel and Head of Elevate. Co-Managing Partner Christian Bamberger Bro added that the fund broadens Axcel's ability to cover the full market spectrum. Elevate follows Axcel VII, which closed oversubscribed at '1.3bn in 2023. The Elevate team will be led by Schmidt-Jacobsen, who will shift from Managing Partner to Partner with responsibility for the strategy during the firm's leadership transition in 2026, when Bamberger Bro becomes Managing Partner. Axcel has strengthened...
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