Acurio Ventures has closed its first dedicated secondaries vehicle, raising €115 million. The vehicle, Acurio Secondaries I FCR, brings the firm’s total assets under management to more than €450 million across five investment vehicles, as Vestbee was informed.
- Founded by Ander Michelena, Kate Cornell, Diego Recondo, and Hugo Fernández-Mardomingo, Acurio Ventures has invested in around 120 European startups and 20 venture capital funds.
- The firm has backed companies including Seedtag, Preply, Jobandtalent, Indexa Capital, Lingokids, and Refurbed. The new fund expands its focus beyond direct startup investments into liquidity opportunities within the broader European venture capital market.
- The fund will target mature VC funds, particularly those that are more than eight years into their investment cycles and have established portfolios with clear value drivers and potential exits expected within two to three years. Acurio is targeting net returns of at least two times invested capital, with internal rates of return above 25%.
- Acurio Secondaries I FCR has already committed around €45 million to investments. The firm said the portfolio has achieved a total value to paid-in capital (TVPI) of 1.75x, supported by discounts secured in secondary transactions and the performance of the underlying assets.
- The fund attracted commitments from both institutional and private investors, with around 30% of capital coming from institutional sources. Investors include a major US-based endowment acting as anchor investor, pension plans, more than 35 family offices, family wealth groups, and other private investors. Acurio Ventures has also committed more than €15 million to the fund.
