News & Analysis

Cipio collects €61m on its way to €200m for sixth fund

The direct secondaries firm, which has begun fundraising for Cipio Partners Fund VI in the US, recently purchased 10 venture investments from 3i Group.

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Cipio Partners has held a first close on €61 million for its sixth fund, which is targeting €200 million.

Cipio, a private equity direct secondaries investor, includes family offices and institutions among its investor base.

“The first close … allows Cipio to benefit from the currently extraordinary deal flow and investment opportunities in the secondary direct market,” Hans-Dieter Koch, managing partner with Cipio, said in a statement.

Cipio has begun to fundraise for Cipio Partners Fund VI in the US, the firm said.

Cipio, which has offices in Munich, Luxembourg and San Jose, purchased 10 venture capital investments from London-listed private equity firm 3i Group in April. A source with knowledge of the transaction said the deal was worth between €17 million and €19 million.

The firm, founded in 2003, acquired venture assets from DaimlerChrysler Venture, which sold its entire portfolio to Cipio in 2005. Siemens, the German electronics group, also sold a portfolio of venture investments to Cipio in 2007 for an undisclosed amount.