– IK Partners has closed its fourth Small Cap fund, IK Small Cap IV (IK SC IV), at its hard cap with total commitments of €2.0 billion
– The fund surpasses its predecessor, IK Small Cap III, which raised €1.2 billion in 2021
– IK SC IV was oversubscribed and closed in less than six months after launch
Strong demand came from institutional investors across EMEA (71%), North America (18%), and Asia (11%)
– 80% of the capital raised came from existing investors across the IK Platform, indicating sustained confidence
– The fund has already made its first investment
– Investment strategy remains focused on growing businesses in Business Services, Healthcare, Consumer, and Industrials
– Targets companies with enterprise values between €80 million and €200 million
– Includes a dedicated €600 million Development Capital pool for smaller companies valued between €20 million and €80 million
– IK launched its Small Cap strategy in 2015 and has completed 56 transactions across four funds
– The strategy has delivered over €2.1 billion in proceeds, repesenting 128% of invested capital and a 3.1x money multiple on 25 exits
– IK has seen record deal activity in 2024 and 2025, investing in 21 new companies and exiting 11
– Over €6 billion in total fund commitments raised during the same period, including €505 million for the IK Strategic Opportunities I Fund in April 2024 and €3.3 billion for the IK X Fund in April 2025
– Christopher Masek, CEO of IK Partners, emphasized strong investor appetite and the firm’s local sourcing model
– Kristian Kemppinen, Managing Partner and Head of Small Cap Strategy, noted continued opportunity in the lower mid-market
– Mads Ryum Larsen, Managing Partner and Head of Investor Relations, thanked investors and highlighted this as IK’s largest Small Cap fund to date
