Key Takeaways
- • EQT Ventures I, a €566m debut venture fund, has completed a multi-asset continuation vehicle (CV) that provides liquidity to its limited partners.
- • HarbourVest led the new CV, with the fund's LPs including AP Fonden 4, Danica Pension, Ilmarinen Mutual Pension Insurance Company, Investor AB, Danish Export and Investment Fund, European Investment Fund and Tesi.
- • The transaction is EQT's first multi-asset CV, marking a structured secondary solution for venture-stage holdings.
Summary
According to PEI Private Equity, EQT has generated liquidity for limited partners in EQT Ventures I, its debut venture fund with commitments of €566m, through a continuation vehicle. The transaction is the firm's first multi-asset CV, allowing LPs in the fund to realize value from their stakes while the underlying assets continue to be held.
HarbourVest led the new CV. The limited partners in EQT Ventures I that participated in the transaction include AP Fonden 4, Danica Pension, Ilmarinen Mutual Pension Insurance Company, Investor AB, Danish Export and Investment Fund, European Investment Fund and Tesi, reflecting a broad mix of Nordic pension, sovereign-linked and institutional investors.
The deal illustrates the growing use of continuation vehicles in venture secondaries, where GPs offer LPs an option to take liquidity rather than wait for a full exit. Full terms of pricing and the specific portfolio companies included were not detailed in the available source material.
HarbourVest led the new CV. The limited partners in EQT Ventures I that participated in the transaction include AP Fonden 4, Danica Pension, Ilmarinen Mutual Pension Insurance Company, Investor AB, Danish Export and Investment Fund, European Investment Fund and Tesi, reflecting a broad mix of Nordic pension, sovereign-linked and institutional investors.
The deal illustrates the growing use of continuation vehicles in venture secondaries, where GPs offer LPs an option to take liquidity rather than wait for a full exit. Full terms of pricing and the specific portfolio companies included were not detailed in the available source material.
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