Fund II will provide €3–15 million in non-dilutive financing to post-Series A technology companies, backed by the EIF, PFR Ventures and a growing base of institutional investors.
CEE investors Orbit Capital have announced the second closing of Growth Debt Fund II at €107 million, surpassing its initial target.
To date, Orbit Capital has supported over 20 high-growth companies through its venture debt platforms, providing non-dilutive growth capital to some of the region’s most promising scale-ups. As companies mature, they need smart and flexible financing that preserves equity, notes Radovan Nesrsta, Partner at Orbit Capital. We provide the strategic runway they need to scale efficiently.
Fund II targets post-Series A technology companies with at least €3 million in revenue and a minimum 30 per cent YoY growth. With tickets ranging from €3 million to €15 million, the capital supports international expansion, acquisitions, working capital, and capital expenditures.
The fund’s investor base reflects a synergy between major European institutions and individual investors. Anchor LPs include the European Investment Fund (EIF), Rentea, Česká spořitelna/Erste, and Conseq. The inclusion of Rentea, a Czech private pension fund, marks a significant structural shift in the region, as pension funds begin allocating capital to venture debt for the first time.
The closing also includes an allocation from PFR Ventures, the largest fund investor in the CEE region. This marks their inaugural allocation into venture debt as an asset class.
“At growth stages, access to debt financing can significantly accelerate expansion while limiting dilution for founders, said Bartłomiej Samsonowicz, Investment Director at PFR Ventures.
“Orbit Capital’s track record and deep understanding of the regional technology ecosystem make them a strong partner in supporting the next generation of CEE technology leaders.”
The fund is also backed by a diversified group of private investors from across Europe, including Czechia, Slovakia, Poland, and Slovenia, as well as Western European markets, underscoring growing investor confidence in venture debt across the CEE innovation ecosystem.
“We decided to invest as there are few players in the CEE who are as experienced as Orbit in venture debt. Apart from that, we see potential in venture debt as a financial product as the role of startups and scaleups will grow in all CEE economies,” said Jaroslav Baier, Partner at Havel & Partners.
Lukas Macko, General Partner at Orbit Capital, adds:
“Our investment track record shows that founders value a partner who understands the nuances of high-growth tech. We aren’t just providing capital; we’re providing a sophisticated tool that helps entrepreneurs maintain control as they hit their next major milestones.”
Fund II has already begun deploying capital, with 5 investments so far, including Czech startups Sloneek and IAG, as well as Polish startup Talkin’ Things, further strengthening Orbit Capital’s portfolio of high-growth technology companies across the region.