London’s Expedition Growth Capital raises €323 million Fund III to back bootstrapped European companies

Expedition Growth Capital, a London-based growth equity firm, has secured €323 million for its third fund, targeting European software companies. This significant investment signals continued interest in the European tech landscape, particularly for firms that have chosen a bootstrapped growth model over venture capital funding. The fund aims to support the scaling of promising software businesses across the continent. The fund saw oversubscription, completing the raise in just four months with more than half of the commitments coming from US investors. Expedition typically invests between €8.6 million and €21.5 million in each company. This capital will be deployed to support European software firms in scaling up their operations, with a focus on companies generating revenue and aiming for substantial growth. The impact of this fund is expected to be considerable, providing much-needed capital to European software companies. It specifically targets the scaling gap faced by revenue-generating firms, helping them expand their go-to-market strategies, make strategic hires, and achieve operational excellence. This initiative is particularly relevant in the context of increasing competition and the need for digital transformation.