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Kreos Capital

GBDESEFRESNLNOFIDKATBECHIEITPTILFintechB2B SaaSEnterpriseCybersecurityAI/MLHealthtechBio/PharmaDeep Tech

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Investment thesis

Kreos Capital is Europe's leading provider of growth and venture debt financing to high-growth companies in the technology and healthcare sectors across Europe and Israel. Since pioneering the growth debt model in 1998, Kreos has committed in excess of €7.0 billion across 830+ transactions to more than 640 pan-European and Israeli companies, investing more than €800m per year. The firm provides flexible, non-dilutive debt facilities — without financial covenants, board seats, or personal guarantees — tailored to each company's unique needs, covering every stage of the growth lifecycle from early-stage development through late-stage, pre-IPO, and publicly listed growth funding. Kreos takes both a credit and an equity view of each financing situation, partnering closely with management teams and equity sponsors across the full economic cycle. In technology, the firm invests across fintech, enterprise software, cybersecurity, semiconductors, digital marketing, and AI; in healthcare, it backs drug and treatment development, medical products and devices, and healthtech. Acquired by BlackRock in August 2023, Kreos continues to operate its proven Growth Debt strategy from its offices in London, Stockholm, and Tel Aviv.

Notable quotes

As a pioneer of private debt solutions for high growth technology and healthcare companies in Europe and Israel, Kreos is now taking the next step by accelerating the business and partnering with BlackRock.

Mårten Vading · BlackRock Press Release – Acquisition Announcement · 2023-06-08

Kreos believes that each situation and company is unique and we provide tailored, risk-based financing, where we focus on value-drivers in the business.

Ross Ahlgren · Kreos Capital VI Launch Press Release · 2019-02-06

Our extensive experience from a broad range of transactions through three market cycles combined with our structuring flexibility and funding capability, enable Kreos to act as a stable one-stop-shop partner for complementary growth capital structured as non-dilutive debt facilities.

Mårten Vading · Kreos Capital VI Launch Press Release · 2019-02-06

Recent investments

CompanyRoundSizeDate
McMaklerVenture Debt / Series D-II2025-06-25
Akebia TherapeuticsVenture Debt$55m2024-01-29
QoverVenture Debt2023-07-01
CrescendoSeries B$32m2023-07-25
GoCardlessVenture Debt
SolarEdgeVenture Debt
Delivery HeroVenture Debt
RiskifiedVenture Debt
VOI TechnologyVenture Debt
BioCatchVenture Debt

Frequent co-investors

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