EQT Plans $500M+ Venture Continuation Fund

EQT is preparing a venture continuation fund to transfer a selection of assets from its first venture capital vehicle into a new fund, as secondary transactions gain traction in venture markets. EQT plans to move five to 10 investments from EQT Ventures I, which launched in 2016 and raised €505m.

The firm expects the continuation fund to raise at least $500m, with Jefferies advising the process. One expected rolled asset is Handshake, a US-based human resources software company first backed by EQT in 2018. The final fund size will depend on negotiations with buyers and how many existing investors choose to roll their stakes.