Debut growth debt fund launched by Atempo Growth to fuel European technology

• New player Atempo Growth announces the first close of its debut fund with commitments of over $200m USD.
• The first close was oversubscribed by investors with an anticipated second close in Q2 2022 to further increase the company’s footprint across Europe.
• The Fund will provide flexible growth capital to high growth tech-enabled companies across different sectors.

19 January, London: Pan-European growth debt platform, Atempo Growth (Atempo) has announced the launch of its debut fund, with commitments of over $200 million on the first close. The fund will target investments across Europe and is backed by European investors from across the continent including the European Investment Bank, Decalia, and Banco Santander.

Atempo has been created to invest in emerging innovators from across Europe, building on the momentum that exists in the European tech ecosystem. The co-founders, Luca Colciago, Jack Diamond and Matteo Avramov Giulivi have responded to an opportunity in the market with the investor interest in the first round of fundraising demonstrating the significance of the opportunity for a new fund in the growth debt space.

Atempo provides flexible growth capital to companies with minimal equity dilution that can be used to complement equity financing, support operational growth, finance acquisitions as well as other tailor-made use cases. Companies are able to leverage the firm’s experience and network whilst working with an agile team that adapts to their needs.

Atempo is a new venture debt platform which brings together a founding team which has provided capital to over 100 companies across a range of different sectors, having worked in the past with companies like Twisto and CurrencyCloud. The co-founders have worked closely together for several years and have experience spanning 20 years in the European growth debt space.

Atempo’s management enjoys full independence and autonomy, and its structure is built around agile decision making that allows the team to be responsive to the evolving needs of high-growth businesses. The co-founders benefit from the support of European investors with Banco Santander acting as an anchor investor for the debut fund.

Growth debt is increasingly becoming a go-to funding source for European innovators with the venture debt market increasing by 6 to 8 times between 2015 and 2020. The fund has been launched at a key time for European tech with record investments and growth in the sector. The team takes a bespoke approach to each investment based on the growth trajectory of the individual company and is committed to providing its portfolio with added value via a supportive ecosystem.

The fund is the team’s first as Atempo and will act as a launch pad for the company’s future. Following a successful initial close, the team has received significant interest from investors, with a second close anticipated for Q2 2022. The team is actively hiring across Europe and will look to increase headcount as they scale operations.

Luca Colciago, Co-founder of Atempo Growth, said:

“We are excited to announce the launch of our new fund Atempo Growth providing growth debt to European technology companies as they scale. Over the last decade, the European tech ecosystem has gone from strength to strength, and growth debt has played an important role. Tech companies are increasingly adopting this source of funding to complement equity. Our pan-European team is well positioned to support high growth companies, with over 30 years combined experience in the space. Myself, Jack and Matteo look forward to going back to the day job and supporting growth across the continent. We are thrilled to have, among others, the support of Santander and the European Investment Bank”