French growth equity specialist NextStage has raised €61m at the first closing of its latest fund, Champion Small Cap II.
The firm is aiming to raise €120m, and has reached the halfway mark less than six months after launch.
The fund raising effort has been concentrated on the home market, and has received commitments from a number of institutional investors and family offices, including Groupe Artémis, the financial holding of Francois Pinault, CDC (Caisse des Depots et Consignations) and OFI Asset Management.
