Munich-based venture capital firm Picus Capital announced the closing of a €150 million preferred equity financing transaction provided by global private markets manager Carlyle AlpInvest.
This transaction injects the VC firm with significant capital, enabling it to pursue new investments while continuing to scale and support its existing portfolio of almost 200 companies, including unicorns such as Personio and Enpal.
Robin Godenrath, Managing Partner & founder at Picus Capital, said, “Carlyle AlpInvest’s partnership underscores the strength, resilience and potential of our portfolio and positions us to accelerate growth across our investment platform.
“Partnering with Carlyle AlpInvest allows us to continue supporting our existing portfolio companies and their visionary founders as they scale, while advancing our mission to invest in new innovation leaders and deliver strong risk-adjusted returns across all stages.”
Picus Capital was founded in 2015 as a privately financed investment firm. It has since evolved into an early-stage technology investment firm with a long-term investment philosophy. It partners with entrepreneurs from pre-Seed through to later growth stages via the Picus Venture Fund strategy.
The VC firm’s focus areas include energy and climate, fintech, enterprise infrastructure, generative AI, cybersecurity, healthcare, and enterprise application. The firm states that it has consistently delivered an annual internal rate of return (IRR) exceeding 40% since its inception.
Earlier this year, in May, the VC firm announced the final closing of oversubscribed Picus Venture Fund II at its €250 million hard cap, more than double the size of its predecessor fund.
In 2025, EU-Startups reported on two funding rounds involving Picus Capital. Last month, the firm led the €4 million pre-Seed funding round of Barcelona-based Kabilio, along with Visionaries Club. In Jaunary, it backed Paris-based Maki in a €26 million Series A funding round.
“Picus has assembled a highly diversified portfolio of category-defining companies, and the firm’s sustained performance and impressive momentum made this an especially attractive partnership for us,” said Michael Hacker, Global Head of Portfolio Finance at Carlyle AlpInvest.
Carlyle AlpInvest is a global private equity investor with nearly €87 billion ($102 billion) of assets under management and more than 700 investors as of September 30, 2025. It has invested with over 370 private equity managers and committed over €94.7 billion ($111 billion) across primary commitments to private equity funds, secondary transactions, portfolio financings, and co-investments. Carlyle AlpInvest employs more than 290 people in New York, Amsterdam, Hong Kong, London, and Singapore.
Read the orginal article: https://www.eu-startups.com/2025/12/early-backer-of-unicorns-personio-and-enpal-picus-capital-closes-e150m-preferred-equity-deal/
