In a significant move for the Nordic investment landscape, Monterro, a prominent B2B software investor, has announced the successful closure of its two latest funds, which together have raised a remarkable €1.725 billion in capital commitments. The flagship fund has attracted €1.375 billion, while the second fund, focused on the lower mid-market (G2), secured €350 million. Both funds were notably oversubscribed and completed their fundraising in less than four months, marking Monterro’s fourth first-and-final close and bringing its total assets under management to €3.1 billion.
Monterro's impressive fundraising results highlight a robust investor appetite for its strategy, with the firm achieving a 135% re-up rate from existing investors and welcoming 26 new institutional limited partners from regions including Europe, Asia Pacific, the U.S., and Latin America. This level of commitment underscores Monterro's strong track record in delivering market-leading returns, even in a challenging fundraising environment.
As with previous funds, Monterro remains its largest investor, contributing over 10% of the total capital raised. Additionally, 46 founders and C-suite executives from the Monterro ecosystem have also invested, emphasizing the firm’s partnership-driven approach.
The strategic rationale behind this fundraising effort aligns with Monterro's goal of scaling leading Nordic B2B software businesses. The firm leverages its team's extensive operational expertise, with two-thirds of its members having built and led software companies, including former C-suite executives. Monterro combines hands-on support with a deep network and its unique initiative, the 'Scandinavian Software Park' in Vietnam, which houses more than 150 engineers dedicated to addressing recurring challenges within software businesses. The firm’s in-house AI capabilities further enhance its portfolio companies’ positions at the forefront of innovation.
In 2025 alone, Monterro has already signed six new platform investments, completed five add-on acquisitions, opened a new office in Helsinki, and added 16 new hires to strengthen its coverage of the Nordic software opportunity.
Looking ahead, Monterro's ambitious plans suggest that the firm will continue to actively seek and execute strategic investments in the Nordic B2B software sector, thereby further solidifying its market presence. Although specific timelines for future investments were not detailed in the filing, the momentum established through this fundraising is likely to translate into swift action as Monterro capitalizes on the current market dynamics.
Overall, this successful fundraising effort not only enhances Monterro’s financial standing but also positions it to significantly impact the broader market by fostering growth and innovation within the Nordic software industry. The firm’s ability to attract a diverse group of investors reflects confidence in its strategic vision and operational expertise, setting the stage for continued success in the competitive landscape of B2B software investment.