Provectus Achieves First-Close for PCP SEE Fund II - InforCapital

Provectus Capital Partners (PCP), a leading private equity firm based in Zagreb, Croatia, has announced the first close of its second buyout fund, PCP SEE Fund II, raising a total of €162.5 million. The concluding close of the fund is projected for Q2/Q3 2026, with the ultimate fund size expected to reach up to €250 million.

The PCP SEE Fund II has drawn significant interest from institutional investors, a testament to the growing confidence in Southeast Europe's private equity market and in Provectus' established investment model. A diverse array of institutional investors, including banks, development finance institutions, pension funds, insurance companies, and family offices, have pledged commitments. Notably, nearly all investors from the predecessor, PCP Fund I, have committed to Fund II, and new investors now make up approximately half of the total investor base. This demonstrates a robust expansion and continuity of the investor base.

PCP SEE Fund II aims to build upon the success of its predecessor, which primarily focused on healthcare investments across the Adriatic region. The new fund will continue to explore opportunities in the healthcare sector while also diversifying into other rapidly growing and fragmented sectors that present significant potential for regional consolidation and the formation of regional champions.

The fund will target market leaders with proven growth potential in the Adria region, including Croatia, Slovenia and neighbouring markets. It will also venture into new geographies such as Romania and Bulgaria. To further cement its commitment to Southeast Europe, Provectus has opened offices in Bucharest and Sofia, enhancing its local presence and origination capabilities. The firm will continue to implement a Buy & Build investment strategy through PCP SEE Fund II, making equity investments of €15–25 million per platform, typically in stages and in conjunction with debt financing and potential co-investments with like-minded investors.

By merging local presence with an active consolidation model, PCP aims to create scalable regional leaders and generate sustainable value through operational excellence and strategic M&A.

Igor Čičak, CEO and Managing Partner of Provectus Capital Partners, said, "We are proud to announce the first close of Fund II at €162.5 million. The sustained support from our existing investors, coupled with strong participation from new institutional LPs, indicates confidence in our strategy, our performance thus far, and our long-term vision for value creation in Southeast Europe."

PCP launched its Fund I in 2020 with commitments of €95 million, successfully creating a portfolio of 5 platform companies with over 40 add-on acquisitions across the Adria region. Its performance and robust track-record have solidified PCP as a trusted and active private equity partner in Southeast Europe.