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Kreos Capital

Full company profile

uuid0000czb

Namestring
Kreos Capital
Legal namestring
Kreos Capital
Company typeenum
Private
Founded yearint
1998
Descriptiontext

Kreos Capital is a London-headquartered growth debt firm founded in 1998, providing venture and growth-stage financing solutions to technology and healthcare companies across Europe and Israel. Since inception it has committed over €7.0 billion across more than 830 transactions to 640+ portfolio companies, deploying capital through eight successive funds. The firm currently invests €800M+ per year across 22 countries, with a relationship-driven origination model anchored by seven managing partners and approximately 50 employees. Its portfolio spans enterprise software, fintech, cybersecurity, deeptech and quantum computing, life sciences, and digital consumer businesses, with named borrowers including Lapse, Soldo, TrustLayer, IQM, Bit.Bio, Ori Biotech, Xyte AI, Syte, and Cosmose AI.

The business model is classic growth debt fund management: Kreos raises dedicated funds from institutional LPs (now consolidated under BlackRock ownership following the August 2023 acquisition), charges management fees on committed and invested capital, and earns carried interest on realized gains above hurdle rates. Deal structuring spans senior term loans, unitranche facilities, growth capital, and follow-on equity co-investments, with typical ticket sizes supporting venture-to-growth-stage transitions. Underwriting is relationship-driven, leveraging partner networks built over 27 years and supplemented by BlackRock's broader capital markets and balance-sheet capabilities post-acquisition.

The August 2023 BlackRock acquisition transformed Kreos from an independent specialist into a wholly-owned subsidiary within a global asset manager exceeding $10 trillion in AUM. This integration materially expanded Kreos's cost-of-capital advantage, fundraising reach, and ability to underwrite larger and more structured transactions, while preserving its brand, partner team, and European growth-debt franchise. Strategic priorities under BlackRock ownership include scaling deployment toward and beyond €1B annually, deepening vertical coverage in deeptech and healthcare, and leveraging the parent platform for capital markets, structured solutions, and cross-fund co-investment.

Short descriptiontext

Kreos Capital is a London-based growth debt firm, founded in 1998 and acquired by BlackRock in 2023, providing venture and growth-stage financing to technology and healthcare companies across 22 countries in Europe and Israel, with €7.0B+ committed across 830+ transactions.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersLondon, United Kingdom
HQ citystring
London
HQ countrystring
United Kingdom
HQ regionstring
Europe
Markets served

Serves global market

Offices3 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
growth debt financing, venture debt, private credit, non-dilutive financing, growth capital
Industry2 codes
1Venture Growth / Recurring Revenue Credit Funds
CodeFSANAIAGPrimaryYes
2SME Term Loans & Growth Capital
CodeFSAKAGABPrimaryNo
NAICS code1 code
  • Other Financial Investment Activities5239
SIC code1 code
  • Miscellaneous Business Credit Institution6159
Product category
Venture Debt / Growth Debt Financing
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Growth Debt Financing
TypeSubscription Recurring
Description

Kreos Capital provides debt facilities to high-growth companies, generating returns through interest income and warrant participation. They serve as a long-term finance partner providing financing across multiple business cycles for companies in technology and healthcare sectors.

blackrock.com
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components3 values
Personnel, Operations, Technology or R&D
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Kreos Capital provides growth debt financing to high-growth technology and healthcare companies across Europe and Israel. The firm offers tailored debt facilities spanning entry-level growth, mid-stage, late-stage, pre-IPO/exit, and publicly listed growth funding stages. Returns are generated through interest income and warrant participation as a long-term finance partner to portfolio companies and equity sponsors.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Kreos Capital is a growth debt provider offering financing solutions for high-growth companies in the technology and healthcare sectors across Europe and Israel. The company does not operate as a traditional product/software company but rather as a financial services firm providing debt financing at various stages of company growth, from entry-level growth and mid-stage development through to late stage, pre-IPO/exit funding, and publicly listed growth funding. Their financing products serve as an alternative or complement to equity capital for portfolio companies.

Product and service1 record
1Growth Debt Financing
CategoryGrowth Debt Financing
Description

Tailored debt facilities provided to high-growth technology and healthcare companies across Europe and Israel, spanning entry-level growth, mid-stage, late-stage, pre-IPO/exit, and publicly listed growth funding. Generates returns through interest income and warrant participation as a long-term finance partner.

Scale indicator8 records

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

UK-based venture debt provider focused on growth-stage technology and life sciences companies in Europe. Closely comparable to Kreos on geography, sector focus, and stage of lending.

TypeDirect peer
Description

US-listed specialty finance company providing venture debt to high-growth technology and healthcare companies. Comparable to Kreos in product, sector focus, and borrower profile, though primarily US-focused.

TypeDirect peer
Description

US-listed venture debt platform lending against the assets of venture-backed technology, life science, and healthcare companies. Closely mirrors Kreos's growth-debt model and sector specialization.

TypeDirect peer
Description

US-focused venture debt provider offering growth loans to late-stage companies across technology and life sciences. Operates a similar growth-debt product to Kreos with comparable borrower profile.

TypeDirect peer
Description

US-listed specialty finance company providing venture debt and equipment financing to growth-stage technology and healthcare companies. Highly comparable business model to Kreos.

TypeRegional player
Description

European venture debt and growth equity arm of Commerzbank, focused on fintech and B2B software companies. Comparable to Kreos's European tech focus but concentrated in DACH and France.

TypeBroad incumbent
Description

Global private credit asset manager with European private debt strategies across direct lending and special situations. Broader incumbent competing for institutional private credit mandates relevant to Kreos's strategy.

TypeBroad incumbent
Description

European private credit manager (formerly Bridgepoint Credit) providing direct lending and asset-backed financing across the capital structure. Overlaps with Kreos on mid-market European lending.

TypeBroad incumbent
Description

European alternative credit manager with direct lending and special situations funds. Comparable European private credit platform that can compete with Kreos for institutional capital and deal flow.

TypeBroad incumbent
Description

European private credit arm of Permira offering direct lending and special situations strategies. Competes with Kreos for European mid-market and growth-stage lending opportunities.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers15 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles8 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment147 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Kreos Capital

Venture Debt / Growth Debt Financingkreoscapital.com

Kreos Capital is a London-based growth debt firm, founded in 1998 and acquired by BlackRock in 2023, providing venture and growth-stage financing to technology and healthcare companies across 22 countries in Europe and Israel, with €7.0B+ committed across 830+ transactions.

What Kreos Capital does

Kreos Capital is a London-headquartered growth debt firm founded in 1998, providing venture and growth-stage financing solutions to technology and healthcare companies across Europe and Israel. Since inception it has committed over €7.0 billion across more than 830 transactions to 640+ portfolio companies, deploying capital through eight successive funds. The firm currently invests €800M+ per year across 22 countries, with a relationship-driven origination model anchored by seven managing partners and approximately 50 employees. Its portfolio spans enterprise software, fintech, cybersecurity, deeptech and quantum computing, life sciences, and digital consumer businesses, with named borrowers including Lapse, Soldo, TrustLayer, IQM, Bit.Bio, Ori Biotech, Xyte AI, Syte, and Cosmose AI.

The business model is classic growth debt fund management: Kreos raises dedicated funds from institutional LPs (now consolidated under BlackRock ownership following the August 2023 acquisition), charges management fees on committed and invested capital, and earns carried interest on realized gains above hurdle rates. Deal structuring spans senior term loans, unitranche facilities, growth capital, and follow-on equity co-investments, with typical ticket sizes supporting venture-to-growth-stage transitions. Underwriting is relationship-driven, leveraging partner networks built over 27 years and supplemented by BlackRock's broader capital markets and balance-sheet capabilities post-acquisition.

The August 2023 BlackRock acquisition transformed Kreos from an independent specialist into a wholly-owned subsidiary within a global asset manager exceeding $10 trillion in AUM. This integration materially expanded Kreos's cost-of-capital advantage, fundraising reach, and ability to underwrite larger and more structured transactions, while preserving its brand, partner team, and European growth-debt franchise. Strategic priorities under BlackRock ownership include scaling deployment toward and beyond €1B annually, deepening vertical coverage in deeptech and healthcare, and leveraging the parent platform for capital markets, structured solutions, and cross-fund co-investment.

Kreos Capital firmographics

Firmographics
Name
Kreos Capital
Legal name
Kreos Capital
Website
https://kreoscapital.com
Company type
Private
Founded year
1998
Operating status
Operating
Headcount range
11–50 employees
Short description
Kreos Capital is a London-based growth debt firm, founded in 1998 and acquired by BlackRock in 2023, providing venture and growth-stage financing to technology and healthcare companies across 22 countries in Europe and Israel, with €7.0B+ committed across 830+ transactions.
Ownership category
akta.pro rank

Kreos Capital industry classification

Industry
Product category
Venture Debt / Growth Debt Financing
NAICS
Other Financial Investment Activities (5239)
SIC
Miscellaneous Business Credit Institution (6159)
akta.pro primary industry
Venture Growth / Recurring Revenue Credit Funds (FSANAIAG)
akta.pro secondary industry
SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

  • Growth debt financing
  • Venture debt
  • Private credit
  • Non-dilutive financing
  • Growth capital

Where Kreos Capital is headquartered

Location

Headquarters

HQ city
London
HQ country
United Kingdom
HQ region
Europe

Offices3 records

Markets served

Kreos Capital business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D

Revenue model

  1. Growth Debt Financing: Kreos Capital provides debt facilities to high-growth companies, generating returns through interest income and warrant participation. They serve as a long-term finance partner providing financing across multiple business cycles for companies in technology and healthcare sectors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Kreos Capital product offering

Product offering

Core offering

Kreos Capital provides growth debt financing to high-growth technology and healthcare companies across Europe and Israel. The firm offers tailored debt facilities spanning entry-level growth, mid-stage, late-stage, pre-IPO/exit, and publicly listed growth funding stages. Returns are generated through interest income and warrant participation as a long-term finance partner to portfolio companies and equity sponsors.

Product overview

Kreos Capital is a growth debt provider offering financing solutions for high-growth companies in the technology and healthcare sectors across Europe and Israel. The company does not operate as a traditional product/software company but rather as a financial services firm providing debt financing at various stages of company growth, from entry-level growth and mid-stage development through to late stage, pre-IPO/exit funding, and publicly listed growth funding. Their financing products serve as an alternative or complement to equity capital for portfolio companies.

Differentiator

Problem solved

Functional benefit

Products and services

  • Growth Debt Financing Tailored debt facilities provided to high-growth technology and healthcare companies across Europe and Israel, spanning entry-level growth, mid-stage, late-stage, pre-IPO/exit, and publicly listed growth funding. Generates returns through interest income and warrant participation as a long-term finance partner.

Companies that use Kreos Capital

Customer profile

Named customers15 records

Segments2 records

Ideal customer profiles2 records

Kreos Capital technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Kreos Capital partnerships and signals

Strategic signal

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Kreos Capital competitors and assessment

Company assessment

Direct peers

  • Triple Point Capital: UK-based venture debt provider focused on growth-stage technology and life sciences companies in Europe. Closely comparable to Kreos on geography, sector focus, and stage of lending.
  • Hercules Capital: US-listed specialty finance company providing venture debt to high-growth technology and healthcare companies. Comparable to Kreos in product, sector focus, and borrower profile, though primarily US-focused.
  • Horizon Technology Finance: US-listed venture debt platform lending against the assets of venture-backed technology, life science, and healthcare companies. Closely mirrors Kreos's growth-debt model and sector specialization.
  • Runway Growth Capital: US-focused venture debt provider offering growth loans to late-stage companies across technology and life sciences. Operates a similar growth-debt product to Kreos with comparable borrower profile.
  • Trinity Capital: US-listed specialty finance company providing venture debt and equipment financing to growth-stage technology and healthcare companies. Highly comparable business model to Kreos.

Regional players

  • CommerzVentures: European venture debt and growth equity arm of Commerzbank, focused on fintech and B2B software companies. Comparable to Kreos's European tech focus but concentrated in DACH and France.

Broad incumbents

  • Muzinich & Co: Global private credit asset manager with European private debt strategies across direct lending and special situations. Broader incumbent competing for institutional private credit mandates relevant to Kreos's strategy.
  • Arcmont Asset Management: European private credit manager (formerly Bridgepoint Credit) providing direct lending and asset-backed financing across the capital structure. Overlaps with Kreos on mid-market European lending.
  • Hayfin Capital Management: European alternative credit manager with direct lending and special situations funds. Comparable European private credit platform that can compete with Kreos for institutional capital and deal flow.
  • Permira Credit: European private credit arm of Permira offering direct lending and special situations strategies. Competes with Kreos for European mid-market and growth-stage lending opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Kreos Capital social profiles

Digital presence

Kreos Capital financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Kreos Capital leadership team

Management profile

Number of profiles

Profiles8 records

Kreos Capital funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Kreos Capital M&A and investment

M&A and investment

M&A

Investments147 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kreos Capital

What does Kreos Capital do?

Kreos Capital provides growth debt financing to high-growth technology and healthcare companies across Europe and Israel. The firm offers tailored debt facilities spanning entry-level growth, mid-stage, late-stage, pre-IPO/exit, and publicly listed growth funding stages. Returns are generated through interest income and warrant participation as a long-term finance partner to portfolio companies and equity sponsors.

Is Kreos Capital a public or private company?

Kreos Capital is a private company. It is classified as corporate owned and is currently operating.

When was Kreos Capital founded?

Kreos Capital was founded in 1998. It employs 11 to 50 people.

Where is Kreos Capital based?

Kreos Capital is headquartered in London, United Kingdom, in the Europe region.

How does Kreos Capital make money?

One revenue line is on record: growth Debt Financing.

Who are Kreos Capital's main competitors?

Direct peers on record are Triple Point Capital, Hercules Capital, Horizon Technology Finance, Runway Growth Capital and Trinity Capital. CommerzVentures is listed as a regional player. Broad incumbents are Muzinich & Co, Arcmont Asset Management, Hayfin Capital Management and Permira Credit.

Does Kreos Capital have an API?

No public API is recorded for Kreos Capital.

What industry is Kreos Capital in?

Kreos Capital's product category is Venture Debt / Growth Debt Financing. Its primary akta.pro industry code is FSANAIAG, Venture Growth / Recurring Revenue Credit Funds, with a secondary code of FSAKAGAB, SME Term Loans & Growth Capital. Its NAICS code is 5239 and its SIC code is 6159.

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Live signals
The Next WebClaret Capital closes €575M Fund IV for European growth debtClaret Capital closed its fourth European growth debt fund at €575M, exceeding its €500M target. The fund lent to 27 companies, including Billie and Cinclus Pharma, and is Europe's largest independent growth debt fund manager. The firm expects demand for non-dilutive capital to accelerate as equity markets remain selective.AifundservicesVenture Debt Market Outlook At 2023 Halfway MarkThe venture debt market outlook has become less clear at the halfway point of 2023, complicated by the Silicon Valley Bank collapse in March and broader banking sector challenges. Business development companies are seeing increased net interest income as floating-rate loans pass on Fed interest rate rises, while demand remains strong as startups struggle to secure traditional bank loans. Asset management giant BlackRock acquired European private credit manager Kreos Capital in June, signaling significant opportunity in the sector despite a 38% drop in Q1 venture capital fundraising.GlobeNewswireNicox Announces Complete Repayment of Kreos Capital Debt and Extends Cash Runway Beyond 2027 with New Additional FinancingNicox SA announced the full repayment of all secured debt to Kreos Capital using existing cash as of December 31, 2025, releasing all security guarantees over the company's assets and terminating Kreos Capital's observer board rights. The company simultaneously secured €4 million in new unsecured bond financing through convertible and ordinary bonds subscribed by institutional investors, including existing financing partner Vester Finance, extending its cash runway beyond the end of 2027. Nicox continues to evaluate strategic growth opportunities including collaborations or business combinations, with its lead program NCX 470 on track for NDA submission in the United States in summer 2026.Sequana MedicalPress Release DetailSequana Medical NV announced on 5 December 2025 a share capital increase through contributions in kind of convertible receivables totaling EUR 1,607,000, resulting in the issuance of 3,199,326 new shares. The company's share capital rose from EUR 7,054,460.23 to EUR 7,385,910.40, with total outstanding shares increasing from 68,089,899 to 71,289,225. The transaction involved convertible loans with Kreos Capital VII (UK) Limited and other lenders, converting outstanding debt into equity.GlobeNewswirePress release: Transparency Notification from ShareholderSequana Medical NV announced that it received transparency notifications from three major shareholders regarding changes in their voting rights thresholds as of 26 September and 7 October 2025. Partners in Equity V B.V. and Partners in Equity III B.V. collectively hold 14.36% of voting rights, having crossed below the 15% threshold, while Société Fédérale de Participations et d'Investissement SA and Belfius entities collectively hold 5.20%. BlackRock Inc. and Kreos Capital VII Aggregator ScSp crossed above the 3% threshold to hold 3.77% of voting rights. These notifications are required under Belgian transparency legislation when shareholders cross specified voting rights thresholds.SecDocumentVectivBio Holding AG entered into a note financing agreement with Kreos Capital VI (UK) Limited providing up to USD 75.0 million in borrowing capacity and an exclusive licensing agreement with Asahi Kasei Pharma Corporation for its lead product candidate, apraglutide, in Japan. Under the licensing deal, VectivBio received an upfront payment of approximately USD 25 million and is eligible for up to USD 170 million in milestone payments plus royalties. The company intends to use the loan proceeds to advance clinical development of apraglutide and for general corporate purposes.BioSpaceAbivax Secures Up to EUR 150M from Two Structured Debt Financing TransactionsAbivax SA secured up to EUR 150M in structured debt financing through two transactions involving Kreos Capital, Claret European Growth Capital, and Heights Capital Management. The company will use the net proceeds of approximately EUR 27M from the initial tranches to fund Phase 3 clinical trials for its drug candidate obefazimod and repay existing indebtedness. This capital injection extends Abivax's cash runway until the end of Q2 2024, supporting its strategic focus on treating ulcerative colitis.BenzingaBlackRock Boosts Global Credit Business With Kreos Capital Buyout - BlackRock (NYSE:BLK)BlackRock Inc announced an agreement to acquire Kreos Capital, a London-based growth and venture debt financing firm that serves technology and healthcare companies, with Kreos's 45-person team set to join upon completion. The acquisition is intended to complement BlackRock's Global Credit business and expand its offerings in private market investment products, leveraging survey findings showing over half of respondents plan to increase private credit holdings. The transaction is expected to close in Q3 2023, subject to customary regulatory and closing conditions, with no material impact expected on BlackRock earnings.BioSpaceOxurion Announces Subscription Agreement with Atlas Providing the Company with Up To €20 Million in FundingOxurion NV has entered into a subscription agreement with Atlas Special Opportunities, LLC to secure up to €20 million in financing through convertible bonds. This funding is intended to support the completion of Phase 2 clinical trials for its ophthalmic therapy THR-149 and strengthen the company's balance sheet. Additionally, Oxurion amended its existing debt agreements with Kreos Capital and Pontifax Ventures to reduce total debt by approximately €1 million.FintechFINBOURNE collects £30m debt facilityFINBOURNE Technology secured a £30m debt facility from Kreos Capital to strengthen its capital structure and support international expansion into banking and capital markets. The funding will facilitate the launch of new SaaS capabilities, including FINBOURNE Horizon, and bolster the company's training programs following recent growth in North America and Asia-Pacific. This move aims to help asset servicers digitize operations while allowing FINBOURNE to extend its product offerings beyond investment management.