Eurazeo, through its Elevate team, announced the first close of its PME V fund at over €1 billion (US$1.17 billion) in commitments and seeded the fund with initial investments in OMMAX and Nextron Systems across Europe. 

Managed by the firm's Elevate team, the fund focuses on investing in high-growth technology and services companies across Europe. The strong fundraising reflects continued confidence from institutional investors, with international investors now representing around 60% of total commitments, more than double the proportion seen in the previous fund generation. 

The PME V strategy is designed to support fast-growing European businesses through international expansion, operational improvements, digital transformation, and selective acquisitions. Eurazeo's investment team, based across Paris, London, Madrid, and Munich, works closely with portfolio companies to accelerate growth and improve profitability. A key focus of the fund is helping businesses adopt artificial intelligence and data-driven operating models to enhance productivity, create new revenue opportunities, and strengthen competitive positioning. 

The fund has already begun deploying capital through two initial investments. The first is OMMAX, a Munich-based data analytics and AI consultancy that serves clients across Europe. As part of Eurazeo's buy-and-build strategy, OMMAX has already signed its first acquisition, French consulting firm Singulier, to expand its capabilities and strengthen its position in the European AI and data consulting market. 

The second investment is Nextron Systems, a German cybersecurity software company specializing in threat intelligence and forensic detection solutions. Eurazeo signed an agreement to acquire a majority stake in the company, whose products are used by more than 550 customers in over 25 countries. The investment reflects the growing importance of cybersecurity and digital resilience as businesses increasingly rely on advanced technology infrastructure. 

According to Eurazeo, PME V is already more than 10% deployed through these two transactions and is targeting a portfolio of more than 15 companies. The fund aims to capitalize on long-term growth themes such as artificial intelligence, cybersecurity, digital transformation, and technology-enabled services, positioning itself to support the next generation of European mid-market leaders. The launch also reinforces Eurazeo's broader ambition to remain a leading private markets investor focused on scaling innovative European businesses internationally.