Fintech entrepreneur buys stake in European PE firm

A fintech founder has bought a stake in European private equity house HPE Growth.

The Amsterdam-based investment firm has sold a minority stake to Philipp Nieland, who founded PPRO, a cross-border payments infrastructure technology company.

In 2014, London-based PPRO, pronounced as ‘P-pro’, became HPE Growth’s first fintech investment.

HPE then set up a single-asset continuation vehicle for PPRO in 2021, with secondary investors Coller Capital and Adams Street Partners co-leading the deal, in order to hold the portfolio company for longer and provide it with fresh capital to support its growth.

READ MORE: HPE collects €160m to support PPRO

Set up in 2010, HPE Growth focuses on growth capital investments in early to mid-stage technology companies throughout Europe, with assets under management in excess of €500m.

The firm said it is currently focused on scaling digital business models in Europe across private fund products including HPE’s latest digital climate impact fund.

It added that the deal supports “the realignment of the shareholder group while addressing the succession planning for the future”. 

HPE Growth said the partnership with Nieland Family Office allows the GP (general partner) to increase its GP commitment per fund going forward; this includes its current products in the market, HPE growth fund III (SFDR article 8) and its impact product, the digital climate fund (SFDR article 9).

HPE Growth remains managed by the existing senior leadership team, including Frederic Huynen who is promoted to a member of the HPE Growth management team. 

The Nieland Family Office said it will support the efforts to extend and broaden HPE Growth’s investor base as well as support HPE Growth’s proprietary deal sourcing.

The Nieland Family Office will not take up any operational or investment decision role in the GP.

The deal is subject to customary regulatory approval.

To contact the author of this story with feedback or news, email Sebastian McCarthy

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