Nordic Capital has successfully closed its second mid-market fund, Evolution II, at a hard cap of €2 billion, surpassing its €1.4 billion target. This fund is 65% larger than its predecessor, Evolution I, which raised €1.2 billion in 2021. Evolution II focuses on investing in Northern European companies valued between €100 million and €500 million. Its limited partners include various public and private pension funds, asset managers, sovereign wealth funds, family offices, and financial institutions. Nordic Capital, founded in 1989, specializes in healthcare, technology, financial services, and industrial technology sectors. Rede Partners and Kirkland & Ellis were involved in the fundraising process.