Monterro holds simultaneous first and final close of its M5 and G2 funds, raising €1.725 billion in four months

Monterro, a specialist B2B software investor in the Nordic region, has announced the simultaneous first and final closing of the latest funds in its two fund series, securing a total of €1.725 billion in commitments.

In an accelerated double fundraise, the firm raised €1.375bn for its fifth flagship fund (“M5”) and €350m for its second lower mid-market fund (“G2”). Both funds were significantly oversubscribed and closed at their hard caps, with the combined fundraise completed in under four months. The close continues Monterro‘s track record of rapid fundraisings and first and final closings, bringing total assets under management to over €3bn.

Despite a challenging fundraising environment, Monterro achieved a re-up rate of 135% from existing investors by capital, while also welcoming 26 new institutional LPs from across Europe, Asia Pacific, the US and Latin America. As with previous funds, Monterro remains the largest investor, committing more than 10% of the capital raised. A further 46 founders and C-suite executives from the Monterro ecosystem also invested, underlining the firm’s partnership-driven approach.

The strong investor appetite for the two funds reflects Monterro’s strong track record of delivering market-leading returns. The funds will continue Monterro’s strategy of scaling leading Nordic B2B software businesses, leveraging the team’s first-hand operational expertise – two-thirds of whom have built and led software businesses, including former C-suite executives. Monterro combines hands-on support, a deep network, and its “Scandinavian Software Park” in Vietnam, home to more than 150 engineers, to solve recurring challenges in software businesses. This is strengthened by Monterro’s in-house AI capabilities to position its portfolio companies at the forefront of innovation.  

So far in 2025, Monterro has signed six new platform investments, completed five add-on acquisitions, opened a new office in Helsinki, and expanded its team with 16 new hires, strengthening its coverage of the Nordic software opportunity.

Rede Partners is proud to be a long-term partner to Monterro, having previously supported the team to raise M4 (€700 million, 2021) and G1 (€150 million, 2023). We are delighted to have worked alongside Monterro once again to achieve this outstanding fundraising result.