Czech Orbit Capital launches €100M Growth Debt II Fund to back tech innovators overlooked by banks

Czech investment firm Orbit Capital has launched its second venture debt fund, Growth Debt II, with a target size of €100 million. The fund aims to accelerate growth for technology companies in Central and Eastern Europe that are often left behind by traditional banks.

About Orbit Capital

• Orbit Capital, founded in 2019 and headquartered in Prague, has emerged as a trailblazer in the region’s venture debt ecosystem. 

• Led by experienced investor Radovan Nesrsta and partners Lukáš Macko, Wiktor Namysl, and Jerzy Rozlucki, the firm specializes in supporting tech scaleups with capital ranging from €3 million to €10 million. 

• Orbit Capital’s fund family includes Growth Debt I, which closed at €40 million, and the Growth Equity I fund, which boasts two unicorns in its portfolio.

“Venture debt financing is up to four times cheaper for founders than equity dilution. It’s ideal for fast-growing firms not yet ready for bank financing, and our first fund showed we can deliver 15% returns with strong downside protection,” says Radovan Nesrsta.

Fund Details

• Growth Debt II has already completed its first close at €70 million and is in final negotiations with additional investors. 

• Its backers include the European Investment Fund (EIF), Česká Spořitelna—the Czech Republic’s largest bank—and Rentea, the pension fund arm of Partners Group. 

• Through Conseq, retail investors can also participate via the Conseq Venture Debt II fund.

The fund targets tech and tech-enabled firms that are approaching or have achieved positive cash flow and are poised for further expansion. Orbit Capital has already invested in 15 companies through its first fund, including Czech online grocer Rohlík, AI call center software CloudTalk, fintech startup Twisto, anti-fraud firm ThreatMark, and Slovak yacht rental platform Boataround.