German VC Picus Capital Secures €150M Preferred Equity Deal

The capital boost will allow Picus Capital to pursue new investments and continue scaling support for its portfolio of nearly 200 companies, including unicorns like Personio and Enpal.

Robin Godenrath, Managing Partner & founder at Picus Capital, said, “Carlyle AlpInvest’s partnership underscores the strength, resilience and potential of our portfolio and positions us to accelerate growth across our investment platform.

“Partnering with Carlyle AlpInvest allows us to continue supporting our existing portfolio companies and their visionary founders as they scale while advancing our mission to invest in new innovation leaders and deliver strong risk-adjusted returns across all stages.”

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Founded in 2015 as a privately financed investment firm, Picus Capital has grown into an early-stage technology VC with a long-term investment philosophy. It partners with entrepreneurs from pre-Seed to later growth stages through its Picus Venture Fund strategy.

The firm focuses on sectors including energy and climate, fintech, enterprise infrastructure, generative AI, cybersecurity, healthcare, and enterprise applications, consistently delivering an annual IRR above 40%.

Earlier this year, Picus Venture Fund II closed at its €250 million hard cap, more than double its predecessor. In 2025, Picus participated in two rounds: leading a €4 million pre-Seed for Barcelona-based Kabilio with Visionaries Club, and backing Paris-based Maki in a €26 million Series A.

“Picus has assembled a highly diversified portfolio of category-defining companies, and the firm’s sustained performance and impressive momentum made this an especially attractive partnership for us,” said Michael Hacker, Global Head of Portfolio Finance at Carlyle AlpInvest.

Carlyle AlpInvest is a global private equity investor managing nearly €87 billion ($102 billion) in assets for over 700 investors as of September 30, 2025.

The firm has partnered with more than 370 private equity managers, committing over €94.7 billion ($111 billion) across primary fund investments, secondary transactions, portfolio financings and co-investments. Carlyle AlpInvest operates with a team of more than 290 employees across New York, Amsterdam, Hong Kong, London and Singapore.

About Picus Capital

Founded in 2015, Picus Capital is an early-stage technology investment firm with a long-term philosophy. It partners with bold entrepreneurs to build global, innovative companies that challenge the status quo and shape the future of work and life.