Orbit Capital has announced the second closing of its Growth Debt Fund II at €107 million, surpassing its initial fundraising target (announced at €100M) and further strengthening its position as one of Central and Eastern Europe's leading venture debt investors.

The fund will provide non-dilutive financing to technology companies that have moved beyond Series A, targeting businesses generating at least €3 million in annual revenue and growing by more than 30% year over year. Investment tickets will range from €3 million to €15 million and are intended to support international expansion, acquisitions, working capital, and capital expenditure.

Institutional investors deepen commitment to CEE venture debt

To date, Orbit Capital has financed more than 20 high-growth companies through its venture debt platforms. According to partner Radovan Nesrsta, the demand for flexible financing is increasing as startups mature and seek capital without diluting existing shareholders.

The latest close attracted backing from several institutional investors, including the European Investment Fund, Rentea, Česká spořitelna, Erste Group, Conseq, and PFR Ventures. Orbit said the participation of Rentea represents one of the first allocations by a Czech private pension fund into venture debt, while PFR Ventures made its first investment in the asset class.

"At growth stages, access to debt financing can significantly accelerate expansion while limiting dilution for founders," said Bartłomiej Samsonowicz (Investment Director at PFR Ventures), adding that Orbit's experience in the regional technology ecosystem made it a strong partner for supporting CEE scaleups.

The fund has also attracted private investors from Czechia, Slovakia, Poland, Slovenia, and Western Europe, reflecting growing confidence in venture debt as an alternative financing instrument for the region's startup ecosystem.

According to general partner Lukas Macko, founders increasingly value financing partners that understand the operational realities of scaling technology businesses while allowing them to retain ownership. Partner Wiktor Namysł added that venture debt has evolved from a niche financing option into a core growth tool for later-stage startups.

Growth Debt Fund II has already begun deploying capital, completing five investments to date. These include Czech startups Sloneek and IAG, alongside Polish startup Talkin' Things, as Orbit continues to expand its portfolio of high-growth technology companies across Central and Eastern Europe.

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