Queka Real Partners closes second fund at €194m, surpassing target for Spanish lower mid-market strategy
Queka Real Partners has announced the final close of its second private equity fund, raising €194m for its latest vehicle focused on Spain’s lower mid-market. The fund exceeded its €175m target.
Queka RP PEF 2 will continue the firm’s focus on companies generating €2m–€5m in EBITDA, with typical equity investments ranging from €10m to €20m.
The fund builds on the foundation of Queka’s €151m debut fund raised in 2020.
The Madrid-based firm, founded in 2018, has completed eight investments across sectors including cosmetics, education, software, and food ingredients. Its current portfolio includes LipoTrue, a developer of cosmetic actives, and Juan Navarro García, a specialist in paprika and spice products. Fund 2 is already close to 45% deployed, with a robust pipeline in place.
“We are delighted with the final closing of Fund 2 and would like to thank both our existing and new investors for their considerable support,” said Managing Partner Fernando Elío. “While we are very happy with the early successes already delivered at Queka, we are even more excited about what is to come.”
Queka now manages over €350m in assets and continues to pursue a proprietary sourcing model, supporting management teams with strategic, operational, and buy-and-build value creation initiatives.