Orbit Capital has reached a €107 million second close on Growth Debt Fund II, moving the Prague and Warsaw venture debt platform past its €100 million target. The firm announced the close on 2 July 2026.
The fund first closed at €70 million in 2025. Wiktor Namysł, a Partner at Orbit Capital, told XYZ that the hard cap is €120 million. He said maximising fund size is not the main objective at this stage.
Growth Debt Fund II lends to post-Series A technology companies with at least €3 million in revenue and year-on-year growth of at least 30 per cent. Tickets range from €3 million to €15 million. The capital is intended for international expansion, acquisitions, working capital and capital expenditure. The strategy covers Central and Eastern Europe and DACH. The fund is classified as an Article 8 vehicle under the EU Sustainable Finance Disclosure Regulation.
Namysł told XYZ the tickets are "true growth tickets" for companies "fighting for scale", and that the fund does not provide rescue financing or bridge loans. Facilities typically run for three years, with a grace period on principal, and include warrants. Collateral sits at company level. Namysł said Orbit does not require pledges, promissory notes or personal guarantees from founders or their families.
Limited partners include the European Investment Fund, which pledged up to €20 million at the first close, Czech private pension fund Rentea, Česká spořitelna of the Erste Group, and Conseq. PFR Ventures committed 42 million zloty, about €10 million, at the second close from its PFR VC programme. That was PFR Ventures' first allocation to a venture-debt fund. Tech.eu said Rentea's commitment marked the first time a pension fund in the region had allocated to the product.
Orbit Capital said the investor base also includes private investors from Czechia, Slovakia, Poland and Slovenia, as well as Western Europe.
The vehicle succeeds Orbit Growth Debt I, a €40 million fund that started operations in 2019. The European Investment Fund said the first fund had invested in companies including Rohlik, Twisto, ThreatMark, CloudTalk and Boataround. Tech.eu said Orbit Capital has supported more than 20 companies through its venture debt platforms.
Fund II has already completed five investments. Coverage named Czech companies Sloneek and IAG and Polish company Talkin' Things.
Radovan Nesrsta, a partner at Orbit Capital, said maturing companies need financing that preserves equity. "We provide the strategic runway they need to scale efficiently," he said.
Bartłomiej Samsonowicz, investment director at PFR Ventures, said access to debt at growth stages can accelerate expansion while limiting dilution for founders.