Orbit Capital Hits $114M for Growth Debt Fund II

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Orbit Capital closes Growth Debt Fund II at $114M, surpassing its target. Backed by EIF and PFR Ventures, the fund targets post-Series A tech companies in CEE with venture debt from $3.2M to $16M.

Orbit Capital, a Central and Eastern European (CEE) fund with offices in Prague and Warsaw, just closed its Growth Debt Fund II at $114 million. That's about 107 million euros. They blew past their original target, and it solidifies their spot as a major venture debt player in the region. ### Key Backers and Track Record Anchor investors in the fund include the European Investment Fund (EIF), Rentea, Ceska sporitelna/Erste, and Conseq. PFR Ventures also chipped in. So far, Orbit has backed over 20 companies with growth capital. This new fund follows their first close of $74.8 million back in June 2025. "As companies mature, they need smart and flexible financing that preserves equity," says Radovan Nesrsta, Partner at Orbit Capital. "We provide the strategic runway they need to scale efficiently." ### A Bigger Trend Across Europe Orbit's $114 million close is part of a larger wave. Across Europe in 2026, specialist capital providers, venture funds, and debt-linked platforms are all raising money. For context, here are a few other big raises this year: - Montis VC (Warsaw) hit $53.5 million first close - SlateVC (Paris) closed a $141 million growth fund - Osney Capital (London) finished at $73.8 million - Plus, several debt deals: InSoil's $128 million facility, BioLamina's $21.4 million EIB venture debt, and 9fin's $158 million Series C All told, these comparable announcements add up to about $654 million in disclosed capital. "At growth stages, access to debt financing can significantly accelerate expansion while limiting dilution for founders," adds Bartlomiej Samsonowicz, Investment Director at PFR Ventures. "Orbit Capital's track record and deep understanding of the regional technology ecosystem make them a strong partner." ### What This Fund Does Founded in 2019, Orbit Capital manages over $214 million in assets through venture debt and growth equity. They focus on tech leaders in CEE, but also look at opportunities in the DACH region and broader Europe. Fund II targets post-Series A companies with at least $3.2 million in revenue and 30% year-over-year growth. Investment tickets range from $3.2 million to $16 million, used for international expansion, acquisitions, working capital, and capital expenditures. The fund has already started deploying capital, with five investments so far. That includes Czech startups Sloneek and IAG, plus Polish startup Talkin' Things. Other portfolio companies include big names like Preply, Booksy, MEWS, Rohlik, CloudTalk, ThreatMark, Boataround, and Jutro Medical. "We decided to invest as there are few players in the CEE who are as experienced as Orbit in venture debt," says Jaroslav Baier, Partner at Havel & Partners. "Apart from that, we see potential in venture debt as a financial product as the role of startups and scale-ups will grow in all CEE economies."

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