LONDON — Investment firm Lightrock confirmed on Tuesday that it is facilitating direct co-investment opportunities for limited partners across its European portfolio. The firm manages capital for investors seeking to increase their ownership stakes in at least 1 startup currently within its holdings. This initiative allows outside investors to bypass traditional fund structures to participate in individual deals.
The firm launched this specific co-investment program following a 2024 internal review of capital allocation strategies. Lightrock reported that limited partners now request direct access to portfolio companies at a rate 15 percent higher than in previous years. The company maintains offices in 5 countries to support these ongoing financial arrangements.
Sunfire, a green hydrogen producer based in Germany, serves as the primary case study for this model. Lightrock said on Tuesday that it enabled multiple limited partners to invest capital directly into the company alongside the firm. A spokesperson for the firm stated that these investors now hold a measurable equity position in the startup, which employs more than 500 people.
The financial terms of these co-investments remain private, though Lightrock confirmed that the deal structure allows for a minimum commitment of 1 million euros per participant. This arrangement provides Sunfire with additional liquidity to scale its manufacturing capacity by 20 percent over the next 24 months. The firm did not disclose the total amount of capital raised through this specific channel during the last quarter.
Lightrock expects to finalize three additional co-investment agreements before the end of Q4 2024. The firm will host a briefing for its limited partners on December 12 to discuss the performance of these direct holdings. No further details regarding future portfolio companies were provided in the statement released by the company on Tuesday.
