According to Asset Finance International, European investment company Idinvest Partners plans to use its latest funding round to grow its equipment financing capabilities.

Asset Finance reported the Idinvest SME Industrial Assets fund (ISIA) closed at €340 million (over $379 million). ISIA is the first diversified fund concentrated on financing the modernisation of production tools for European small and medium enterprises.

Asset Finance quotes Idinvest Partner Sylvain Makaya as saying, “We are delighted with the success of this fundraising and the very high level of demand from investors. We chose to close the fund at this stage to prioritize the deployment of capital, given the need for flexible financing solutions to help European SMEs respond to the challenges of competitiveness and productivity that they are confronted with, and ensure they have access to the modern industrial equipment they need.”