EQT Partners, one of Europe's best-known buyout firms, has closed fundraising for its first venture-capital vehicle after securing commitments in excess of its €500 million target for the fund, plans for which first emerged last summer.

EQT said in a May 26 statement that its EQT Ventures arm had secured €566 million in commitments from investors including HarbourVest Partners and one of Sweden's national pension funds, and that it had duly closed the fundraising effort.