Accent Equity Partners, the Nordic firm created from the merger of Nordico and Euroventures in April, has raised €100m ($109m) from existing investors, after producing annualised returns of 80%.

The returns, stated before the deduction of fees, by far exceed the European average of 14% over 10 years, according to the European Private Equity and Venture Capital Association (EVCA). Funds managed by Accent Equity Partners' predecessor firms since the mid-1980s have realised 30 exits from 50 investments, giving investors five times their capital.