Vitruvian Partners will begin marketing its sixth flagship fund by year-end, just over two years after closing its predecessor vehicle, five sources familiar with the matter said.

A formal target has not been set, one of the sources said.

However, the international investment firm is likely to seek at least EUR 8bn, the second source and two further sources familiar with the situation said.

A fund filing for Vitruvian VI was registered in Luxembourg last month.

UBS will be supporting as a placement agent, three of the sources said.

The upcoming fundraise comes after London-headquartered group announced a final close for Vitruvian Investment Partners V (VIP V) at EUR 7.3bn, sailing past a target of EUR 6.5bn in September 2024.

VIP V would continue Vitruvian’s proprietary thematic investment strategy of Dynamic Situations, the announcement said. The group’s ‘Dynamic Situations’ approach is characterised by high growth and change across asset-light industries, as per its website.

VIP V, a 2024-vintage vehicle, has already began bringing in returns to LPs, with proceeds from one exit and recapitalisations helping propel its net internal rate (IRR) of more than 20%, one of the sources said.

Recently announced exits include Turtlemint Fintech Solutions and Raisin in 2026, alongside Carne, Pine Labs, and Azul Systems in 2025.

Earlier this month, Mergermarket also reported Vitruvian had tapped Jefferies to explore a sale of Scrive, a Swedish digital-signature and identity solutions provider.

Vitruvian operates over 10 offices and has backed over 100 companies, overseeing assets under management (AUM) of around EUR 20bn, according to its website.

Vitruvian and UBS declined to comment.