The fund was oversubscribed beyond its initial target, and with investor consent, its size was increased accordingly. Fund II is supported by prominent development finance institutions—the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), and the International Finance Corporation (IFC)—alongside institutional asset managers and over €50 million in entrepreneurial capital. 

This makes Morphosis Capital the only PE firm with a majority focus on Romania to have secured funding from all three major international financial institutions.

Andrei Gemeneanu, Managing Partner at Morphosis Capital, said: "Closing a €130 million fund against the backdrop of macroeconomic uncertainty and political volatility is an extraordinary achievement. When we launched this effort, the idea of doubling the size of our first fund sounded ambitious. The 2023-2025 period when we were fundraising was marked by a high degree of volatility—locally, regionally, and globally. And yet, the continued trust of investors, from global institutions to Romanian entrepreneurs, validated our approach."

Morphosis Capital Fund II will focus on investments in small and medium-sized enterprises (SMEs) within sectors such as healthcare, B2B services, consumer products and retail, and niche manufacturing. 

The fund aims to deploy tickets between €10 and €15 million in companies with EBITDA ranging from €1 million to €5 million. It will pursue investments in Romania and other countries in the region, including Bulgaria, Croatia, Czechia, Poland, and Slovakia. 

So far, the fund has already made three investments: Romania Education Alliance (REA), a private education platform; La Cocoș, a Romanian hard discounter hypermarket chain; and EnduroSat, a European provider of high-end satellites, which marks the fund's first cross-border investment.