Belgian private equity firm SmartFin Capital raised €240 million at the final close of its latest fund.

Investors in SmartFin Capital II included Belgian Growth Fund, ING Groep NV and BNP Paribas SA, technology entrepreneurs as well as industrial families. Alychio and institutional investor Belfius Insurance SA also backed the fund.

The fund will follow its predecessor's strategy and will invest in business to business technology companies in Europe.