Morphosis Capital is a private equity firm based in Romania that focuses on supporting small and medium-sized enterprises (SMEs) in Central and Eastern Europe. Founded with the vision of bridging the growth capital gap in the region, Morphosis partners with ambitious companies that are positioned to scale locally and internationally. Its strategy blends institutional stability with entrepreneurial capital, making it a distinctive player in the CEE private equity landscape.
The firm targets SMEs with EBITDA between €1 million and €5 million, typically businesses with strong local foundations and clear opportunities for regional expansion.
Sector priorities include healthcare, B2B services, consumer products, retail, and niche manufacturing.
Morphosis seeks to back companies with both commercial strength and the ability to deliver long-term social or ecosystem impact.
In September 2025, Morphosis Capital announced the close of its second fund, Morphosis Capital Fund II, at €130 million, surpassing its original hard cap.
The fund secured commitments from major institutional backers including the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), and the International Finance Corporation (IFC). Over €50 million was also contributed by successful Western European entrepreneurs, underscoring a blended LP base of institutional stability and entrepreneurial spirit.
Fund II is designed to provide growth equity investments of €10 million to €15 million per transaction, typically acquiring majority or joint-control positions in SMEs.
The fund’s geographic coverage spans Romania, Bulgaria, Croatia, the Czech Republic, Poland, and Slovakia. By targeting companies with EBITDA between €1 million and €5 million, the fund addresses a structural gap in regional financing, enabling businesses to accelerate growth, professionalize operations, and pursue cross-border expansion.
Morphosis anticipates completing two to three new transactions annually over the next several years.
Romania
