The continuation fund houses eight assets, with five to six making up the bulk of net asset value, Secondaries Investor understands. This structure marks EQT's first foray into a multi-asset continuation vehicle for its venture capital portfolio.

HarbourVest Partners has taken the lead on the vehicle, which holds a portfolio of VC assets involving technology that EQT has under its hold. The deal underscores growing demand for secondary solutions in the venture space.

EQT ran the €526 million continuation vehicle on its EQT Ventures I fund, which originally closed on €566 million in 2016, surpassing its €500 million target, according to a statement and PEI Group data.