Q3 2026: NuCapital fund generates €0.75M in profit after fund fees and signs €11.5M in financing agreements
Private debt fund NuCapital generated approximately €0.75M in profit after fund fees in the third quarter of 2026, delivering a return to investors of 2.47% after fund fees during the period. Over the past 12 months, the fund’s return after fund fees was 9.16%, while the value of its investment units has increased by more than 85% since its inception in 2019.
As of 30 September 2026, the fund’s net asset value reached €32.75M, compared with €29.6M at the end of the second quarter.
One of the key results of the third quarter was an average capital deployment rate of 98%. This means that almost all of the fund’s capital was invested, reducing the negative impact of uninvested cash on investor returns.
“In private debt investing, what matters is not only the return generated by individual loans, but also how efficiently the fund’s capital is managed as a whole. In the third quarter, almost all investor capital was deployed, while we maintained an active pace of financing new projects. This enabled us to achieve a quarterly return after fund fees equivalent to an annualised rate of more than 10%,” says Ernestas Juozapaitis, Partner at NuCapital.
€11.5M in new financing agreements signed during the quarter
In the third quarter, the fund signed 8 new loan agreements with a total value of €11.5M. During the same period, €8.8M in loans was disbursed to business projects, while repayments of previously issued loans amounted to €4.7M.
Repaid funds were allocated to new financing opportunities, keeping capital in circulation and reducing periods when investor funds were not generating income. New investments also contributed to the fund’s growth, with investor contributions totalling €2.5M during the quarter.
According to Juozapaitis, demand for business financing remains strong, but the growing pipeline of projects does not mean that financing selection criteria are being relaxed.
“Our goal is not to finance as many projects as possible. We aim to select those with an appropriate risk-return balance, sufficient security and clear sources of loan repayment. Investment discipline remains more important to us than the pace of portfolio growth,” says Juozapaitis.
At the end of the third quarter, the fund was assessing 8 potential projects with a combined financing requirement of approximately €18M. It plans to select the 2–3 most promising financing transactions from this pipeline.
Focus on returns after fund fees and risk management
NuCapital specialises in providing short- and medium-term loans to businesses, primarily secured by real estate or other assets. At the end of September, the fund’s average loan size was €0.972M, the average loan interest rate was 12.65%, and the average loan-to-value ratio (LTV) was 57%.
In the near term, the fund plans to further improve capital management efficiency, maintain a high capital deployment rate and steadily expand its financing portfolio, prioritising investment quality.
NuCapital’s target annual return to investors after fund fees is 10%. The fund continues to accept new investments from informed investors. The minimum investment amount is €125,000.
Information for investors: https://www.nucapital.lt/en/for-investors
Information for businesses: https://www.nucapital.lt/en/business-financing
Investing involves risk. The fund’s past performance does not guarantee similar results in the future. The information provided does not constitute an investment offer or recommendation.
Fund management comapny:
1 Asset Management, UAB
Comapny code: 304405305
Address: Upės st. 21-1, Vilnius, 08128
© 2026 UAB I Asset Management, NuCapital fund. All rights reserved.
Investing inherently involves risk. The value of investments may increase or decrease over the investment period, and investors may receive less than the amount invested or lose their entire investment. The management company does not guarantee the return or profitability of investments. Investment decisions are made at the investor’s own responsibility; therefore, before making any investment decision, investors should independently or with the assistance of investment advisors evaluate the fund’s investment strategy, applicable fees, and potential risks associated with investing, as well as review the fund rules, prospectus, key investor information document, and other materials related to the distribution of the fund.
The information provided herein is for general informational purposes only and should not be considered complete or exhaustive. It should not be construed as a recommendation, offer, or invitation to acquire any specific financial instruments, nor should it be relied upon as the basis for entering into any transaction.
Nucapital is a closed-end fund whose units may be offered only to informed investors as defined under the Law of the Republic of Lithuania on Collective Investment Undertakings for Informed Investors. The fund units may not be offered, distributed, or transferred to persons who do not meet the requirements of an informed investor.
A closed-end investment private debt fund for informed investors
email: nucapital@1am.lt