BV Investment Partners, a private equity firm focused on tech-enabled business services and solutions, said it has completed fundraising for BVIP Fund XII at its hard cap of $2.465 billion, exceeding an initial target of $2 billion.
The firm said Fund XII reached its first and final close on Jan. 5, 2026, after launching in fall 2025, highlighting a rapid fundraising process and a strong re-up rate from existing limited partners. BV said the fund will continue its strategy of investing alongside founders, management teams, and families, using technology and operational improvements to accelerate portfolio company growth.
BV said its prior Fund XI, a 2022 vintage fund, closed at its $1.75 billion hard cap, above a $1.5 billion target, and is fully committed. The firm said it has executed platform investments in recent years and returned capital through realizations over the past two years, helping set the stage for the new raise.
Fund XII’s investor base includes sovereign wealth funds, foundations, public and corporate pension plans, financial institutions, and family offices, BV said, adding that it expanded its geographic reach with limited partners from East Asia and Latin America and added new cornerstone investors from Europe and North America. BV also said the general partner is committing about 4.7% of total commitments.
Support: Evercore Private Funds Group served as placement agent and Ropes & Gray provided legal counsel.
KEY QUOTES:
“We are grateful to our existing and new investors for their support. We also want to thank the portfolio company stakeholders who have collaborated extensively with us in driving many portfolio realizations over the last two years, paving the way for this fundraise. As we look ahead, we see tremendous opportunities to leverage new technologies to build impactful business solutions companies. We have an active pipeline and look forward to announcing the Fund’s first investments shortly.”
Vikrant Raina, Chief Executive Officer, BV Investment Partners
“I believe the successful outcome of the Fund XII capital raise is a testament to the Firm’s consistency in strategy, team and performance. In a market often characterized by product proliferation and strategy drift, we have remained steadfast in our core tenet of operationally focused investing. We are thrilled that our existing investors have chosen to invest with BV again, and we welcome new investors who align with our investment philosophy. We will continue to invest in our team to support the growth in Fund size. Sam Axelrod’s promotion is not only well deserved but key to our portfolio construction plans. Our team is a key differentiator, fully committed to delivering the performance expected of us.”
Maggie Carter, President and Chief Operating Officer, BV Investment Partners
