Alternative investment firm Investcorp announced the final closing of its Investcorp Technology Partners V (ITP V) fund, which has $570 million in total commitments. The fund exceeded the $500 million target with commitments from new and existing LPs in Europe, North America, Asia, and the GCC.
ITP V continues Investcorp’s lower mid-market technology strategy, established over twenty years ago to target growing B2B technology companies with proven products and end markets. ITP V will seek to invest in companies globally in software, data/analytics, cybersecurity, and fintech.
This fund will take controlling stakes in companies with revenues of $10 million or more and positive EBITDA that require equity investments of between $30 million and $75 million, often as the first institutional investor.
ITP V has already made four investments in companies that span each of the fund’s specific focus areas. And these include VEDA (HR software, Germany), HWG Sababa (cybersecurity, Italy), Zift Solutions (PRM software, USA), and NetRom (software engineering, the Netherlands).
ITP V is the successor to the $400 million fund ITP IV – which invested in companies such as softgarden (HR software, Germany), Avira (cybersecurity, Germany), Ageras (accountancy software, Denmark), and Impero (education software, US).
KEY QUOTES:
“We are excited to announce the final close of ITP V today. Over the past 20 years, we have developed a proven formula for investing in B2B technology businesses in the lower middle market that has enabled us to consistently achieve attractive returns for our investors. We pride ourselves on remaining disciplined on entry valuations throughout cycles, being hands-on partners to founders and focusing on a small subset of sectors with long-term tailwinds. ITP V marks the continuation of this successful strategy and we are truly grateful for the trust that our investors have once again placed in us.”
– Gilbert Kamieniecky, Head of European Private Equity at Investcorp
“We appreciate the support of our existing and new investors in the ITP V fundraise. We are looking forward to continuing to execute our tried and tested mid-market technology investment strategy that has proven successful throughout market cycles. By leveraging Investcorp’s scale and global reach, our team and this fund is strongly positioned to invest in and partner with promising companies and help accelerate their growth.”
– Hazem Ben-Gacem, Co-CEO of Investcorp
