Novacap, a leading North American private equity firm, announced the final close of Novacap Technologies Fund VII, with nearly $3.8 billion in capital commitments, including affiliated vehicles. The fund was raised in under a year, surpassing its $2.75 billion target by more than $1 billion amid strong global investor demand.
With the close of the seventh fund in its Technologies strategy, one of the firm’s four sector-focused private equity buyout strategies, Novacap now manages more than $12 billion in assets.
Under President and CEO and Managing Partner of Technologies and Digital Infrastructure Pascal Tremblay, Novacap has established itself as a leading middle-market technology buyout investor. The new fund will continue the firm’s longstanding focus on profitable, growing North American B2B software and technology-enabled services companies, leveraging deep sector expertise and experience executing cross-border add-on acquisitions. The strategy centers on identifying enterprises seeking a value-added partner to address operational challenges and accelerate growth, often through transformational global acquisitions.
Beyond the fundraising, Novacap highlighted continued investment momentum across its technology-focused strategies. Late last year, its TMT VI fund completed its final platform investment with the $1.9 billion privatization of Integral Ad Science, alongside significant co-investment from limited partners. More recently, the firm announced the signing of a definitive agreement to sell Eddyfi Technologies for $1.45 billion. The firm said these transactions reflect its disciplined, full-lifecycle approach to technology investing, from partner-led sourcing and scaling of market-leading businesses to executing complex investments and positioning platforms for next-stage ownership.
Since its inception, Novacap Technologies has completed 29 platform investments and more than 95 add-on acquisitions, along with 16 full realizations and two partial exits. The firm’s sector specialization in technology complements its other core focus areas of Digital Infrastructure, Financial Services, and Industries.
Founded in 1981, Novacap focuses on middle-market and lower-middle-market companies across its four core sectors. The firm has made primary and add-on investments in more than 250 companies and maintains offices in Montreal, Toronto, and New York.
Support: Novacap was supported in the fundraising by UBS as the exclusive global placement agent, with Willkie Farr & Gallagher and Davies Ward Phillips & Vineberg serving as fund counsel.
KEY QUOTE:
“We are honoured by the tremendous support we have received surrounding Tech VII and sincerely value the confidence and trust that our new and longstanding investor partners have placed in us. Closing our largest fund to date, at high velocity and above our target, despite a challenging fundraising environment, reflects the conviction global investors have in our disciplined, time-tested approach to technology buyouts and our focus on partnership and value creation. Our Technologies strategy has a track record of driving transformational outcomes across market cycles, and we look forward to building on this legacy as we deploy Tech VII.”
Pascal Tremblay, President and CEO and Managing Partner of Technologies and Digital Infrastructure at Novacap
