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Laxman Pai, Opalesque Asia: Global buyout firm CVC Capital Partners has raised $1.6 billion to invest in growing technology companies.
The new fund, CVC Growth Partners Fund II, is more than 50% larger than the firm's first tech-focused fund, which closed with $1 billion in 2016. That fund has backed 10 companies, including a recently announced investment in SheerID Inc., which helps companies such as Amazon.com Inc., Comcast Corp. and Target Corp.
Fund II enjoys a diverse global investor base, spread across North America, Europe, the Middle-East and Asia.
CVC's Growth Partners platform invests primarily in North America and Europe, focusing on a variety of sectors including software, SaaS, managed services, cloud computing, mobility, payments, security, financial technology, healthcare information technology, and other tech-enabled business services. The target equity investment size is $50 million to $250 million.
John Clark, Managing Partner and Head of the CVC Growth Partners team, said: "We are grateful to our existing global investor base, who have strongly supported Fund II, and to our new investors, for helping us to secure $1.6 billion for CVC's second Growth Fund raise.
"As part of CVC's global network, we enjoy access to a broad and deep pipeline of exciting investment opportunities. The companies we partner with often operate in competitive markets and face significant challenges on their journey to success. That is where we come in;...................... To view our full article Click here
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