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Laxman Pai, Opalesque Asia:

Tenzing, a growth equity investor specializing in tech and tech-enabled businesses in the UK and Europe, has soared past GBP900m ($1.15bn) for its third fund, making the new vehicle more than double the size of its predecessor and closed at its hard cap, with excess demand.

According to a media release from the UK-based alternative investment firm, this fundraise enables Tenzing to continue backing ambitious Founders and management teams across Europe who share its vision of building high growth, tech, and tech-enabled businesses into independent powerhouses.

"The Tenzing III portfolio already includes two, high growth software platforms, after Tenzing partnered with Totara and Webexpenses at the end of last year," it said.

Guy Gillon, CEO and Co-Founding Partner at Tenzing said: "We're delighted to have closed Tenzing III at its hard cap and for our investors' continued belief in what we are building. This raise gives us €1bn of firepower to invest in B2B tech and tech-enabled champions across Europe, where we now have teams on the ground in Germany and the Nordics."

Tenzing's Founders have always focused on building a team that they would want to invest alongside, and one that bears out the Firm's core values, said the media release. Today, that team is one of the largest in the market relative to AuM, with over 50 people across London, Munich and Stockholm.

"Tenzing continues to innovate to provide its portfolio companies......................

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