Investcorp, an alternative investment firm, has announced the final closing of its Investcorp Technology Partners V (ITP V) fund at $570 million in total commitments. The fund exceeded its $500 million target with commitments from new and existing LPs in Europe, North America, Asia, and the GCC.
ITP V marks the continuation of Investcorp’s lower mid-market technology strategy, which was established over 20 years ago to target growing B2B technology companies with proven products and end markets. ITP V will seek to invest in companies globally within software, data/analytics, cybersecurity, and fintech.
The fund will look to take controlling stakes in companies with around $10 million or more in revenues and positive EBITDA that require equity investments of between $30-75 million, often as the first institutional investor.
Investments by ITP V
ITP V has already made four investments in companies that span each of the fund’s specific focus areas. These include VEDA, an HR software from Germany; HWG Sababa, a cybersecurity company from Italy; Zift Solutions, a PRM software from the US; and NetRom, a software engineering company from the Netherlands.
ITP V is the successor to the $400 million fund ITP IV, which invested in companies such as softgarden, an HR software from Germany; Avira, a cybersecurity company from Germany; Ageras, an accountancy software from Denmark; and Impero, an education software from the US.
All about Investcorp
Investcorp specialies in alternative investments across four asset classes: Private Equity, Real Assets, Credit, and Liquid Strategies. It invests capital in its products and strategies, aligning interests with its clients and other stakeholders.
Currently, Investcorp manages $52 billion in assets, including assets managed by third-party managers. Founded in Bahrain in 1982, it has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs nearly 500 people from 50 nationalities globally.
Gilbert Kamieniecky, Head of European Private Equity at Investcorp, said: “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.”
Hazem Ben-Gacem, Co-CEO of Investcorp, said: “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.”
