Fintech
Investcorp closes $570 million cybersecurity and fintech fund
Investcorp closed its Investcorp Technology Partners V (ITP V) fund at $570 million, exceeding its $500 million target. The capital will be invested in software, data/analytics, cybersecurity and fintech startups.
Investcorp manages $52 billion in assets and has 14 offices across the US, Europe, GCC and Asia, including India, China, Japan and Singapore. Its previous $400 million fund drove the success of Softgarden, Avira, Ageras and Impero.
The fund will seek to take controlling stakes in companies with approximately $10 million or more in revenues and positive EBITDA requiring equity investments of between $30 million and $75 million, often as an early institutional investor.
Investments from the latest fund have already begun with its recipients including VEDA, HWG Sababa, Zift Solutions and NetRom.
Gilbert Kamieniecky, Head of European Private Equity at Investcorp, said: “We are thrilled to announce the final close of ITP V today. Over the last 20 years, we have developed a proven formula for investing in B2B technology companies in the lower middle market that has allowed us to consistently obtain attractive returns for our investors.
“We pride ourselves on remaining disciplined in entry assessments across cycles, being hands-on partners with founders, and focusing on a small subset of industries with long-term tailwinds. ITP V marks the continuation of this successful strategy and we are truly grateful for the trust our investors have placed in us once again.”
Hazem Ben-Gacem, Co-CEO of Investcorp, said: “We appreciate the support of our existing and new investors in the ITP V fundraising. We look forward to continuing to execute our proven mid-market technology investment strategy which has proven successful during market cycles. By leveraging Investcorp’s global scale and reach, our team and this fund are strongly positioned to invest in and partner with promising companies and help accelerate their growth.”