Montreal-based private equity firm Novacap has closed its Technologies Fund VII with nearly US$3.8 billion in commitments, exceeding its US$2.75 billion target in under a year. The fund will continue Novacap’s focus on North American middle-market B2B software and technology-enabled services companies. With the close, Novacap now manages more than US$12 billion in assets.
President and CEO Pascal Tremblay said investor demand reflects confidence in the firm’s disciplined technology buyout strategy. Recent activity includes the US$1.9 billion privatization of Integral Ad Science and the US$1.45 billion sale of Eddyfi Technologies.
Want to know more? Check out the source code on BusinessWire.com.