Novacap, a Montreal, Canada-based private equity firm, closed its fifth fund, at $840m.
Limited partners in NOVACAP TMT V included public and corporate pension funds, insurance companies, endowments, foundations, family offices and individual investors in Canada, the U.S., Europe and Australia.
The fund will focus on making individual investments ranging from $20m to $100m in companies operating in the software, internet infrastructure and e-commerce sectors and advancing industry-specific technology solutions in the energy, healthcare and other vertical markets in order to support them with organic growth initiatives and drive strategic acquisitions.
TMT V will be led by its partners Pascal Tremblay, Stéphane Tremblay, François Laflamme, Ted Mocarski, Étienne Veilleux and Yong Kwon.
Founded in 1981, Novacap has $2.26 billion of assets under management.