CVC Capital Partners, a private equity and investment advisory firm, closed CVC Growth Partners Fund II, at $1.6 billion.
Fund II exceeded its $1 billion target and, including a sidecar co-investment vehicle, has secured commitments of $1.6 billion. Fund II enjoys a diverse global investor base, spread across North America, Europe, the Middle-East and Asia.
Led by John Clark, Managing Partner, the fund will continue the same investment strategy as its predecessor fund, investing in high-growth, mid-market companies in the software and technology-enabled business services sectors.
CVC’s Growth Partners platform invests primarily in North America and Europe, focusing on a variety of sectors including software, SaaS, managed services, cloud computing, mobility, payments, security, financial technology, healthcare information technology and other tech-enabled business services. The target equity investment size is $50 million to $250 million in North America and Europe.
Recent investments by CVC Growth Partners Fund I include:
– SheerID, an identity marketing solution provider, based in Portland, Oregon, US;
– ironSource, a global market leader in the high-growth mobile advertising and mobile gaming technology markets headquartered in Tel Aviv; and,
– Vitech, a provider of cloud-based financial administration solutions based in New York.
Launched in 2014, CVC Growth Partners is the growth-oriented middle-market technology investment arm of CVC Capital Partners that primarily targets equity investments between $50mn and $200mn in North America and Europe and manages over US$2.5 billion in assets across two dedicated funds.