Investcorp closes $570M fund for cybersecurity and fintech

Investcorp has closed its Investcorp Technology Partners V (ITP V) fund at $570M, exceeding its $500M target. The capital will be invested in software, data/analytics, cybersecurity and fintech startups.

Investcorp manages $52 billion in assets and has 14 offices in the US, Europe, GCC and Asia, including India, China, Japan and Singapore. Its previous $400 million fund drove the sucesses of softgarden, Avira, Ageras and Impero.

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 from the newest fund have already started with its recipients including VEDA, HWG Sababa, Zift Solutions and NetRom.

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.”