CVC Capital Partners has surpassed the target for its second growth fund to close on $1.6bn.
Its vehicle, CVC Growth Partners Fund II, will mainly invest in North America and Europe, in sectors including FinTech, SaaS, managed services, cloud computing, mobility, payments, security, healthcare information technology and other tech-enabled business services.
Investments from the fund will be between $50m and $250m.
Some of its portfolio companies include identity marketing solution provider SheerID and mobile advertising solution ironSource
CVC Growth Partners managing partner John Clark, said: “We are grateful to our existing global investor base, who have strongly supported Fund II, and to our new investors, for helping us to secure $1.6 billion for CVC’s second Growth Fund raise.
“As part of CVC’s global network we enjoy access to a broad and deep pipeline of exciting investment opportunities. The companies we partner with often operate in competitive markets and face significant challenges on their journey to success. That is where we come in; we collaborate with their management teams to help them overcome obstacles to growth, and to successfully execute their strategy, so that they can become leaders in their field.”
Last year, CVC invested into cloud-based financial administration provider Vitech Systems. The New York-headquartered company offer software for pension, insurance and investment organizations to improve their efficiency.
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