Bahrain’s asset manager Investcorp has announced the closing of its Investcorp Technology Partners (ITP V) fund at $570 million, after exceeding the $500 million target.
ITP V will invest in software, data analytics, cybersecurity and fintech companies valued at $10 million or more that require investments of between $30 and $75 million.
ITP V has already made four investments in companies that span each of the fund’s specific focus areas. These include Germany’s HR software company VEDA, Italy’s cybersecurity platform HWG Sababa, US-based Zift Solutions and Dutch firm NetRom.
The fund has commitments from new and existing limited partners (LPs) in Europe, North America, Asia and the GCC, the company added in a statement.
“We are excited to announce the final close of ITP V today,” said Gilbert Kamieniecky, Head of European Private Equity at Investcorp. “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.”
ITP V is the successor to the $400 million fund ITP IV, which invested in companies such as softgarden, Avira, Ageras and Impero.
Investcorp currently holds about $52 billion in assets under management. In February, Investcorp reported a net profit of $21 million for the period between July and December 2024, in its first results following its debut on the Abu Dhabi Stock Exchange (ADX) in November.
