Novacap Closes Tech Fund VII at Nearly $3.8 Billion

Novacap (the “Firm”), a leading North American private equity firm, today announced the final close of Novacap Technologies Fund VII (“Tech VII” or the “Fund”), with nearly US$3.8 billion in capital commitments, including affiliated vehicles. The Fund was raised in under a year, quickly exceeding its target of US$2.75 billion by over $1 billion, highlighting Novacap’s longstanding focus on disciplined, value-added technology buyouts. With the close of Tech VII – the latest fund in Novacap’s Technologies strategy, one of the Firm’s four sector-focused private equity buyout strategies – Novacap now manages more than US$12 billion in assets.

Under President and CEO and Managing Partner of Technologies and Digital Infrastructure, Pascal Tremblay, Novacap has become a leading middle-market technology buyout investor. Tech VII will continue to build on the Firm’s multi-decade track record of investing in profitable, growing North American B2B software and technology-enabled services companies, complemented by significant experience executing cross-border add-on acquisitions. The strategy utilizes our partners’ deep sector expertise to identify attractive enterprises seeking a value-added partner to address operating challenges and accelerate growth, often through transformational global acquisitions.