Bain Capital has raised more than $2 billion for its latest Tech Opportunities Fund and plans to use part of the investment to expand its dealmaking in Europe.

The private equity firm has surpassed its $1.5 billion target for the fund and expects to close in the near future, a person familiar with the matter said, asking not to be identified because the plans are private. That’s up from the $1.3 billion Bain raised for the first, US-focused fund, which launched in 2019.

Bain’s tech opportunities strategy has backed companies in Europe such as UK fintech company SumUp. Investors are interested in sectors where they believe Europe is producing global leaders such as payments and cybersecurity, Bain executives said.

Read more: BNN Bloomberg