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    Home»Fundraising»Novacap raises record $1.865bn for TMT VI
    Fundraising

    Novacap raises record $1.865bn for TMT VI

    February 18, 20211 Min Read
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    Canadian private equity firm Novacap has closed the Novacap TMT VI at $1.865 billion, making it the largest fund raised by the firm to date. The total includes significant commitments from Novacap’s partners and employees as well as from the Novacap Executive Fund.

    Virtually all investors in the firm’s TMT V vehicle committed to TMT VI, which was significantly oversubscribed, exceeding its target of USD1 billion. The investor base for TMT VI includes sovereign wealth funds, public and corporate pension plans, insurance companies, endowments and foundations, family offices and advisory firms.

    The Fund will continue the strategy of Novacap’s previous TMT funds by making control growth investments in profitable technology and technology-enabled businesses. Sectors of interest include software, business services, internet infrastructure, and e-commerce, including solutions in the energy and healthcare markets.

     

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    Source: Private Equity Wire

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