European mid-market tech investor Tenzing has scored an impressive 9.6x return selling CitNOW Group to UK private equity house Livingbridge.
Tenzing sealed a 74% IRR from the sale, which comes four years after the firm bought into the sales conversion software for car dealerships specialist using its £200m debut fund.
The firm said it had such high conviction about the additional value CitNOW can create that it has “materially reinvested” from both Tenzing Fund II and Tenzing Belay alongside Livingbridge.
Read more: Alt Assets
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