BV Investment Partners Closes 11th Software, IT-Focused Fund at $1.75B
BV Investment Partners, a private equity firm focused on the tech-enabled business services, software and IT services sectors, has completed fundraising for its 11th fund, BV Investment Partners Fund XI, at its hard cap of $1.75 billion, exceeding its target of $1.5 billion.
The fund has already committed to seven platform investments. Since its founding in 1983, the Boston-based firm has generated over $9.8 billion of total value and invested in 117 platform companies across 11 funds. BV raised Fund X in 2020 with $1.1 billion of commitments.
“Faced with strong headwinds in the current fundraising environment, I believe the successful outcome of the Fund XI capital raise is a testament to the Firm’s consistency in strategy, team and performance,” said BV president and COO Maggie Carter.
BV largely makes control and minority investments in North American businesses with EBITDA between $5 million and $20 million.
Recent acquisitions include the purchase and merger of NOVIGO and Krypt to become ArchLynk, a firm that specializes in end-to-end SAP digital supply chain solutions.
Evercore served as Placement Agent for the fund and Ropes & Gray LLP provided legal counsel.