CVC Capital Partners Joins Investor Group Backing Odevo

Odevo announced that CVC Capital Partners, through its CVC Capital Partners Fund IX, have agreed to invest in the tech-enabled residential property management company alongside a group of investors led by investment firm Fidelio Capital and its existing management team.

Founded in 2018 by Fidelio, Sweden-based Odevo helps residential property owners manage all aspects of their building, ranging from accounting, administration, invoicing and on-site services to renovations.

Through organic growth and working with over 50 entrepreneurs across Europe and the U.S., the company has expanded more than 50x, according to Odevo, now managing 1.4 million homes with more than 7,000 employees.

CVC will be represented on the Board by Søren Vestergaard-Poulsen, Lave Beck-Friis and John Zacharias.

“Odevo’s decentralized approach, which empowers local management to run their businesses independently while benefiting from the support and opportunities of being part of a global group, aligns perfectly with our philosophy,” said Beck-Friis, managing director, CVC.

CVC Capital Partners Fund IX is the private equity firm’s most recent fund, which closed at €26 billion ($28.8 billion) in 2023, invests in Nordic companies and globally.