Diversis Capital Closes $1.2B Fund to Accelerate Growth in Software and Tech-Enabled Services
Diversis Capital Management, LP, a Los Angeles-based private equity firm specializing in software and technology-enabled services, announced the final close of Diversis Capital Partners III, L.P., with over $1.2 billion in total commitments. The oversubscribed fund exceeded its $850 million target, reaching its hard cap with strong participation from a diverse mix of new and existing global institutional investors.
The close marks a milestone for Diversis, bringing the firm’s total assets under management to more than $3 billion, up from $680 million raised for its prior vehicle, Fund II, in 2021.
Fund III will continue Diversis’ operationally focused control investment strategy, targeting lower middle-market companies primarily across North America, with selective investments in Europe and Australia. The firm focuses on businesses with the potential to scale through strategic execution, innovation, and technology enablement.
“We’ve seen tremendous success bringing best practices, innovation, and AI experience from our deep bench of operating partners to create scale and build long-term value across our portfolio,” said Kevin Ma, co-founder and managing partner at Diversis. “We’re excited to double down on executing that strategy with our new fund.”
Fund III attracted commitments from a diverse global base of institutional backers, including endowments and foundations, investment advisers and fund-of-funds, public and private pension plans, family offices, and financial and insurance institutions.
William Blair acted as exclusive global placement agent, while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.