Novacap has held the final close of Novacap Technologies Fund VII, raising nearly $3.8 billion in capital commitments, including affiliated vehicles, after completing the fundraise in less than a year. 

The fund exceeded its original target and marks the firm’s largest vehicle to date. Tech VII will continue Novacap’s long-standing strategy of investing in profitable, growing North American B2B software and technology-enabled services companies. 

“Closing our largest fund to date, at high velocity and above our target, despite a challenging fundraising environment, reflects the conviction global investors have in our disciplined, time-tested approach to technology buyouts and our focus on partnership and value creation,” said Pascal Tremblay, President and CEO and Managing Partner of Technologies and Digital Infrastructure. 

The raise follows several notable transactions. In late 2025, Novacap’s TMT VI fund completed its final platform investment with the $1.9 billion privatization of Integral Ad Science (IAS), alongside significant co-investment from limited partners. More recently, the firm signed a definitive agreement to sell Eddyfi Technologies for $1.45 billion. 

To date, Novacap Technologies has completed 29 platform investments and more than 95 add-on acquisitions, along with 16 full realizations and two partial exits. The firm oversees approximately $12 billion in assets across offices in Montreal, Toronto, and New York. 

UBS served as exclusive global placement agent, with Willkie Farr & Gallagher and Davies Ward Phillips & Vineberg acting as fund counsel. 

Pictured: Pascal Tremblay, President & CEO and Managing Partner of Technologies and Digital Infrastructure