Mubasher: Investcorp Technology Partners (ITP) on Monday announced closing the transfer of its remaining two portfolio companies in ITP Fund III, with a total enterprise value of $185 million to Investcorp Secondary Fund 2018 L.P., a continuation vehicle supported by HarbourVest.
ITP, which is the technology private equity arm of Bahrain-based private equity firm Investcorp, will be able to increase the value creation potential of these two companies through injecting fresh capital over an additional holding period, according to an official statement.
The leading European lower middle market technology investor focuses on investing in fast-growing founder-owned, European headquartered businesses with equity cheques of $25-$50 million.
Investcorp has raised over $1.5 billion in funding for lower middle market technology investments since 2001.
ITP Fund III “has performed very well in recent years. This commitment from HarbourVest demonstrates their belief in us as one of the leading lower mid-market investors in Europe,” said Hazem Ben-Gacem, Investcorp’s co-chief executive officer and a managing partner of the Investcorp Technology Partners
