Novacap raises $3.8-billion for latest technology fund

Novacap Closes Tech Fund VII at Nearly $3.8 Billion

MONTREAL & NEW YORK -- Novacap (the “Firm”), a leading North American private equity firm, today announced the final close of Novacap Technologies Fund VII (“Tech VII” or the “Fund”), with nearly US$3.8 billion in capital commitments, including affiliated vehicles. The Fund was raised in under a year, quickly exceeding its target of US$2.75 billion by over $1 billion, highlighting Novacap’s longstanding focus on disciplined, value-added technolo…

Novacap raises $3.8-billion for latest technology fund

Montreal-based private equity firm’s new fund represents largest fundraising effort it has completed since being founded

Private equity firm Novacap closes seventh and largest tech fund

Montréal-based Novacap has closed nearly $3.8 billion USD ($5.2 billion CAD) for its seventh tech-focused private equity fund that will continue the firm’s strategy of buying majority stakes in profitable companies.  The new fund thesis “reflects continuity rather than change.” The fund, which exceeded its target of $2.75 billion USD and was raised in under a year, will maintain the same investment approach as Novacap’s previous tech fund, acco…