BV Investment Partners has held a final closing for BV Investment Partners Fund VIII, above the fund’s $400 million target, and at its hard cap of $487 million.
Investors in Fund VIII consist of both first time investors and returning investors from BV’s prior funds and include a group of global institutional investors, public pension plans, fund of funds, and major family offices. Evercore Partners (www.evercore.com) served as the placement agent for BV in raising the new fund.
“We would like to thank our limited partners for their support and endorsement of our investment strategy and team. We are well positioned to continue our successful strategy of partnering with entrepreneurs and management teams of innovative companies that can benefit from our operational expertise and financial resources,” said Vikrant Raina, Managing Partner of BV. “We are evaluating many exciting new high growth companies to add to the Fund VIII portfolio. I am confident we have the team, strategy, and targeted opportunity set to provide the strong investment returns expected of us.”
Fund VIII will continue to focus on lower middle-market information and business services and communications opportunities. The firm has already completed two investments for Fund VIII – The Efficient Collaborative Retail Marketing Company (www.ecrm.marketgate.com), an integrated marketing services, software, and data provider serving consumer product manufacturers and retailers; and INetU (www.inetu.net), a provider of managed hosting and cloud services to enterprise customers. According to BV, both portfolio companies address large market opportunities, are growing rapidly, and have created significant value for Fund VIII.
“The success of this fundraise is attributed to the strong performance of the early investments in Fund VIII and the prior fund, Fund VII; the firm’s high quality management team and network of operating advisors; as well as its long term track record of successfully executing on its strategy,” said Maggie Carter, Director of Investor Relations & Marketing. “With the help of Evercore Partners we have expanded our reach of limited partners in Fund VIII throughout Europe. We are very pleased with the strong investor base committed to Fund VIII and we look forward to building long term partnerships with our investors.”
BV Investment Partners makes investments in companies active in the information and business services, communications and media industries. Since its founding in 1983, the firm has invested $2.6 billion in 80 companies. With the closing of the new fund, BV has recently expanded its team and added two new investment professionals and an additional advisory board member to its 13 person operating advisory board. BV Investment Partners has offices in Boston and New York (www.bvlp.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 9-2-14
