Novacap Closes Tech Fund VII at Nearly $3.8 Billion

Pascal Tremblay, President & CEO and Managing Partner of Technologies and Digital Infrastructure, Novacap Business Wire

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Quickly exceeds $2.75 billion target, raising the Fund in under a year amid strong global investor demand

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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 technology buyouts. With the close of Tech VII – the latest fund in Novacap’s Technologies strategy, one of the Firm’s four sector-focused private equity buyout strategies – Novacap now manages more than US$12 billion in assets.

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Under President and CEO and Managing Partner of Technologies and Digital Infrastructure, Pascal Tremblay, Novacap has become a leading middle-market technology buyout investor. Tech VII will continue to build on the Firm’s multi-decade track record of investing in profitable, growing North American B2B software and technology-enabled services companies, complemented by significant experience executing cross-border add-on acquisitions. The strategy utilizes our partners’ deep sector expertise to identify attractive enterprises seeking a value-added partner to address operating challenges and accelerate growth, often through transformational global acquisitions.

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“We are honoured by the tremendous support we have received surrounding Tech VII and sincerely value the confidence and trust that our new and longstanding investor partners have placed in us,” said Pascal Tremblay. “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. Our Technologies strategy has a track record of driving transformational outcomes across market cycles, and we look forward to building on this legacy as we deploy Tech VII.”

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Beyond the Fund’s final close, Novacap has maintained strong investment momentum, driven by milestone exits and new platform activity across its technology-focused funds. Late last year, Novacap’s TMT VI fund completed its final platform investment with the US$1.9 billion privatization of Integral Ad Science (IAS), alongside significant co-investment from Novacap’s limited partners. And more recently, Novacap announced the signing of a definitive agreement for the sale of Eddyfi Technologies for US$1.45 billion.

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Together, these transactions underscore Novacap’s disciplined, full-lifecycle approach to technology investing – from Partner-led sourcing and scaling market-leading businesses to executing complex investments and positioning platforms for next-stage ownership.

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Novacap Technologies has completed 29 platform investments and more than 95 add-on acquisitions, alongside 16 full realizations and 2 partial exits – activity that reflects sustained investor confidence in the firm’s sector specialization and value creation capabilities. This specialization complements Novacap’s other core areas of focus, which include Digital Infrastructure, Financial Services, and Industries.

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Novacap was supported in this fundraise by UBS, serving as exclusive global placement agent, and Willkie Farr & Gallagher and Davies Ward Phillips & Vineberg, serving as fund counsel.

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About Novacap

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Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market and lower-middle market companies in four core sectors: Technologies, Digital Infrastructure, Industries, and Financial Services. Novacap combines deep sector specific expertise and strategic and operational excellence to partner with entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over US$12 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap accelerates value creation through strategic growth initiatives and a strong focus on execution.

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