Volpi Capital, the UK-based mid-market investor, has closed its maiden fund at its hard cap of €185m.
The firm invests in Northern European B2B companies with transformational growth opportunities provided by technology, software innovation and the use of data with an enterprise value of up to €200m.
Volpi Capital Fund I received backing from both European and US institutional investors including insurance companies, pension funds and fund of funds.
It has already made three investments, backing Irish IT services company Version 1; UK healthcare insourcing services provider Medinet; and video surveillance provider Digital Barriers.
Volpi Capital was founded by former Veronis Suhler Stevenson European head Marco Sodi and former head of TMT at 3i Crevan O’Grady.
O’Grady said: “The increasing application of technology, innovations in software and the explosion in the use of data are transforming the way many companies operate. This is leading to the emergence of disruptive, rapidly growing, B2B business models that improve the efficiency and productivity through which business critical functions are conducted.
“Building on our previous experience and history of working together, we believe that Volpi Capital is well-placed to capture the attractive growth opportunities in this robust, yet underserved market,” he added.
Volpi Capital was advised by Rede Partners and MJ Hudson on the fundraise.