BV Investment Partners, a Boston, MA-based private equity firm that focuses on the tech-enabled business services and solutions sectors, closed its Fund XII, at $2.465 Billion.
The investor base included a diverse group of global sovereign wealth funds, foundations, public and corporate pension plans, financial institutions, and family offices. In addition to expanding its geographic reach with high-profile limited partners from East Asia and Latin America, the firm added new investors from Europe and North America. This support complements the continued participation from BV’s investor base. Additionally, the General Partner is committing approximately 4.7% of the Fund’s total commitments.
Led by CEO Vikrant Raina, and President and Chief Operating Officer Maggie Carter, BV Investment Partners is a sector-focused private equity firm in North America with over $7.5 Billion of assets under management. It targets the tech-enabled business services and solutions sectors. To date, it has completed 50 investments and realized or substantially exited 22 companies.
BV’s previous Fund XI, a 2022 vintage fund, met its hard cap of $1.75 billion, exceeding its target of $1.5 billion and is fully committed. Consistent with its predecessor funds, Fund XII will continue BV’s practice of investing alongside founders, management, and families to implement technology and operational improvements to accelerate the growth of portfolio businesses.
The BV team is led by 10 Partners, including recently promoted Sam Axelrod, who joined the firm in 2019 as a Senior Associate and contributed to some of the firm’s most successful recent exits as well as leading investments in the firm’s MSP strategy.