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ABS Capital closes first continuation fund

ABS Capital (ABS), a growth equity firm with over 30 years of experience scaling software and tech-enabled B2B businesses, has completed a GP-led secondary continuation fund transaction for portfolio companies, LabConnect and Viventium Software.

The transaction supports the significant continued growth opportunity for both companies, providing additional time and capital for growth initiatives, while offering liquidity to existing limited partners. ABS fund investors were provided a choice to receive liquidity or continue their investment.

The transaction is capitalised by a consortium of new and existing ABS investors, who subscribed to a new partnership managed and controlled by ABS. The transaction was led by Kline Hill Partners and Five Arrows.

LabConnect is a provider of global central laboratory services including routine and esoteric laboratory testing, kit building, sample management and tracking, biostorage, and scientific support services for pharmaceutical and biotechnology companies and clinical research organisations (CRO).

Viventium is a cloud-based payroll and human capital management solution, providing an exceptional user experience and insightful analytics for the health services markets, primarily home care agencies and skilled nursing facilities.

Harris Williams served as financial advisor, and Gunderson Dettmer served as legal advisor to ABS.

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