AnaCap, a partner for founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, has announced the closing of its maiden Continuation Fund at €300m. This includes interests in two highly successful investments, German insurance broker consolidation platform MRH Trowe and tax services SaaS provider Gestión Tributaria Territorial, SA.
The Continuation Fund emerged following the competitive auction process for MRHT that was concluded in March with AnaCap selling a stake to TA Associates whilst retaining a significant minority post- transaction.Additionally, the Continuation Fund will include the remaining minority stake in GTT following a similarly competitive auction that concluded in July and resulted in a majority exit to Stirling Square Capital Partners.
HarbourVest Partners is acting as the principal lead for the Continuation Fund with Schroders acting as the co-lead for MRHT in the Continuation Fund. Together, and with other members of the syndicate, they have committed additional capital to primary AnaCap funds to further support the franchise moving forward.