Kester has made the first and final close of its fourth fund, Kester Capital Fund IV (Fund IV), at its hard cap of £425m. The four-month fundraise was oversubscribed, resulting in a single close following strong demand from existing and new institutional investors.
Fund IV represents a significant increase from Kester Capital Fund III which closed at £200m of third-party capital. It builds on Kester’s strategy of investing in high-growth companies in the Technology and Life Sciences sectors.
Over the last twelve months, the firm has invested in Addresscloud, an insurance risk intelligence provider, Re-flow, a specialist in field service management software for critical infrastructure, and Evestia Clinical, a Clinical Research Organisation for the global pharmaceutical and biotech sectors.
The firm has achieved four consecutive exits over 4x and eight consecutive exits over 3x. Its investor base comprises pension funds, endowments, family offices, and asset managers. Kester was advised on the fundraising by FirstPoint Equity and Travers Smith.
