Volpi Capital, a technology investor in the European lower mid-market, has held the final close of Volpi Capital Investments III with €428m in total capital commitments.
Fund III will work with founders and management teams across Europe in B2B software and services businesses. Volpi typically invests €25m-100m of equity in companies with enterprise values between €50m and €200m.
Fund III has already invested in three businesses: Xalient, Cyclomedia, and Yaveon. Its close follows the full realisation of Fund I last year, which achieved gross returns of 3.6x within eight years, according to a press statement.
The fund was supported by existing LPs as well as several new institutional investors from across Europe and the United States.
Rede Partners advised on Fund III.
