UK investor Vitruvian raises USD1.6 billion in fundraising for second fund
Vitruvian Partners is announcing the closure of its fundraising for Vitruvian Investment Partnership II (VIP II), the private equity firm's second fund. The company hit its self-imposed cap of USD1.6 billion (EUR1.2 billion), according to TechCrunch.
Vitruvian's first fund closed in 2008 with EUR925 million in total commitments. The firm says its second fund attracted commitments from endowments, sovereign wealth funds, fund of funds, foundations, and corporate and state pension funds across Europe, Australia, the Middle East, and the US. In total, Vitruvian is among the biggest European growth funds, the report stated.
The private equity firm will continue to back partnership and entrepreneurial management groups in the business service, media, information technology, financial services, healthcare, and telecoms arena. The company is looking to pour in GBP25 million to GBP125 million in firms that hold enterprise values between GBP40 million to GBP250 million, the report detailed.
The independent investor has headquarters in London, Stockholm, and Munich, TechCrunch reported.