Main Capital closes fifth fund on €236.5m

Francesca Veronesi
15 December 2017

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Main Capital Partners has held a final close for Main Capital V on €236.5m.

The fund, announced in January 2017, held a first close in July on €96.43m, according to unquote" data. Its original target was of €200m.

The target return is thought to be around 20% with a standard management fee structure of 2% with 20% carry and an 8% hurdle.

The fund is substantially larger than its predecessor, Main Capital IV, which held a final close on its €85m hard-cap in September 2015, according to unquote" data.

Main Capital manages several private equity funds with assets under management of €375m.

Investors
LPs in the fund have not been disclosed. The GP received commitments from new and existing investors, mainly large institutional investors, family offices and private individuals.

Investments
Main Capital V will take majority stakes in software companies in the Benelux and DACH regions, focusing on further expansion through organic growth complemented with add-on acquisitions. Additionally, the GP announced it will start exploring opportunities in Scandinavia.

The fund's first investments include last week's minority stake acquisition in German company JobRouter and majority stake acquisition in Dutch software group GOconnectIT in November.

People
Main Capital Partners – Charly Zwemstra (managing partner).