Main Capital Partners raises €564m for sixth fund

The vehicle's target was set at €550m, and the fund was oversubscribed, according to the GP. It held a first close for Main Capital VI in December 2019 on €535m. Managing partner Charly Zwemstra previously told Unquote that the GP had planned to end Q1 with four investments from the vehicle.

The new fund is already more than double the size of its predecessor, Main Capital V, which closed on €236m in Q4 2017, surpassing its €200m target. 

Considering the fourth-generation Main Capital fund closed on its €85m hard-cap in 2015, its buyouts funds have drastically increased in size over a short period of time. 

Fund terms will follow the 2-8-20 standard, Unquote understands.

As well as re-ups from existing investors in the firm's previous funds, Main Capital received commitments from new institutional investors and family offices.

Investments
Main Capital VI will continue with the strategy to invest in majority buyouts of profitable and growing enterprise software companies in the Benelux, DACH and Nordic regions. These companies have an active (cross-border) add-on acquisition strategy to build larger software groups based on both organic and inorganic growth.

Main Capital typically provides an initial ticket size of €3-5m and add-ons of up to €20m. With its new fund, the GP will start to build larger software groups, acquiring majority stakes and pursuing a buy-and-build strategy, Unquote reported at the time of the first close.

Deployment began at the end of 2019, with four new platform companies spread over the Netherlands (Exxellence Groep and WoodWing),  Scandinavia  (Alfa)  and  Germany  (GBTEC); the GP has also performed one bolt-on so far.

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

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• Benelux
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