BV Investment Partners closes Fund VIII on $487m

The Boston-based middle market firm has beat its $400 million target

Boston-based BV Investment Partners has closed its Fund VIII on the $487 million hard cap, beating the $400 million target.

The fund launched in late 2012, according to Private Equity International’s research and analytics division.

The firm declined to comment on fundraising.

Fund VIII, like its predecessor funds, will focus on lower middle-market information and business services and communications opportunities.

BV worked with Evercore Partners as placement agent, to expand its fundraising efforts into Europe. Investors in Fund VIII consist of both first time investors and returning investors from BV’s prior funds and include a broad group of global institutional investors, public pension plans, fund of funds, and major family offices.

The firm has completed two investments in Fund VIII to date – The Efficient Collaborative Retail Marketing Company, a marketing services, software, and data provider and INetU, provider of complex managed hosting and cloud services to enterprise customers.

BV recently expanded its team and added two new investment professionals and an additional advisory board member to its 13 person operating advisory board. The firm was previously known as Boston Ventures and has been in business since 1983.

To date, BV has raised eight funds representing $2.6 billion in committed capital.