Novacap TMT IV LP beats target in final close, raises $375 mln

Canadian private equity firm Novacap has closed its fourth technology, media and telecommunications fund, Novacap TMT IV LP, raising $375 million. The fund surpassed its target of $350 million, and is more than twice the size of the $180 million Fund III, closed in 2007. Fund IV was backed by a range of institutional investors, including Teralys Capital, Caisse de dépôt et placement du Québec, Investissement Québec, Export Development Canada, Business Development Bank of Canada and several Canadian and Québec pension funds. Last December, peHUB Canada interviewed Novacap president and managing partner Pascal Tremblay about the fund and technology buyout opportunities in North America. Founded in 1981, Novacap is based in Longueuil, Québec.

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