Leading growth equity firm partnering with software and technology-enabled services companies in Europe, North America and Israel to help accelerate their growth, PSG Equity closed its Second European Fund (PSG EUROPE II) at more than EUR 2.6 billion. The company announced the closure on November 7, 2023. The commitments reflect the strong support received from both new and existing investors globally, such as state pension funds, sovereign wealth funds, family offices and high-net-worth individuals.
Purpose of the fund by PSG Equity
PSGE II is one of the largest growth equity funds raised to invest exclusively in European software companies. The fund exceeded PSG’s initial target. PSG Europe I held its final close earlier in January 2021 with more than EUR 1.3 billion in commitments.
What the company’s official has to add
Peter Wilde, Chairman of PSG, said, “We are grateful for the support that our second European fund has received from both new and existing PSG limited partners. The strong demand from a high-calibre and diversified group of investors globally demonstrates the attractiveness of Europe’s software market as well as the strength of the PSG platform and our investment approach, both in Europe and North America. The successful closing of our second European fund cements our position as one of Europe’s leading growth equity investors in the software sector.”
Mark Hastings, Chief Executive Officer of PSG, further commented, “With PSGE II, we will be well-positioned to further capitalize on the growing investment opportunities generated by the ongoing digitalization of the European economy. We see substantial investment opportunities as companies of all sizes across all economic sectors are increasingly adopting digitization and automation tools to improve their customer service, increase productivity and secure their operations.”
Besides, Dany Rammal, Managing Director and Head of Europe at PSG said, “The tremendous growth we have experienced in Europe since our inception is a testament to the success of our investment strategy and to the quality and depth of our growing team. Our cross-border M&A expertise, local knowledge and relationships, and the operational support we can provide to management teams make us a partner of choice for ambitious and innovative founders looking to create pan-European software champions and expand internationally, including in North America. We will leverage our global software expertise to accelerate investment in innovative businesses that are using cutting-edge technologies like generative AI to drive growth and automation across cybersecurity, fintech, payments, verticalized ERP and CRM and workforce management, among others.”
About the company
Mark Hastings and Peter Wilde launched the company in 2014. The company backed more than 130 companies and facilitated more than 470 add-on acquisitions. PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams.
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